Indian investment to boost Scottish jobs
Business announces planned £6 million for first phase of investment
First Minister John Swinney has welcomed £6 million of planned capital investment from Indian company Sarva Foam for the first phase of their investment into a manufacturing facility in Scotland.
Subject to the successful delivery of the first phase and confirmation of the wider commercial and funding package, this could unlock long-term investment of up to £12 million in total over the three years. This investment could create up to 100 Scottish jobs, including skilled manufacturing roles.
The capital was announced as First Minister John Swinney met Sarva Foam representatives in Mumbai, where he discussed how the facility can contribute to Scotland’s net zero targets by manufacturing with used materials that would otherwise go to landfill.
The First Minister said: "This planned investment from Sarva Foam is a fantastic example of how Indian capital can help drive growth, build prosperity and create jobs in Scotland. Given the focus on using a circular economy model and utilising used materials, the new facility will also contribute to our ambitions to support green, sustainable jobs as we move towards net zero.
“Bolstering trade and investment relationships with India offers a golden opportunity for a wide range of Scottish businesses and for Scotland’s economy. Our strengths in technology, financial services and clean energy – make us uniquely placed to match India’s priorities for investment. Our own independent analysis showing Scotland and India’s trading partnership could be worth more than £3 billion a year by 2030.”
Mark Hallan, Director of International Investment at Scottish Enterprise, said: "We welcome the news that Sarva Foam is considering Scotland as the location for its new manufacturing operation. We look forward to continuing to engage with the company as their plans develop.”
Kunal Giani, Chairman and Managing Director of Sarva Foam, said: “We are planning to establish a foam-recycling manufacturing operation in Scotland, with an initial investment of approximately £6 million. Drawing on our manufacturing expertise, the operation would turn discarded foam into carpet underlay and flooring products, keeping materials out of landfill and contributing to Scotland’s circular economy and net zero goals. If the first phase succeeds and the broader commercial and funding arrangements are confirmed, total investment could reach up to £12 million over three years, with the potential to generate up to 100 jobs in Scotland, including skilled manufacturing positions. Deloitte is advising Sarva Foam and its promoters on inorganic growth initiatives and is helping shape and advance this potential investment.
“We discussed this opportunity with the First Minister and will continue working with Scottish Enterprise to deliver the project.”