North East mayor Kim McGuinness will lead a delegation of Northern business and political leaders to India next week that aims to tap into one of the world’s largest markets.
The trade mission has been organised by the Great North Initiative, which was set up by Ms McGuinness’ team in a bid to harness the worldwide appeal of the Great North Run as a way of selling the region to international investors.
Trade deal opportunities
Most of the North’s mayors will be on the trip, which has been arranged in a bid to seize economic opportunities unlocked by the new UK–India Free Trade Agreement. It is hoped that the trade deal could ultimately boost Northern economies by £450m a year, with mayors aiming to secure new investment, jobs and visitors to the North.
Nearly 200 representatives from across the North, including mayors, businesses, universities and leaders from tourism, culture and sport, will promote the North’s economy. It is the first UK visit to India since the trade deal came into effect, and represents the first time the North of England has joined forces to promote itself on the global stage. Business and Trade Secretary Jonathan Reynolds will also join the trip to what is one of the world’s largest and fastest-growing economies.
Leaders' ambitions
Ms McGuinness said: “The North is going to India with ambition, confidence and a simple message: we want to seize every opportunity this new trade deal creates. That’s why we’re not waiting for the benefits to come to us. We’re taking the North’s leading businesses, universities, sports clubs and visitor destinations to India to win investment, open doors for our businesses, bring more visitors to the North and build relationships that can last for generations.
“From clean energy and advanced manufacturing to life sciences, technology and our creative industries, the North has world-class strengths and a compelling offer to India. When the North comes together, we are mighty - and we’re excited to showcase the best of our regions on the global stage, to help bring jobs, prosperity and opportunity back home.”
Business and Trade Secretary Jonathan Reynolds said: “From agreeing the India trade deal with Minister Goyal in Hyde Park last year to seeing it come into force this summer, the coalition of Northern mayors and businesses is an exciting initiative in the next stage our partnership which is packed with economic opportunities from our most significant deal to date.
“From Sunderland to Skye this is what will drive economic growth across the country, where Government lays the groundwork for businesses and organisations to work together with international partners to create jobs and opportunities for now and for the future.”
Regional economic impact
UK Government analysis estimates the India trade agreement could boost the economies of the North West by £210m, along with £170m in Yorkshire and the Humber and £70m in the North East.
Greater Manchester mayor Bev Craig said: “We’ve built strong foundations and the Free Trade Agreement gives us a further boost. The prize is an additional £210m for the North West’s economy, and that means more trade and investment, more international visitors, and closer links in culture and sport, creating new jobs for our residents and opportunities for our businesses.”
Hull and East Yorkshire mayor Luke Campbell said: “When the North goes out into the world together, we carry more weight. The Great North gives us a bigger platform, and I want Hull and East Yorkshire right at the heart of it.
“We have a lot to offer. We are strong in energy, manufacturing, ports and logistics, food and innovation, and we have businesses here with the ambition to grow. I want investors and businesses in India to know who we are, what we make and what we can do.”
