Closer collaboration around skills, emerging technology and industry should play a key role in future trade agreements between the UK and India, according to Uday Samant, Minister of Industries of Maharashtra, India.

Speaking at the Investor summit in central London yesterday, Mr Samat addressed business leaders, outlining his vision about how Maharashtra plans to encourage investment into the state and the wider Indian economy.

He told attendees: “We aim to attract UK investments into Maharashtra by showcasing the state’s robust business ecosystem, infrastructure, and investment-friendly policies. The goal is to create an environment conducive to increased foreign direct investment.

“Closer collaboration is will play a critical role in future trade agreements with the UK and both countries have tremendous potential to work together on skills, industry and emerging technologies,” he said.

The conference was designed with several key objectives, including attracting substantial investments into Maharashtra, initiating dialogues and partnerships between UK and Indian businesses, and strengthening the foundation for discussions at Davos 2024.

Other key agenda items included discussing renewable energy, electric vehicles, smart cities, waste, and water management as well as green finance.

Samat continued, “India offers a wealth of opportunities for UK businesses and investors across diverse sectors. Collaboration in India’s industrial sector not only unlocks growth potential but also contributes to economic development, innovation, and global competitiveness.

“We encourage you to explore and leverage these opportunities, fostering mutually beneficial partnerships and shared success,” he concluded.