India continues to be a key investor in the UK amid trade talks
India remains the second largest investor in the UK, as revealed in the UK’s Department for International Trade Foreign Direct Investment (FDI) 2022/23 figures. Meanwhile, the Enhanced Trade Agreement between India and the UK is progressing well. The financial year 2022-23 saw 118 Indian-sourced FDI projects successfully land in the UK, which includes new investments, mergers & acquisitions, and expansions. These projects created 8,384 new jobs in the UK.
With the IMF predicting that India will become the third largest economy in the world by 2028 and its recent successful hosting of the G20 summit, the country’s global power and importance to the UK is increasingly significant. India’s overall contribution to the UK economy is considerable and current trade between the UK and India is worth around £36.3 billion, making it the UK’s 12th largest trading partner. This reflects a clear opportunity for continued improvements and increased investments.
Moore Kingston Smith’s India Group has advised many businesses investing in the UK and we are in discussion with many looking to set up in the coming year.