UK seeks investment in ICT, banking, engineering sectors

India fifth biggest investor in UK in terms of number of projects and third largest investor in terms of creating new jobs there

Moved by the growth of the Indian companies across varied sectors, the United Kingdom has sought investments from India in ICT (information and communication technology), banking and financial services and advanced engineering sectors.

“The priority sectors in which investments are sought are business and financial services, advanced engineering, ICTs. We are also in discussions with some  companies and will apprise them about the opportunities in the UK,” said Sandip Chaudhuri, advisor, UK Trade and Investment.

He told media persons on the sidelines of ‘Great Inward Investment Seminar’ organized by UK Trade and Investment, British Deputy High Commission, Kolkata.

India is the fifth biggest investor in UK in terms of number of projects and third largest investor in terms of creating new jobs there.

“Every year around 70-80 new projects are happening in the UK. The new projects are either undertaken by the companies already located there or the new greenfield projects which have started  their operation,” he added.

Chaudhuri said that office spaces are available on soft landing mode at a nominal amount.

In a bid to woo companies, the UK will lower its corporation tax to 20 per cent by April 2015. “The UK offers low tax burden among the G7 countries.The corporation tax now stands at 24 per cent and will be further lowered to 21 per cent in April 2014 and 20 per cent by April 2015,” he said and added that UK is the number one FDI destination in Europe.

In a related development, the British Council today announced the Great UK Education scholarships that will be offered to 370 Indian students applying for the September 2014 and January 2015 intakes.

Sujata Sen, director, East India, British Council said that the scholarships, being offered as part of the Great Britain campaign, is worth a total of 1 million pounds and would be made available to students in about 36 UK universities. The institutions are from England, Scotland, Wales and Northern Ireland. The scholarship would be offered in 260 undergraduate and post-graduate courses, ranging from engineering and law to art and design.

British Council today announced the inauguration of GREAT UK Education Seminars at Bhubaneswar which will be held on Thursday.