In November, I was delighted to welcome Indian Prime Minister Narendra Modi to the UK – as our two great nations deepened our existing bonds in business, education, security and culture. Supported by our talented and vibrant Indian diaspora community in the UK, the relationship between Britain and India continues to go from strength to strength.
Every day I see the contribution that the UK’s 1.5 million strong Indian community makes to our economy, society, and country as a whole. More than 100,000 Indians run their own businesses in the UK, with their links to home bringing inward investment from India to Britain that created 8,000 new jobs last year.
The employment rate amongst the Indian diaspora has never been higher and I hope that with the push to enhance Britain’s economic prosperity, through the Spending Review, we will only see that figure rise further. The Chancellor’s Autumn Statement put security first for the working people of Britain. It protects our economic security by taking the difficult decisions to live within our means and bring down our debt. We are moving on from the job of rescuing Britain’s finances to the job of rebuilding the country to ensure a prosperous future. We are making sure we leave the next generation with a stronger country than the one we inherited.
I know that our Indian community, with their strong entrepreneurial spirit, will play an integral role in that. We are backing the small businesses that drive our economy, and building the infrastructure they need to develop and grow in Britain.
Our welfare reforms are designed to incentivise work and help people into jobs faster and encourage them to increase their earnings. With the rollout of the revolutionary new Universal Credit service, we’re making it easier for business to hire workers or for their staff to take on more hours. I know that this will be a huge boost to employers up and down the country, and will help them increase productivity.
Prime Minister Modi’s visit showed the pride our Indian diaspora has, not only in their heritage, but also in their place in modern Britain. They are right to be proud, because as we look to the New Year, I know we can also look forward to the Indian diaspora community continuing to help build a stronger, more cohesive Britain, one where everyone who works hard gets the opportunities they need to succeed and get on in their lives.
