Skip to content
Search

Latest Stories

Indian investment in the UK climbs despite Brexit worries

BREXIT worries have not dampened the appetite of Indian investors for British business, a report showed today (25).

Data from almost 850 UK-incorporated limited firms of Indian interests showed a significant rise in the contribution to the British economy over the last year.


This year, there are 842 Indian businesses are operating in the UK with combined revenues of almost £48 billion, higher than that of last year’s £46.4 bn, according to the latest annual "India meets Britain Tracker" report.

The 2019 report, published by leading business and financial adviser Grant Thornton UK LLP in association with the Confederation of Indian Industry (CII), provides an overview of the complete landscape of Indian investment into the UK.

It also provides a Tracker of the fastest growing companies, as measured by those with turnover of more than £5m, year-on-year revenue growth of at least 10 per cent and a minimum two-year track-record in the UK.

Indian firms paid a combined total of over £684 million in corporation tax, higher when compared to £360m recorded in the 2018 report.

However, Indian firms employed 104,783 people this year, lower when compared to 104,932 recorded in 2018 report.

Three companies reported growth of more than 100 per cent in this year’s tracker report.

TMT Metal Holdings Limited recorded a growth rate of 649 per cent. This was followed by Route Mobile (UK) Limited, which reported growth of 189 per cent, and BB (UK) Ltd, which achieved turnover growth of almost 129 per cent in 2019 report.

Anuj Chande, partner and head of South Asia Group at Grant Thornton UK LLP said: “…the attraction for Indian investors and families includes factors such as top universities and the opportunity to do business in English.

“The fall in the value of sterling has also had a role to play, making UK assets increasingly attractive to overseas investors. Low rates of corporation tax and the ease of doing business in the UK also remain significant draws.”

Technology and telecommunication firms continue to dominate the tracker report, as they have done since its launch in 2014. This year, they account for 35 per cent of the fastest-growing companies.

Engineering and manufacturing companies were the next in line, accounting for 16 per cent of the 2019 tracker report.

Engineering and manufacturing, followed by pharmaceutical and chemicals firms, account for 15 per cent, continuing historically strong representation.

The geographical spread of the fastest-growing Indian businesses across the UK remains unchanged when compared to the last year.

London continues to be the preferred location for more than half (53 per cent) of the 62 fastest growing Indian companies.

The North and the Midlands rank joint second, accounting for 11 per cent of the companies included in this year’s Tracker, and the South accounts for 10 per cent.

A record number of Indian companies are now based in the UK, employing nearly 105,000 people.

More For You

Prudential to list Indian asset management venture

Prudential chief executive Anil Wadhwani

Prudential to list Indian asset management venture

INSURER Prudential plc announced that it is considering a partial listing of its stake in ICICI Prudential Asset Management, one of India's leading investment firms. The news sent Prudential's shares soaring by 5.8 per cent to close at 722p on the London Stock Exchange.

The FTSE 100 company currently holds a 49 per cent stake in the Indian joint venture, which market analysts estimate to be worth around £4 billion. ICICI Bank, which owns the remaining 51 per cent, has confirmed its intention to maintain its majority shareholding, emphasising its "long-term commitment" to the partnership that began in 1998, reported the Times.

Keep ReadingShow less
NatWest-Reuters

The bank has set a new performance target, aiming for a return on tangible equity of 15-16 per cent in 2025 and above 15 per cent by 2027. (Photo: Reuters)

What’s driving NatWest’s better-than-expected profit growth?

NATWEST reported higher-than-expected annual profit on Friday, supported by its growth strategy, improved productivity, and capital management efforts.

The bank, which once had assets worth 2.2 trillion pounds—more than twice the size of the British economy—has undergone years of restructuring to focus mainly on domestic consumer and mortgage lending.

Keep ReadingShow less
London business district
A general view shows the London's financial district from an office window in Canary Wharf. (Photo: Getty Images)

Economy grows 0.1 per cent in fourth quarter, defying expectations

THE UK economy expanded by 0.1 per cent in the final quarter of 2024, contrary to forecasts of a contraction, according to official data released on Thursday.

The growth, supported by a stronger-than-expected 0.4 per cent rise in December, offers some relief to chancellor Rachel Reeves as she navigates broader economic challenges.

Keep ReadingShow less
BP-Reuters

Fourth-quarter profit dropped 61 per cent compared to the previous year, marking BP’s weakest results since Q4 2020, when the pandemic reduced global oil demand. (Photo: Reuters)

BP reports lowest quarterly profit in four years, plans strategy reset

BP reported a quarterly profit of £943 million on Tuesday, falling short of expectations and marking its lowest in four years.

The company said it plans a "fundamental reset" of its strategy, days after reports that Elliott Management had taken a stake in the oil major.

Keep ReadingShow less
Shein-Reuters

Shein had aimed to go public in London in the first half of this year, subject to regulatory approvals in the UK and China. (Photo: Reuters)

Shein cuts valuation to £40 billion for London listing

SHEIN is preparing to lower its valuation to around £40 billion for a potential initial public offering (IPO) in London, according to three Reuters sources familiar with the matter.

This is nearly 25 per cent lower than the company's 2023 fundraising valuation as it faces increasing challenges.

Keep ReadingShow less