India recorded $1422 mn FDI inflow from UK in 2019-20: Grant Thornton report


BENGALURU: The FDI inflow from the UK to India has increased from $898 million in 2015- 16 to $1,422 million in 2019-20, according to Grant Thornton Bharat’s Britain Meets India report released on Wednesday.

The report prepared in collaboration with the Confederation of Indian Industry (CII) and with the support of the UK’s Department of International Trade observes the latest trends on the UK investments in India.

“Our research identified 572 UK companies in India with a combined turnover of around Rs 3,390 billion, tax payment of around Rs 173 billion and they have employed 416,121 people directly. This reflects the important contribution made by the UK companies to the Indian economy as a key ally in India’s growth story,” said Pallavi Joshi Bakhru, Partner and India-UK Corridor Leader at Grant Thornton Bharat LLP.

The report has predicted the India-UK bilateral relations to touch a new high in the post-Covid world. The UK companies have mainly focused on industrial and business services sectors. Maharashtra has come out as the top investment destination for UK companies, followed by Haryana, Delhi, Tamil Nadu, Telangana and Karnataka.





READ SOURCE

READ  New warning on vaccine supplies sparks EU concern

LEAVE A REPLY

Please enter your comment!
Please enter your name here