Scotland and India share not only a rich history but also immense opportunity for future collaboration. The potential for further collaboration between Scotland and India is vast—spanning technology, healthcare, life sciences, manufacturing, and renewables. India not only represents a vast market but also values creativity, innovation, and skilled talent—qualities synonymous with Scotland.
Publicly available data points to a transformative growth in trade relationship, with total trade reaching £5.2 billion in 2024. Scottish exports to India grew by 8.5% to £2.8 billion, while imports increased by 7.2% to £2.4 billion, driven by sectors like machinery, electronics, and textiles. As India aims to become a $5 trillion economy by 2025, opportunities abound in technology, fintech, and manufacturing.
The opportunity presented by India is long-term and enduring. However, it requires patience; building lasting relationships takes time. Working with partners like the Scottish Business Network (SBN) can help facilitate this journey by providing expertise and connections essential for success in India.
SBN’s India Ambassador Tom Thomas is a panellist at the upcoming Globally Connecting conference at Edinburgh that showcases SBN‘s progressive global reputation for uniting the Scottish diaspora and fostering international business connections. Join him at the Assembly Rooms for an inspiring day of connection, innovation, and collaboration. This event promises to unlock new horizons for Scottish businesses on the global stage, fostering relationships that will drive growth and opportunity. It’s an opportunity to explore transformative ideas and strategies that empower Scottish enterprises to thrive internationally. Don’t miss this chance to be part of a movement that celebrates the shared potential and paves the way for a prosperous future. It’s time to shape a brighter tomorrow for Scotland’s business landscape.
A Shared History
The connection between Scotland and India runs deep; it transcends business interests to encompass shared values and mutual respect. In my hometown of Bangalore, you can find the oldest steam engine made in Glasgow on display at the Science Museum—a testament to our historical ties. The first brewmaster of United Breweries was a Scotsman whose contributions significantly impacted India’s brewing industry. St. Andrews Church in Bangalore—built in the 1800s—serves as another reminder of Scotland’s rich presence in India.
Initiatives like Digital India and the Production Linked Incentive scheme are paving the way for collaboration. With Indian FDI in Scotland hitting £1.1 billion last year, the potential for growth is immense. As historical ties deepen, Scotland companies must seize this moment to foster innovation and partnerships that benefit both nations.
Manufacturing Powerhouse
India’s manufacturing sector is projected to grow significantly through 2029, with key industries such as automotive, pharmaceuticals, and engineering expanding rapidly. The Indian government’s initiatives, including the Production Linked Incentive (PLI) scheme and various tax concessions, are creating a competitive landscape for export-driven manufacturing. This is an opportune moment for Scotland to leverage its expertise in advanced manufacturing, robotics, and electric vehicles (EVs) to engage with India’s burgeoning sector.
Technology and Fintech Innovation
India’s digital revolution is among the fastest globally. With the largest internet user base and some of the lowest data rates worldwide, India’s focus on technology and fintech offers substantial potential for Scottish companies. The Digital India initiative is ensuring that the country remains at the forefront of global digital innovation. There are countless opportunities for collaboration across various sectors—from fintech to education—allowing Scottish firms to tap into high-growth markets.
The biotech and healthtech sectors also present significant opportunities for Scottish companies to engage in joint research and development activities with Indian firms. A prime example is Kiran Mazumdar Shaw, who transformed a small startup into one of the world’s leading biotech companies. This kind of innovation exemplifies how collaboration can yield benefits for both nations.
Talent and Innovation Advantage
India places a high value on education and skills development, especially in fields like artificial intelligence (AI), engineering, and technology. This emphasis makes India an ideal partner for Scotland to access world-class talent. By working together, we can drive innovation and create a robust talent pipeline that meets future demands.
Education remains a significant area for collaboration between Scotland and India. Many Indian students pursue higher education abroad due to its high value in their culture. Scottish universities have tremendous potential to attract more Indian students while establishing university-to-university partnerships for research and learning.
Opportunities in Space
The space sector also offers exciting prospects for collaboration between Scottish companies and India’s dynamic space industry. India’s frugal engineering approach has enabled remarkable advancements in this field. For instance, Karnataka has launched India’s first draft space policy, showcasing its commitment to this sector. Scottish companies must seek engagement opportunities within this burgeoning industry.
Trade Data & Investment Growth
Studies reveal that the trade relationship between Scotland and India has seen impressive growth over recent years. In 2024, total trade reached £5.2 billion, with Scottish exports to India growing by 8.5% to £2.8 billion while imports from India increased by 7.2% to £2.4 billion. Key sectors driving this growth include machinery, electronics, textiles, and chemicals. Notably, Indian foreign direct investment (FDI) into Scotland reached £1.1 billion last year, underscoring the strength of our bilateral investment ties.
India ranks as Scotland’s 11th largest inward investor, with major Indian companies like Tata Consultancy Services, Infosys, and Wipro establishing significant operations in Scotland. Conversely, Scottish businesses such as Standard Life, Weir Group, and the Royal Bank of Scotland are thriving in India. These existing partnerships lay a strong foundation for further collaboration across both countries.
The Saltire Sentinel: A Beacon of Collaboration
A recent example of continuing this legacy of Scottish-Indian collaboration is the Saltire Sentinel project that was born out of a lunch discussion between Russell Dalgleish, Chairman of the Scottish Business Network; business partners Tom Thomas and Verghese Joseph from India at Bangalore Club in October 2024. This initiative has evolved from a simple idea into a symbol of Scotland’s potential in India. Saltire Sentinel now stands as a beacon of success with a dedicated team turning Russell’s vision into reality—demonstrating what can be achieved when we combine Scottish innovation with India’s talent and ambition.
The Path Forward
Incidentally, SBN India is planning a roundtable event in India in 2025 aimed at bringing Scottish businesses directly into this vibrant market to explore opportunities firsthand. It’s time to consider incorporating India into Scottish 2025 business expansion plans—there’s much to discover and even more to gain.
It’s an excellent idea to explore this opportunity further by planning an India visit tailored to your specific sector needs. Reach out to Tom at tom@sbn.scot to embark on this exciting journey together!
