Indian investment on the rise in the UK
The UK Government has launched a tool-kit to assist Indian companies looking to expand into the UK.
Launching the document entitled "Infinite Possibilities: A Guide to Establishing a Presence in the UK", Sir Michael Arthur, British High Commissioner to India, said: "Infinite Possibilities is a step-by-step guide produced specifically for Indian companies by UK Trade & Investment, to support them in setting up or expanding into the UK.
"Cross border investment has proven to be one of the most powerful stimulants of economic activity, presenting opportunities for exchange not just of capital, but of ideas, skills and technology. As confirmed in the recent UNCTAD world report on investment, the UK is where the world does business.
"The UK remains the number one business investment location in Europe. This guide will help better equip Indian companies to set up in the UK, with full access to the European Market from the UK bridgehead, and so compete at the highest level in the global market place."
In jointly launching the guide, President of NASSCOM, Kiran Karnik, commended Infinite Possibilities to Indian companies and said: "The growth of the Indian IT industry is built on key partnerships with the world's strongest markets, namely the UK and the US.
"The active involvement of the Indian community and its contribution to the UK economy, particularly in the IT domain, is an important fact in the creation of the strong business relationship between our two countries."
Mr Sumit Bhattacharya, Executive Vice-President at HCL Technologies BPO Services, one of India's leading investors in the UK said: "We relied on UK Trade & Investment to guide us through the critical processes during the acquisition period. They were extremely helpful and consistently proactive not only during the transaction but on an ongoing basis."
UK Trade & Investment is the UK Government organisation that provides integrated support and services to foreign businesses focused on the UK as an inward investment location and to UK companies engaged in overseas trade.
The principal aim of the inward investment team is to attract, retain and add value to investment by communicating the benefits of the UK as the first choice in Europe for potential investors. It identifies and approaches potential investors and assists them with all aspects of locating and expanding in the UK.
Indian Investment into the UK
The number of Indian businesses investing in the UK continues to increase, by 47 per cent in 2003-4, against 2002-03.
UK Trade & Investment figures show that 28 new investments from India were established in the UK in 2003-2004, creating 646 new jobs and bringing the total number of Indian companies in the UK to 480, with over 350 in the IT/Software.
This year 2004/05 continues to see increasing numbers of Indian companies setting up and expanding into the UK. Q2 project figures for which UK Trade & Investment are involved are already up 14% on 2003/04.
Latest figures also confirm the UK's position as top European investment location for Indian companies targeting the European market and beyond. 60% of India's FDI into Europe comes to the UK.
India is now the 2nd largest source of FDI into the UK from Asia in terms of projects and jobs generated and ranks among the UK's top ten Foreign Direct Investment markets
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