May 16, 2021

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Serum Institute invests £ 240 million in the UK; Leading Indian investments across sectors

The Serum Institute of India will invest £ 240 million in the UK to expand its vaccine business and create a new sales office that will provide a large number of jobs, and Downing Street has announced as part of improved trade plans between India and the UK worth £ 1 billion the partnership has created around 6,500 Job opportunity in Britain. The Pune-based vaccine manufacturer is among a list of nearly 20 Indian companies across sectors such as healthcare, biotechnology and software services to announce major investment plans in the UK.

It has also been revealed that the Serum Institute of India (SII) has started Phase 1 trials in the UK for a nasal vaccine against Coronavirus.

“The sales office is expected to generate more than $ 1 billion in new business, of which £ 200 million will be invested in the UK,” Downing Street said Monday, referring to SII’s plans for the UK market.

“The vaccine investments will support clinical trials, research and development, and possibly the manufacture of vaccines. This will help the UK and the world to defeat the pandemic of the Coronavirus and other deadly diseases. The vaccine has already started phase 1 trials in the UK for a single dose nasal vaccine for Coronavirus, in partnership with Codagenix INC.”

In healthcare, one of the most notable Indian investments is £ 59 million by biotech company Global Gene Corp over the next five years.

It will create 110 highly skilled jobs in the UK, most of them at the Research and Development Center at the Wellcome Genome Campus in Cambridge, which is the site of the Human Genome Project.

British Prime Minister Boris Johnson said in a statement: “I am very happy that Global Gene Corp has decided to join the legions of Indian companies investing in the UK, thus strengthening our healthcare sector and driving economic growth.”

Sumit Jamwar, Chairman and CEO of Global Gene Corp., said the ambition with the investment is to make a “mega-leap” in future healthcare through genomics – from next-generation drug discovery to precision medicine – a “much more critical” mission. In the context of the COVID-19 pandemic. “The United Kingdom is at the forefront of the genomics revolution with its UK genome strategy. We are delighted to be investing in cutting-edge capabilities at the intersection of genomics and machine learning to achieve our vision.” Invest India CEO Deepak Pagla said that in line with Prime Minister Narendra Modi’s vision of Yushman Bharat and the national healthcare mission, “We truly believe that the genomic revolution will have an impact on the lives of billions. Global Gen will make this revolution a reality.”

Other Indian investments announced on Monday ahead of Tuesday’s virtual summit between Johnson and Moody include Q-Rich Creations worth £ 54 million, creating 667 UK jobs; Wipro – £ 16m, creating 500 jobs; I2 Agro – £ 30million, 465 jobs created; Creation of MASTC 357 job opportunities; And Sterlite Technologies at £ 15 million, creating 150 jobs.

Among the other companies on the list of Indian investments is SNVA Ventures with a value of 10 million pounds sterling, providing 200 jobs; Skillmine, valued at £ 11m, creating 100 jobs; CtrlS data centers, worth £ 10m, creating 100 jobs; Que Processing Services worth £ 10 million, creating 100 jobs; Cron Systems £ 20 million, creating 100 jobs; TVS Motors-Norton created 89 jobs; Prime Focus Technologies creates 70 jobs; The road is mobile, at a cost of £ 20m, creating 50 jobs; And Goila Butter Chicken, worth £ 3m, creating 40 jobs.

Downing Street said the announcement of more than 6,500 additional UK jobs and £ 1 billion in new trade with India was based on the company’s commitments and estimates of exports and investments between the UK and India after extensive participation from International Trade Department officials.

The enhanced trade partnership between India and the UK, which will be signed during the hypothetical prime minister’s summit, also covers around 20 export deals struck by British companies.

These include Morningside Pharmaceuticals the research and development and licensing of new drug products; Polymateria’s biotransformation technology, which is enabling plastics to become fully biodegradable, in a deal worth £ 75m in UK exports over the next five years; CMR surgery in a £ 200million deal to create 100 new jobs in the UK; Kloudpad with critical hardware and software and dedicated data centers, £ 15m deal; The Vidrona unmanned aircraft scanning equipment and artificial intelligence technology.

Among others, KIGG Systems – Smart Meter Test Benches for Electricity Distribution Companies; CyanConnode – £ 18m deal that creates 30 new jobs in the UK; GoZero Mobility – £ 3.2m e-bike deal; Agvesto – £ 3 million deal; The revolution expanded in India and created 60 jobs in the United Kingdom; CDE Asia – £ 500,000 deal; And the Bio Products Laboratory – the definitive biopharmaceutical products for rare bleeding disorders worth £ 62 million.

The export agreements also cover the expansion of Kwalee’s UK video game producer in India creating 25 new jobs in the UK TV shorts for a digital entertainment platform – expecting exports worth £ 8 million; Clancy Global – One Ecosystem Evolving – £ 2.5million deal; Astropol – Color and additive solutions for the vinyl and non-vinyl industries and related additives, £ 12m deal; Surgease – £ 14.9 million deal creates 100 new jobs in the UK; Oxvent – £ 20 million deal; Eagle Genomics – £ 12m deal that creates 165 jobs in the UK; And BP’s partnership with Infosys to de-carbonize 11 Infosys campuses across India.