THE UK is the single largest investor into India out of the G20 nations, according to a new report from the CBI.
The Sterling assets India report, which is sponsored by PwC UK in association with the UK India Business Council, highlights the powerful ties between Britain and India. Between 2000 and 2015, the UK invested $22.2bn into India, which is nine per cent of all foreign direct investment (FDI) in the country. This was ahead of the US and Japan, and substantially ahead of other European G20 nations. The UK is the largest foreign investor into India after Singapore and Mauritius.
The UK creates more jobs in India than any other G20 nation, the survey found. British direct investments generate more than 137,000 jobs, which is nearly seven per cent of jobs generated by FDI in India.
Katja Hall, the CBI’s deputy director-general, said: “The economic relationship between India and the United Kingdom is in fine fettle. The UK has played a significant role in India’s growth journey, investing more and creating more jobs than any other G20 nation, as well as going the extra mile on corporate social responsibility.”
Mukesh Rajani, India Business Group Leader at PwC UK, said: “The UK has been one of India’s largest investors for decades and this research has shown that it has continued to lead over the last 15 years by being the largest job creator and investor amongst the G20. But with Japan and other territories rapidly increasing levels of direct investment in the last few years, this advantage is by no means guaranteed.
“What’s clear from our experience, and from this report, is that the UK will need to maintain a very active strategy for engagement and interaction with the Indian economy at all levels, in order to retain its position.”