The Welsh government is offering financial incentives to companies setting up facilities and creating jobs in Wales, according to Julie Russell, business development manager, Trade and Inward Investment of the Welsh government.

She was in Mumbai to address a select gathering on the Welsh offer, at an event hosted by the Confederation of Indian Industry.

General Dynamics UK, a defence and security company, is setting up an assembly, integration and testing facility for armoured vehicles in South Wales. The new facility will create 250 new jobs.

The defence company was awarded a £390 million contract by the UK Ministry of Defence to provide support for its armoured vehicles. After landing the contract, the company transferred work from its facility in Spain to Wales, said Russell, citing the UK defence company as an example to showcase the immense potential of Wales.

Russell said the Welsh government recognises the critical importance of the aviation and defence sectors.

“The aerospace and defence sectors are very strong in Wales. It is a centre of excellence for aerospace manufacturing and MRO (maintenance, repair and operations) related activities and skills. We got 22-25 per cent of the MRO of the UK based in Wales,” Russell told Business Line .

Strong presence Enumerating the companies in the region, she said, “In South East Wales, we have GE Aviation, and they do maintenance on the Boeing engines. They have a dedicated enterprise centre near Cardiff airport. In North Wales, we got Airbus. There are many opportunities for both aviation and defence, and we got strong strengths in both fields.”

The aerospace sector in Wales includes six of the top 10 aerospace and defence companies. Airbus makes its wings at the Wales’ Broughton plant and is looking to fit even more passengers into a wide-body plane, which currently seats six people in a line across the aircraft. Wales is also home to the facilities of British Airways Maintenance, EADS, Nordam and Marshalls, among others.

Recently, the Welsh government announced a package of over £46 million to boost infrastructure, skills and promote economic growth across Wales. Around £2.7 million is to be invested in Airbus and aerospace training facilities, for high level training and ongoing support for aerospace manufacturing.

Economic outlook On the economic outlook and investment potential of Wales, Russell said Britain's largest steelmaker Tata Steel has a good presence in Wales.

“They bought the Corus steel site in 2007, and are one of Wales’ biggest employers, employing over 7,500 people at their five sites,” she said.

The Port Talbot plant in Wales was controlled by Corus Steel UK, and taken over by Tata in 2007.

First Source, a business process management (BPM) company, and Indian pharmaceutical major Wockhardt are among the other Indian companies present in Wales, Russell said.

Tax structure Stating that Wales has the same tax structure as the UK, Russell said the country also has “a number of additional research and development support packages, and has additional support for skill development and training activities. If Indian companies are looking for expansion into Europe, we have a distinct, competitive advantage.”

If Indian companies are looking to create more jobs in the region, financial grants are on offer, “particularly since the region has now returned to economic growth,” she said.

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