A new joint report produced by the Confederation of Indian Industry (CII) and the High Commission of India in the UK has found Maharashtra, Karnataka and Delhi leading the charge when it comes to attracting foreign direct investment (FDI) into the UK
‘Indian Assets: Charting the Journeys of Indian Companies in the UK’, launched in London recently, revealed that companies headquartered in Maharashtra brought in the highest amount of FDI into the UK at 20 per cent in 2023, followed by Karnataka (12 per cent) and Delhi (8.6 per cent). The top 10 is completed by Gujarat (7.1 per cent), Tamil Nadu (6.7 per cent), Telangana (6.5 per cent), Uttar Pradesh (5.9 per cent), Haryana (4.5 per cent), West Bengal (3.14 per cent) and Kerala (3.05 per cent) – making up 78 per cent of the total FDI from India into the UK.
Vikram Doraiswami, Indian High Commissioner to the UK, said at the launch: “As India and the UK continue to evolve and navigate the complexities of a rapidly changing global landscape, I believe that our businesses reimagining the India-UK corridor will realise our shared vision and aspiration for a secure and sustainable future prosperity.”
MORE LIKE THIS…
The analysis finds the leading sector bringing in FDI from India in terms of the number of companies and employees is IT and software and highlights the achievements of Indian companies in the UK across sectors such as automotives, electric car batteries, diagnostics and healthcare, and technology. It also spotlights the positive impact Indian companies can have on heritage British brands and how the value of these legacy brands is retained and protected when acquired by Indian companies.
CII Director General Chandrajit Banerjee said: “Today, Indian companies with operations in the UK have integrated themselves into the British economy, making their mark in industries in almost all leading sectors. Their ability to adapt, innovate, and forge meaningful partnerships has not only propelled their own growth but has also enriched the economy of the UK and its regions, promoting job creation, driving investment, and fostering a culture of diversity and inclusion.”
MORE LIKE THIS…
Among some of the other key findings of the report, new Indian students cumulatively contributed an estimated £4.3 billion to UK universities – against the backdrop of a 5 per cent increase in UK student visas last year. It also showcases the robust relationship that Indian companies have across different UK regions, with the West Midlands, London and the north-west being the top recipients of Indian FDI in the UK across the field of automotive, software and IT services and energy.
