Team Blitz India
LONDON: Indian-owned companies operating in the UK have hit a record high of 954 this year, registering a significant increase over the previous year, according to the ‘India Meets Britain Tracker 2023’.
The 2023 analysis found that the combined turnover of Indian-owned companies in Britain has more than doubled — from 19 billion pounds in 2014 to 50.5 billion pounds in 2023, newspapers reported on May 13.
Bilateral trade between India and the UK has more than doubled from 16.4 billion pounds in 2013 to 35.9 billion pounds in 2022, which shows that the UK continues to have an attractive offering for Indian investors.
With the ninth round of negotiations on an India-UK free trade agreement (FTA) now complete, the latest research found that the number of Indian-owned companies operating in the UK remained at its highest level over the past 12 months despite businesses and economies worldwide still feeling the impact of the pandemic.
The increase in the number of Indian companies in the UK is reflective of the growing relationship between the two countries, with the past decade witnessing ever-deepening ties.
