Scaling up the economic cooperation between India and UK , the presence of Indian investments in UK is likely to get further thrust with India’s Prime Minister Narendra Modi visiting the Jaguar Land Rover (JLR) plant, a subsidiary of India’s Tata Motors, during his three-day visit to the United Kingdom (UK) from November 12-14.
In his address to the media on November 10, India’s Foreign Secretary S. Jaishankar said the JLR plant was the flagship Indian investment in Britain. “It is the largest investment by an Indian company in the UK. In my understanding, it is the largest private sector manufacturing employer in the UK.” JLR now annually produces around 425,000 vehicles, which are sold across the world.
The Tatas acquired JLR in 2008 when it was running at a loss. “It was turned around in five years and its revenues have increased enormously,” Mr Jaishankar said. Emphasising that it was a symbol of a much more contemporary economic relationship between the two countries, Mr Jaishankar said that it drove home the message that ‘we are job makers, and not job takers’.
The facility in Solihull, has some unique features, including a very modern aluminum body building plant. “I believe that the particular facility that we are going to has some very unique features including a very modern aluminium bodybuilding part of the plant. I think these were broadly the elements, which went into our thinking as we planned that visit,” Mr Jaishankar said.
The visit to JLR is likely to set a precedent by encouraging other leading Indian giants in the automotive sector to establish manufacturing units in the UK and enhance Indian investments there. The presence of leading Indian business groups like the Tatas, which lead in manufacturing employment in the UK, signifies a changing trend of viewing India as a country not just seeking investments but also ready to be a leading investor in major sectors in the developed countries.
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