The latest data to confirm Britain’s increasing interest in investing in India will make PM Narendra Modi happy a couple of months before he embarks on his maiden visit to the United Kingdom.
The UK has become the largest investor in India among all G20 countries with a combined revenue of more than $54 billion in India.
Between the year 2000 and 2015, UK’s FDI into India amounts to $22 billion – 9% of all FDI in the country.
In total, G20 nations invested $ 73.9 billion in India between 2000-2015 with the UK being the single largest G20 investor into India followed by Japan ($ 18.3 bn), the US ($13.7bn), Germany ($ 7.6 bn) and France ($ 4.5 billion).
As India’s largest employer, UK firms employ around 691,000 people across the country – 5.5% of total organized private sector jobs in the country. Between 2000 and 2015, UK FDI generated around 138,000 direct jobs, 7% of the total 1.96 million jobs generated by FDI in India.
India’s massive talent pool was the main reason for 63% of the British companies to believe in India’s potential while India’s recent growth story made 86% of them turn to interest towards the Asian giant. English being an official language has helped, too, with 53% of the companies relying on it while 40% said it was the country’s stable government.