UK sees growth in Indian investment, says Grant Thornton

Investment in the UK from Indian companies is growing steadily, according to a survey commissioned by Grant Thorton and the Confederation of Indian Industry.

The accounting firm analysed the data from UK-incorporated limited companies that are either owned or controlled by Indian interests, and found that there are 850 Indian companies operating in the UK, up from 842 in 2020.

According to the report, these companies recorded £50.8bn in total turnover, up from £41.2bn in 2020, and employ over 116,000 people.

Anuj Chande, head of South Asia Business Group for Grant Thornton, said: “Despite the challenges of the past year and, as Britain aims to increase trading and investment links around the world post Brexit, the long-standing ties between Britain and India only look set to deepen.

“Our research finds that the number of Indian companies operating in the UK has increased and that many continue to grow at a rapid rate, with some recording triple digit growth. Brexit marks a significant moment for the UK-India relationship. With a UK-EU Trade and Cooperation Agreement now reached, the UK is free to begin developing its new post-Brexit identity as a ‘Global Britain’ and to strengthen links with major economies beyond Europe.”

He added: “India looks to be one of the first, with the Prime Minister’s postponed visit to India – set to have been his first international visit outside of Europe post-Brexit – a clear indication of the significance of the relationship, with both parties confirming that the conversation will continue online for now.

“As the UK government looks to supercharge the economic partnership to support growth, jobs and prosperity, and India continues its journey to becoming one of the world’s largest economies, the ‘living bridge’ between the two countries, formed by more than 1.5m Indian diaspora living in the UK, will be more important than ever.”