• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Our Bureau

MUMBAI, May 19

A GROWING number of Indian firms are investing in the UK. According to a survey conducted by Invest.UK, the British Government's inward investment agency, 441 Indian firms have invested in the UK. Of these, 338 are in the ICT sector.

Apart from IT majors such as Infosys, Tata Consultancy Services, HCL Technologies, Wipro and Birla Soft, a number of firms from other sectors such as Bharat Forge, Thermax, Tata Tetley, Compact Disk India Ltd, Mastek and Bank of India, had also set up shop in the country, a statement from the Indo-British Partnership said.

According to the British Deputy High Commissioner, Mr Steve Firstbrook, here, the growing numbers were evidence of the confidence Indian firms had in the UK as a good business destination.

Many of these firms had opened offices in the UK in the hope of expanding their presence in Europe, he said.

According to him, trade and industry within the UK also viewed Indian companies "very favourably," and cited Mastek's contribution in developing the software for London's congestion charge as an example of their confidence in Indian business.

According to the statement, India was the second biggest investor from Asia in the UK. About 40 per cent of Indian overseas investments flowed into Europe, compared to 20 per cent to the US. Of the total Indian investment flows into Europe, over 60 per cent was concentrated in the UK, it added.

Invest.UK provides information to investors and assists companies set up or expand their business from bases in the UK, the statement said.

Article E-Mail :: Comment :: Syndication

Stories in this Section
HC stays water treatment unit set-up in Karaikal

Copyright © 2003, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line