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India at the top as a leading investor in UK
14 July 2010: India has reportedly emerged as one of the biggest investors in UK in terms of projects in 2009-10.
This will 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.
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.
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 Consultancy Services 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.
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.
Source: Times of India