Investment from India in the UK increased by 65 per cent making it the UK’s third largest source of FDI accounting for more than 9,000 new and safeguarded jobs, according to a UK Trade and Industry report.
The report highlights how India’s investment in the UK forms part of a £1 trillion of foreign direct investment (FDI) in the UK in 2014, making it the top FDI destination in Europe.
Investment in the UK came from more than 70 countries including India, and world’s leading emerging markets. The US remains the largest source of inward investment, with a total of 564 projects in 2014, followed by France with 124 projects, and India with 122 projects.
There was also evidence of a strengthening relationship with China, with 99 projects in 2014 resulting in more than 3,000 new jobs.
“India and the UK share a long-standing, highly collaborative relationship, fuelling the prosperity of both countries and we greatly value our association with India. The fact that in 2014-15 Indians were the third largest job creators in the UK is a tremendous testimony to the strength of our ties, while the UK is also the largest G20 investor in India, proving the two-way relationship," said British Commissioner to India, James Bevan KCMG in a press statement.
"At a time when global FDI flows have fallen, investors from India understand that the UK is welcoming, diverse and open for business.”
The report shows in 2014-15, the UK has attracted 12 per cent more FDI projects compared to the previous year.