India emerges as third largest FDI source for United Kingdom
India has emerged as the third largest Foreign Direct Investment (FDI) source for United Kingdom (UK) in 2014-15.
It was revealed in recently released report Inward Investment Report 2014-15 of UK Trade and Industry (UKTI). This FDI source was based in terms of number of projects i.e. source of inward investment.
US has remained the largest source of inward investment for UK with a total of 564 projects in 2014-15 and was followed by France (124 projects) and India (122 projects).
During the year 2014-15, the FDI from India increased by 65 per cent and has resulted in creation of 7,730 jobs as well as protection of 1,620 jobs in UK. Sector wise Indian companies had invested in healthcare, agriculture-technology, food and drink.
As per the report, 70 countries have invested a record 1 trillion pounds in UK in 2014-15 making it Europe’s top FDI destination. It also has mentioned that UK has attracted 12 per cent more FDI projects compared to the previous year i.e. 2013-14.
Month: Current Affairs - June, 2015