Belfast Telegraph

Invest NI setting its sights on India in ambitious jobs and exports drive

 

By John Mulgrew

Invest NI is targeting India's growing economy in a bid to attract new businesses and jobs to Northern Ireland and expand exports to the country.

The investment agency is seeking to hire a new contractor or contractors to deliver services for them in India, including in the area of foreign direct investment (FDI), trade, and the Northern Ireland education sector.

"The purpose of this initiative is to contribute towards Invest NI's corporate goals on inward investment and trade," a spokesman for the organisation said.

"The objectives are to secure the successful location in Northern Ireland of investments by companies from the Indian market in order to provide durable long-term employment opportunities, to assist Northern Ireland exports and to promote the Northern Ireland education sector."

It's thought the campaign could last for three years.

Invest NI has added a number of new offices and bases to its global network over the last few years, including offices in Chile and southeast Asia.

Details of the new campaign revealed there are around 10 Indian companies working here, which each employ up to 6,000 staff at peak times.

That includes call-centre Firstsource and outsourcing business Infosys.

The new role will include developing Invest NI's inward investment and targeting financial services, business services and the IT and software sectors.

"However other sectors may be targeted over the life of this contract depending on a number of factors - the primary ones being the outcome of Brexit and the introduction of low corporation tax, which could shift strategic focus to advanced manufacturing," Invest NI said.

"Start-ups with the potential for high growth will also be targeted."

Invest NI said exports to India are on the rise, and £17m of goods were exported in 2015/16

It' is hoping to promote around 100 new jobs within the first two to three years.

"There is also an increased opportunity for education, in the medium to long term, with potential changes in UK immigration," it said.

"India has one of the largest student populations studying abroad in the world. Press reports indicate the Indian government is insisting on increased immigration to UK as part of a future post-Brexit trade deal.

"Recent events such as the impending Brexit, the planned introduction of a new corporate tax rate in Northern Ireland and a new political leadership in India present fresh opportunities for higher value FDI, trade and education."

Belfast Telegraph

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