New Delhi: Being the third largest investor in the UK and, possibly, the sturdiest player among the emerging economies including the BRICS nations – Brazil, Russia, India, China and South Africa, India is showing a growing interest in the UK. Among the recent high-profile investors is Tata Motors which acquired the iconic UK car brand- Jaguar Land Rover.
There is a large number of firms owned by Indian businesses in the United Kingdom. At the point where the Chinese, Brazilian and Russian financial prudence is displaying signs of slowing, India is growing at a good pace.
Due to a slowdown in China economy, India is getting benefited and is able to excel, growing at a rate of 7% per year, pushing it at par with China. The growth of Indian investment is discovering new commercial spaces in the UK.
As per a recent report from the government department of UK Trade & Investment (UKTI), India became the third-largest source of foreign direct investment (FDI) in the UK.
In the year 2014 itself, Indian investment into the UK increased to 64% and is, more or less, at the same level as France, the second largest investor in Great Britain.
Indian investors in the UK this year itself created 7,730 new jobs in the country. There are over 800 India-owned business houses in the UK giving jobs to more than 110,000 employees.
But at the same time investments from the UK have also increased in India. BBC quoted a report stating the investment pattern since 2000 to 2015, from the UK to India has been $22.2bn (£14.5bn). This accounts for 9% of the FDI in India.
The UK is the third- largest foreign investor in India after Mauritius and Singapore.
The Indian government is making individual states more competitive and open to seek for investment by cutting red tape and simplifying investment criteria.
This brings India at par with the UK in the growing economic market and with the Prime Minister Narendra Modi in UK, these facts can play a favourable role for India.
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