World news story
UK still Europe’s top investment destination, with help from India
UK maintains its lead yet again as the most popular destination in the Europe for overseas firms.
The UK has retained its position as Europe’s top investment destination. The UK’s Department for International Trade (DIT), has released new inward investment results for the tax year 2015 to 2016 showing that a record number of inward investment projects by international companies has created the second highest number of new jobs since records began.
- UK still Europe’s top investment destination. India emerges as the 2nd largest international job creator in UK and the 3rd largest investor overall.
- India helps UK maintain its top spot with 140 new projects in 2015-16 creating and safeguarding thousands of jobs.
- reciprocal relationship remains very strong: UK is the largest G20 investor in India and by this measure the biggest maker in India.
- British companies account for 1 in 20 Indian jobs in the organised private sector
Secretary of State for International Trade Dr. Liam Fox, who was on a three day visit to India said:
These impressive results show the UK continues to be the place to do business.
We’ve broadened our reach with emerging markets across the world to cement our position as the number one destination in Europe for investment. This continued vote of confidence in the UK will help attract foreign investment to create jobs, security and opportunities for people across the UK.
India has emerged as the second largest job creator in the UK by creating 7,105 new jobs over the period, and retained its position as the third largest investor in Britain second time in a row providing 140 projects. India closely follows China (which includes Hong Kong) with 156. The USA remained the UK’s largest source of inward investment providing 570 projects. The previous year, there was a 65% increase in FDI flow from India resulting in the creation of 7,730 jobs as well as protecting 1,620 more in 2014-15.
British High Commissioner to India, Dominic Asquith said:
India and the UK share a long-standing, highly collaborative relationship, fuelling the prosperity of both countries. This year India has enhanced its impressive record by emerging as the second largest job creator in the UK.
With India we share a two way relationship of growth as the UK is also India’s largest G20 investor. We want to build on this strategic partnership during the upcoming India UK TECH Summit which will be the biggest ever celebration of the depth of India-UK partnerships in business, innovation, research, education and entrepreneurship.
The latest investment figures come as a boost. UK maintains its lead yet again as the most popular destination in the Europe for overseas firms. The UK recorded a total of 2,213 inward investment projects, up by 11 per cent on the previous year. This lead to around 116,000 jobs being created or safeguarded - the second highest number on record.
Department for International Trade (DIT) helps UK-based companies succeed in the global economy. We also help overseas companies bring their high-quality investment to the UK’s dynamic economy.
DIT offers expertise and contacts through its extensive network of specialists in the UK, and in British embassies and other diplomatic offices around the world. We provide companies with the tools they require to be competitive on the world stage.
India-UK TECH Summit (7-9 November) is the flagship event in the 2016 India-UK Calendar. Spanning business, science, education, research and more it will feature an eye-catching and innovative expo that showcases the best, most cutting-edge UK technologies, world-leading thought-leadership sessions from UK and Indian panelists and high-level trade missions from the UK in healthcare, life sciences, future cities, advanced engineering & manufacturing and agri-tech.
There will also be a focus on Indian investment and entrepreneurship in the UK, and the 10 winners of the TECH Rocketship Awards will be announced at the summit. This is a GREAT for Collaboration initiative, announced during PM Modi’s visit to the UK last November, celebrating the strength of India-UK partnerships and forging brand new collaborations. TECH Summit comprises 4 concurrent summits: technology, entrepreneurship and innovation, higher education, design, intellectual property.
For media queries, please contact:
Stuart Adam, Head,
Press and Communications
British High Commission, Chanakyapuri
New Delhi 110021
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