India investments in UK up 47 per cent

Indian investments in the UK have increased by 47 per cent this year. According to a joint report by Ernst and Young along with UNCTAD World Investment Report, 60 per cent of India's foreign direct investment ( FDI) into Europe comes to the UK.

Against this background, the UK government has released a book for Indian companies wanting to expand its operations in the country.

In a release Kiran Karnik, president of National Association for Sofware Services and Companies (NASSCOM) said, "The active involvement of the Indian community and its contribution to the UK economy, particularly in IT, is an important fact in the creation of the strong business relationship between our two countries."

The release said that a total of 811 new investment projects from 40 countries around the world were reported this year of which 28 new investments from India compared with China's 23, according to the release.

India is now the 2nd largest source of FDI into the UK from Asia in terms of projects and jobs generated just behind Japan with 52 projects and 2,344 jobs. India ranks among the UK's top ten Foreign Direct Investment markets, the release stated.