Neil Lal highlights the strategic value of trade and investment Between Scotland and India
In a statement releasedyesterday, Neil Lal, Chairman and President of The Indian Council of Scotland and United Kingdom, called for an ambitious deepening of trade and investment between Scotland and India, emphasising the clear economic and strategic benefits that such a partnership brings to both nations.
“As India continues its rise as a global economic powerhouse, Scotland must seize this moment to align our strengths, invest in shared opportunity, and build a modern partnership rooted in innovation, sustainability, and mutual prosperity,” said Mr. Lal.
India, now the fifth-largest economy in the world with a GDP exceeding $3.7 trillion, is projected to become the third-largest by 2030. In the year to March 2024, UK–India trade reached £36.3 billion, growing by over £10 billion in just three years. Scotland’s exports to India—currently valued at over £725 million—span sectors including renewable energy, education, technology, and food and drink, all primed for growth.
Key facts highlighted in Mr. Lal’s statement include:
Scotch whisky exports to India rose by 60% in 2023, with India becoming the largest market by volume.
Over 55,000 Indian students are currently studying in the UK, with increasing enrolment in Scottish universities.
India’s digital economy is projected to hit $1 trillion by 2030, offering partnership potential in fintech and AI.
Scotland’s world-leading renewable energy sector can support India’s target of 500 GW of non-fossil fuel capacity by 2030.
Mr. Lal also underscored the role of the Indian diaspora in Scotland, which contributes over £1 billion annually to the Scottish economy, describing them as “a vital bridge between our communities and our commercial futures.”
With the UK and India of a recent Free Trade Agreement (FTA), the opportunities for Scottish exporters and Indian investors alike are substantial. Mr. Lal called for both governments, business leaders, and civil society to “work together to ensure Scotland is at the heart of this historic agreement.”
Through his leadership of The Indian Council of Scotland and United Kingdom, Mr. Lal is actively engaging with public and private sector stakeholders to strengthen this bilateral relationship through business forums, trade missions, academic partnerships, and community-led diplomacy.
“The future of international trade is not about borders—it’s about building bridges. Let Scotland and India build one stronger than ever before,” Mr. Lal concluded.