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UK remains largest G20 investor in India: CBI

UK remains largest G20 investor in India: CBI

India Blooms News Service | | 23 Feb 2017, 11:36 pm
Birmingham, Feb 22 (IBNS): The Confederation of British Industry (CBI) on Thursday 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 8% 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% of all positions created by FDI.

British companies in India currently employ around 788,000 people, some representing over 1 in 20 in India’s organized private sector.

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. The vitality of the trade and investment relationship is demonstrated once again by the UK remaining India’s largest G20 investor of the 21st century, as the report shows.”

“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,” Asquith said.

The report also highlights key areas of British investments with the chemicals sector receiving the lion’s share at $6.1 billion (25% of UK FDI), followed by drugs and pharmaceuticals at $4.1 billion (17%) and food processing at $3.2 billion (14%).

Between 2000 and 2016, the UK invested $24.07 billion in India – increasing its investment by $1.87 billion between 2015 and 2016 – representing 8% of all foreign direct investment (FDI) into the country.

The report also highlights key areas of British investments with the chemicals sector receiving the lion’s share at $6.1 billion (25% of UK FDI), followed by drugs and pharmaceuticals at $4.1 billion (17%) and food processing at $3.2 billion (14%).

Between 2000 and 2016, the UK invested $24.07 billion in India – increasing its investment by $1.87 billion between 2015 and 2016 – representing 8% of all foreign direct investment (FDI) into the country.