An Indian manufacturing firm has committed to investing £6 million in Scotland and creating 100 jobs, the Scottish Government announced on Tuesday following First Minister John Swinney's trade mission to India.
Sarva Foam is planning to open a facility in Scotland as a direct result of Mr Swinney's visit to the sub-continent last week. The First Minister travelled with representatives from major Scottish sectors including food and drink to promote business opportunities. Speaking to the Press Association before returning home, Mr Swinney said the Sarva Foam investment was "one particular investment" that would result from the visit, with additional deals expected to follow.
The First Minister said he had been in discussions with existing investors about strengthening their current Scottish operations and creating fresh opportunities for Scottish businesses and higher education institutions to access the Indian market. "These are approaches which are designed to create economic benefits at home," Mr Swinney said.
Defending the cost of the trip amid criticism of his overseas travel, Mr Swinney argued that trade missions were essential to prevent Scotland losing out to competitors. "I think these visits are essential because if we stay at home waiting for people to arrive without any outreach from us, then we'll get passed by," he said. "I'm not prepared to see investments and opportunities pass Scotland by because I've sat at home and not done anything to promote Scotland to the markets that are growing and expanding at a phenomenal rate."
For Scottish businesses and workers, this signals potential new commercial opportunities as the country seeks to deepen ties with rapidly expanding markets beyond its traditional trading partners.