India becomes Fourth Largest Foreign Investor into UK
As per the official figures published by the UK’s Department for International Trade, India has become the fourth largest foreign investor into the UK in 2016-17. India has lost its position as the third largest investor to France.
In 2016-17, India had set up 127 new projects and safeguarded 7,645 existing jobs and created 3,999 new jobs in the UK. India is sharing the fourth spot with Australia and New Zeland, which had also set up 127 projects collectively.
The US remains the top most investor in the UK by setting up of 577 projects in 2016-17. China (including Hong Kong) with 160 projects and France with 131 projects have been placed in the second and third positions respectively.
The UK continues to be a great inward investment destination and remains extremely attractive to foreign investors even after its decision to exit the EU. The UK attributes open, liberal economy, world-class talent and business-friendly taxation as a reason for remaining extremely attractive to foreign investors. The UK had managed to attract more Foreign Direct Investment (FDI) projects than ever before for 2016-17. In a sum, UK claims itself as the number one destination for inward investment in Europe with the sectors such as technology, renewable energy, life sciences and creative industries all witnessing an increase in the number of projects and investments.
Month: Current Affairs - July, 2017