UK is G20’s largest investor in India: Report
London: With an investment of USD 22.2 billion in five years, Britain has emerged as the G20’s single-largest investor in India, according to a report published here today.
The Confederation of British Industry (CBI) published its first Sterling assets ‘India Report’ to account for investments between 2000 and 2015.
According to the Pricewaterhouse Coopers (PwC) sponsored report, the UK invested USD 22.2 billion in India during the five-year period, representing 9 per cent of all foreign direct investment (FDI) in the country.
The investment was bigger than that of the US and Japan and substantially ahead of other European G20 nations, making the UK the largest foreign investor in India after Singapore and Mauritius.
The report claimed that Britain directly creates more jobs in India than any other G20 nation, with British direct investments generating over 137,000 jobs, accounting for 7 per cent of jobs generated by FDI in the country.
After the US, Britain is the second-biggest generator of service sector jobs in India, with an estimated 43,000 positions created, while British firms in India are estimated to employ 691,000 people, representing 5.5 per cent of the organised private sector workforce in the country.
“The economic relationship between India and the United Kingdom is in fine fettle,” said Katja Hall, CBI deputy director-general.
“The UK has played a significant role in India’s growth journey, investing more and creating more jobs than any other G20 nation, as well as going the extra mile on corporate social responsibility.
Building trade links with key markets is mission critical to boosting growth, creating jobs and enhancing productivity across the UK,” she said.