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Britain’s £4 billion car part kitty fuels growth opportunities for Indian businesses

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Britain’s £4 billion car part kitty fuels growth opportunities for Indian businesses

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British auto manufacturers are in the market for new car part suppliers to service the growing demand for UK automobiles.

The UK is now the fastest growing automotive manufacturer in Europe with more than 1.6m vehicles rolling off the production line in 2015, the highest in over a decade.

Speaking today at the unveiling of the UK’s Society of Motor Manufacturers and Traders Association (SMMT) and the UK Trade and Investment (UKTI) Pavilion at the Auto Expo 2016 in New Delhi, the United Kingdom’s Acting High Commissioner to India, Dr Alexander Evans, said that Britain had cemented itself as the fastest growing automotive manufacturer in Europe and that meant plenty of growth potential for inward investors.

The UK is uniquely placed to return itself to being a global leader in car manufacturing. We are accelerating that position with the quality of our products, and our research and development in the sector,” said Dr Evans.

Indian companies and manufacturers are critical to our journey. Take for example Jaguar Land Rover, owned by Tata, which recently became the largest automotive manufacturer in Britain. Such partnerships celebrate the essence of GREAT for Collaboration, an exciting campaign launched by our two Prime Ministers to inspire new partnerships between the UK and India, and encourage greater awareness of the scale of the UK’s commitment to India.

We will continue to boost automotive production in the UK. That means we are looking for more companies to partner with us to satisfy the demand for our cars, and India is well placed to take advantage of this growth,” he said.

Nine British automotive manufacturers are participating in this year’s Auto Expo, the biggest delegation to India of all time.

Tamzen Isacsson, Society of Motor Manufacturers and Traders Association (SMMT), said the delegation was a collection of some of Britain’s most cutting-edge supply chain and aftermarket companies.

SMMT is proud to be hosting a delegation for the sixth edition in a row. The Indian and UK automotive sectors have a lot in common – putting engineering creativity, ingenuity and innovation at the forefront of everything we do,” Ms Isacsson said.

With exports of British-built cars to India up three-fold since 2010, and demand increasing in line with the country’s growing economic prosperity, we expect our already close trading relationship to strengthen further right across the industry spectrum as we work together to take advantage of mutually beneficial investment opportunities.

Dr Alexander Evans joined Tamzen Isacsson, at an official photocall today announcing a number of business partnership opportunities between the UK and India, as well as officially opening the UK Pavilion at the Auto Expo event.

UKTI Stand at Auto Expo is located at: UK Pavilion in Hall 18, Stand 29, Pragati Maidan, New Delhi, February 4-7.

gov.uk

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