Skip to content
Search

Latest Stories

UK-India business payments surge by over 120 per cent in nine months

Payments from UK clients to India increased by 32 per cent, while payments received from India rose by 121 per cent in the nine months leading to October.

Starmer-Modi-Getty
Starmer during a bilateral meeting with Modi as he attends the G20 summit on November 18, 2024 in Rio de Janeiro, Brazil. (Photo: Getty Images)

BUSINESS activity between the UK and India has seen a significant surge over the past nine months, according to data from HSBC UK.

Payments from UK clients to India increased by 32 per cent, while payments received from India rose by 121 per cent in the nine months leading to October, The Times reported.


The data highlights the strengthening trade ties as the UK and India prepare to resume trade talks in January. This follows Keir Starmer's bilateral meeting with Indian prime minister Narendra Modi at the G20 summit.

“It is a really strong two-way trade,” Stuart Tait, head of commercial banking at HSBC UK, told The Times. He highlighted India’s urbanisation, infrastructure investments, and growing affluence as key factors driving UK businesses’ involvement.

Global Metcorp, a UK company exporting scrap metal, noted steady demand from India. “We have existing and continuous demand for scrap metal there, as well as in surrounding countries,” said Ashish Chaudhari, its director.

Vineet Sharma, managing partner at Paritra Investment Research, pointed to Scotch whisky and defence equipment as areas with significant export potential for the UK.

India’s high-tech manufacturing and service sectors also play a role in strengthening ties. Stuart Tait noted the increasing complexity of work handled by India’s service centres and the capability of the Indian workforce.

Foreign direct investment (FDI) has also grown, with HSBC UK reporting a 36 per cent year-on-year increase in client referrals from HSBC India.

In 2022, India contributed £10.2 billion in FDI to the UK, while UK investment in India reached £20.1 bn.

More For You

Car Tax Changes: EV Owners Now Required to Pay for the First Time

Owners of electric vehicles registered on or after 1 April 2025 will pay £10 for the first year, followed by the standard VED rate of £195 from the second year. (Representational image: iStock)

iStock

Car tax changes take effect: EV owners to pay for first time

FROM today, 1 April 2025, electric cars, vans, and motorcycles in the UK will be subject to Vehicle Excise Duty (VED) for the first time.

The change, introduced in the 2022 Autumn Statement by former Conservative Chancellor Jeremy Hunt, aims to make motoring taxation fairer.

Keep ReadingShow less
scotland-minimum-wages-iStock

Full-time workers on the National Living Wage will receive an annual pay increase of £1,400 in real terms. (Representational image: iStock)

iStock

Wage increase takes effect for thousands of workers in Scotland

HUNDREDS of thousands of workers in Scotland will see a pay increase as new National Living Wage and National Minimum Wage rates take effect from Tuesday.

The changes will benefit approximately 220,000 people, according to STV News.

Keep ReadingShow less
uk-energy-bill-iStock

Water bills, energy prices, and council tax are rising, while the minimum wage has also increased (Representational image: iStock)

iStock

April bill increases put financial strain on single parents

A RANGE of essential household bills are increasing from April, with Citizens Advice warning that single parents will be among the hardest hit.

Water bills, energy prices, and council tax are rising, while the minimum wage has also increased, BBC reported.

Keep ReadingShow less
Netflix drama Adolescence to be screened in UK schools
Stephen Graham and Owen Cooper in 'Adolescence'
Netflix

Netflix drama Adolescence to be screened in UK schools

THE NETFLIX drama Adolescence will be shown in UK secondary schools as part of efforts to address harmful online influences on young boys, officials announced on Monday.

The show has sparked debate over the impact of toxic and misogynistic content on the internet. Prime minister Keir Starmer met the show's creators, charities, and young people at Downing Street, calling the initiative an important step in starting discussions about the content teenagers are exposed to online.

Keep ReadingShow less
Sanger-Tribute

Indian high commissioner Vikram Doraiswami speaking at the memorial.

Bhavan London pays tribute to Joginder Sanger

BHAVAN LONDON held a tribute event on 27 March to honour Joginder Sanger, a British Indian hotelier and philanthropist who passed away at 82 on 28 February.

Sanger, born in Jalandhar, India, established several London hotels, including the Washington Mayfair Hotel, Courthouse Hotels in Soho and Shoreditch, and the Bentley in Kensington.

Keep ReadingShow less