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British High Commissioner to India Michael Arthur said “With Indian businesses
investing £1.02 billion into the UK, India now ranks as the third largest
foreign investor in the UK globally, and the second largest from the
Asia-Pacific region.” Other than L.N. Mittal, Mahindra & Mahindra, Essel
Propack, and Nicholas Piramal are making strategic investment in countries like
UK to expand their global reach.
Indian foreign investment projects into the UK increased by 110% in 2005-06.
During 2005-06, the UK recorded a total of 76 investment projects from India
generating 1,450 jobs.
According to the 2005-06 UK Investment Review Report “The flow of Indian
investment to the UK has turned from a trickle in the late 1990s to a flood,
with the scope and breadth of projects rapidly expanding. While IT remains the
dominant sector for investment, there is strong growth in investments in
pharmaceuticals and engineering as well.”
In 2005-06, 1,217 foreign companies invested in the UK registering a 14.3%
increase. The US has 446 projects, Japan 84, and India 76 are the top three
investors. The Indian 76 include 39 from Mumbai, New Delhi 10, Bangalore,
Chennai, and Hyderabad 22 each, and Kolkata 5. Sector-wise, Information
Technology firms had 26 projects followed by 12 from pharmaceutical and
healthcare projects, eight from financial services and six in automotive and
engineering companies.
Largest Indian bank, state-owned
State Bank of
India has recently opened branches in Manchester, Leicester and Birmingham.
Arthur said that British companies are also increasingly look at investment
opportunities in India, there is a need for India to further liberalize its
policies to increase
foreign direct
investment. Specifically, he said UK companies are interested in the
insurance, legal, financial, and services sectors. He also asked for
restrictions on operations of foreign banks.
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