India in top league of investors in Britain

July 3rd, 2008 - 7:12 pm ICT by IANS  

London, July 3 (IANS) Indian companies are in the top league of foreign investors in Britain, according to government figures published Thursday. Companies from around the world invested in 1,573 projects in Britain last year, marking a 10 percent increase from the previous year.

But investment from Asia Pacific grew at more than double the global rate, rising 25 percent to 415 companies deciding to locate or expand in Britain - the highest level on record.

Investment continued to grow from Japan, India and China with 102, 75 and 59 projects respectively, said UK Trade and Investment (UKTI), a government body, in its inward investment report for 2007-08.

UKTI’s director for India Jane Owen said the 75 Indian projects created well over 19,000 jobs in Britain.

“Indian investors recognise the UK’s favourable conditions including the pro-business environment and open regulatory framework.

“There are huge opportunities for Indian companies to build partnerships and gain from transfer of knowledge and technology, particularly through R&D investments in the UK,” she added.

The London Stock Exchange hosts 52 Indian companies, with a combined market cap of nine billion pounds. Indian firms have raised a total of three billion pounds through listings on the exchange.

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