Indian investments in the UK
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The UK
Indian investments/ 2008-10
FDI FROM INDIA AMOUNTED TO NEARLY RS 28,000CR BY 2008-END
India emerges as a leading investor in UK
Ashis Ray
London: India has emerged as one of the biggest investors in UK in terms of projects in 2009-10. “India is a hugely important source of investment for the UK,” said Andrew Cahn, the chief executive of UK Trade & Investment.
This would maintain a trend, since, in the previous financial year (2008-09), India was ranked second as investor under the same measurement, ahead of Japan and just behind the US. There were 108 project investments from India, which created 4,139 jobs.
The results for 2009-10, confirming the trend, are expected to be announced on Wednesday by Vince Cable, secretary of state for business, innovation and skills. More than 700 Indian companies have investments in the UK, two-thirds of these in the ICT/software category. FDI from India amounted to £3.5 billion or nearly Rs 28,000 crore by 2008-end. The event hosted by Cable at Lancaster House will focus on the importance of inward investment to promote jobs and growth in UK. The results, in fact, would measure the amount of investment into the UK based on project numbers and jobs created. The invested amount will not be disclosed, as the companies concerned are reluctant to reveal this.
Among Indian companies, Tatas have the most sizeable presence in Britain, owning prestigious carmaker Jaguar and Land Rover and Corus Steel, the UK’s largest firm in this sector. Tata Consultacy Services, in the IT arena, is also quite prominent. The Tatas employ nearly 50,000 people in the country.
The new Conservative-Liberal Democrat coalition regime in the UK, as a part of its proposed special relationship with India, is seeking even greater investment from India. Indeed, there is hope that the next wave of Indian investment in Britain could be even more dramatic than the move by the Tatas earlier in this decade.
That is because conditions are said to be particularly conducive at present for international corporations to take advantage of opportunities. The quoted prices of British companies have fallen; at the same time, research and development, skills and technology have survived at competitive and high quality levels, notwithstanding the bashing manufacturing industry suffered between 1979 and 1990 during the services-oriented policies of Prime Minister Margaret Thatcher.
In 2009, the UK retained its position as the most attractive destination for inward investment in Europe, according to Ernst & Young’s European Attractiveness Survey published last month. This will undoubtedly be enchoed in Cable’s presentation.
2013: India no. 2 in London
India bags silver for London investments
Kounteya Sinha TNN
The Times of India 2013/07/20
London: India has emerged the second-biggest investor in London after US, since the Olympics 2012.
A report for the government and mayor of London released on Friday showed that the British economy has seen a 9.9-billion-pound boost in trade and investment from hosting the London Olympic and Paralympic Games through new contracts and foreign investment in the last year to the Games.
London alone reaped 4 billion pounds of the FDI since the Games — a big chunk of which coming from Indian companies like Infosys, Axis bank, Indiabulls, Zomato Technologies, export house Vijay Enterprises and Delhi-based technology company Kayako Infotech.
The data shows that as many as 28 Indian projects through FDI have been completed between 2012-13 —ahead of 22 from China.
The US, however, led the table with 48 completed projects in 2012-13 which generated 1,694 jobs. In comparison, Indian projects generated 429 jobs, while China created 365 jobs.
The latest figures show that the number of completed FDI projects from India has increased since 2011-2012 during which 19 Indian FDI projects in London were completed creating 830 jobs. Indian FDI projects in 2012-13 will generate 24 million pounds for London’s economy over the next three years.
London and Partners CEO Gordon Innes told The Times of India that during last[2012] summer’s Olympics, mayor Boris Johnson hosted hundreds of business leaders including those from India to see what London could offer. The ‘Games Time Hosting Programme’ (GTHP), which cost 800,000 pounds, has so far resulted in the creation of 1,700 jobs and 24 secured investment projects. Innes said, “India is London’s second-most important investment market. We now intend to attract more Indian IT and gaming companies.”
Axis Bank, which attended the Games time hospitality programme, opened its London office, the first subsidiary outside of Asia in July 2013.
See also
Indian investments in the UK
