India will be the third biggest economy in the world by 2030 and is predicted to grow at an average of 5.9% per annum until 2050, making it the most rapidly expanding of all G20 countries.
In 2015, the Sheffield City Region exported £81m worth of goods to India – making it the region’s 12th largest trading partner.
As the world’s largest democracy, with ambitions towards advanced manufacturing technologies and processes, India is an ideal trading partner for the Sheffield City Region, for mutual benefit. Sheffield City Region’s world leading capabilities in manufacturing, design and development, backed by two world leading academic institutions mean there are a wealth of opportunities for collaboration.
India has been an under-exploited export market for the SCR. Whilst the EU accounts for 55% of all goods and services from the SCR, India and China combined accounted for only 6% of the region’s total trade.
Sir Nigel Knowles, International Advisor to the Mayor of the Sheffield City Region, said:
“The time is right for us to develop even stronger and more productive relationships with trade partners around the world – and there are none more important than India.”
In 2017, we introduced the strategy: ‘Make in India, Design and Develop with the Sheffield City Region’. Since then, we have started to build relationships with Indian companies, particularly in the advanced manufacturing sector. In Sheffield City Region, our research-led advanced manufacturing cluster, backed by the University of Sheffield’s Advanced Manufacturing Research Centre (AMRC) is well developed and is pushing the boundaries of digital efficiency and Industry 4.0.
What does Sheffield City Region have to offer India?
- World-leading capabilities in manufacturing, design, and development. There is strong potential for Indian companies to be involved in projects in aerospace, automotive and healthcare technologies.
- Advanced Manufacturing capabilities through our Global Innovation Clusters, which offers extensive investment opportunities for Indian companies.
- Our region has a reputation for creativity and innovation, and this is stimulating a fast-growing digital technology/creative industries sector.
- Two world-class universities attracting thousands of Indian students every year, as well as collaboration with overseas businesses.
Find out more about the SCR’s offer to India here: SCR Working with India.