This year’s unprecedented global economic uncertainties have brought the importance of international relationships into focus.
India especially has become a topic of trade conversations worldwide, because of the exciting opportunities its fast-growing economy presents.
Together, the UK and India are advancing discussions about the next chapter of their shared history, seeking to build on the ties that bind them.
Both countries economically support one another – India is the second-leading source of Foreign Direct Investment in the UK, reciprocated by the $27bn that the UK has invested in India since 2000.
At the beating heart of this symbiotic relationship are the collective values of their people and places.
Nowhere is this more evident than in business, where both populations’ thirst for innovation and creativity has captivated industries worldwide.
In the UK, the significance of Indian diaspora-owned businesses totals over £36bn for its economy.
The West Midlands exemplifies the positive influence of this energy and entrepreneurialism.
Members of our 200,000-strong Indian diaspora have pioneered some of our region’s greatest achievements and cultural assets.
The late Lord Bhattacharya redefined industry-academic collaboration by founding WMG at the University of Warwick, which continues to drive unique R&D partnerships today, such as with Tata Motors, Jaguar Land Rover and Lotus.
My personal story in business reflects this. In 1972 my family moved to the West Midlands and established East End Foods in response to growing demand from Asian migrants for authentic ingredients from the continent. I have since continued the business’ journey in my family by bringing the wholesale arm under my own enterprise – Lioncroft Wholesale Ltd.
But beyond industry, our region has a much deeper affinity with India, as a core UK location for sacred places and festivals.
Dudley’s Lord Balaji Temple is a key centre for worship and culture that attracts devotees from across the country, while Birmingham’s Diwali on the Square is a highlight of national celebrations, attracting 20,000 people in 2019.
Our region can make a real difference in forging a new era for UK-India relations.
The new West Midlands India Partnership (WMIP) aims to foster mutual prosperity by driving trade and investment, boosting tourism, creating educational alliances, civic partnerships and energising cultural engagement.
Thanks to this new Partnership, we have a clear pathway to support and advance our vision and mission to work closely with India in a way that creates mutual economic and cultural benefit, like never before.
As hosts of the 2022 Commonwealth Games, the WMIP will help us to maximise the trade, tourism and investment potential of the event to generate shared benefits and opportunities for each other.
We can elevate the profound connections of our past to strengthen our alliance and build a more prosperous future, together.
Dr. Jason Wouhra OBE – Chair of the West Midlands India Partnership – comments on the West Midlands’ role in the future of UK-India relations.