Tags:
Journalism of Courage
Indian companies launched 75 new projects in Britain during 2007-08, making the country one of the largest sources of foreign investment in the UK, official figures released in London said.
In all, Britain attracted a record 1,573 foreign investment projects during the year, a 10 per cent increase from the previous year, according to figures released by the UK Trade and Investment, a government agency.
Investment into the UK continued to grow from Japan, India and China with 102, 75 and 59 projects respectively.
“India continues to share a strong business relationship with the UK. The results show 75 projects from India with well over 19,000 associated jobs,” Jane Owen, director of UK Trade and Investment for India, said.
“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,” Owen said.
“Indian investors recognise the UK’s favourable conditions including the pro-business environment and open regulatory framework.”
Indian firms have raised a total of 3 billion pounds through listings on the London Stock Exchange as the exchange hosts 52 Indian companies with a combined market cap of 9 billion pounds.
The Tata group has invested in the UK to increase the size and scale of its steel business (with the Corus acquisition during 2006-07 financial year) and during the last financial year purchased two luxury car brands, Jaguar and Land Rover, in a deal worth 1.15 billion pounds.
