UK Life Sciences Sector Eyes Up India Opportunities

Businesses in the life sciences industry looking to grow and target new markets in the future might want to consider what India has to offer, with planned company expansions in the country already amounting to tens of millions of pounds, suggesting that there’s plenty of opportunities to be reaped over the coming months and years.

Government figures show that UK businesses exported £17 billion worth of goods and services in the year leading up to September 2024, with more than 600 UK companies (including those in the tech and life sciences sector) already based in India.

Trade deal talks with the country have now been relaunched, with the aim being to drive even more opportunities for businesses in the UK… essential to grow the economy, since India is on track to become the fourth biggest importer by 2035.

Businesses already expanding exports into India include Microfresh, which has rolled out its antimicrobial technology in the region, digital health tech firm Novocuris, which has started operating in various hospitals over there, and Biocomposites, which is supplying Indian hospitals with various medical devices for use in joint, bone and musculoskeletal infections.

Jonathan Reynolds, business and trade secretary, said: “Tech and life sciences are two huge growth sectors for the UK economy that feature at the heart of our industrial strategy.  

“I’m proud that government support has helped some of our finest businesses in these sectors to expand into the exciting Indian market. It’s great to see them going for growth, and their successes will amount to tens of millions of pounds for the UK economy, which will see living standards improve and put money in people’s pockets.”

The government’s industrial strategy itself aims to drive growth, helping businesses to plan for the next ten years and beyond, while renewing the UK’s commitment to free and open trade and striking up new trade deals with powerhouse economies all over the world – including India.