UK remains largest G20 investor, job creator in India
New Delhi [India], Feb. 23 (ANI): The Confederation of British Industry (CBI) has announced that the United Kingdom remained the largest G20 investor in India.
The second edition of CBI's Sterling Assets India report, supported by PwC and the UK India Business Council, stated that the UK was responsible for eight percent of all foreign direct investment (FDI) into India between 2000 and 2016. In the same period, the UK was also the largest FDI job creator in India contributing 371,000 jobs, 10 percent of all positions created by FDI.
British companies in India currently employ around 788,000 people.
British High Commissioner to India, Dominic Asquith said, "The economic and strategic relationship between India and the UK contributes centrally to the prosperity and security of both countries."
"Indian investors also find the UK a lucrative market, as our third largest overseas investor and second largest job creator. This superhighway of investment and jobs only strengthens the living bridge of people, ideas, technology, culture and science between the UK and India, providing real-world benefits for both countries," he added.
The report also highlights key areas of British investments with the chemicals sector receiving the lion's share at USD 6.1 billion (25 percent of UK FDI), followed by drugs and pharmaceuticals at USD 4.1 billion (17 percent) and food processing at USD 3.2 billion (14 percent).
Between 2000 and 2016, the UK invested USD 24.07 billion in India – increasing its investment by USD1.87 billion between 2015 and 2016 – representing eight percent of all foreign direct investment (FDI) into the country. (ANI)