London, Feb 26 – The United Kingdom has welcomed over GBP 100 million in fresh investments from Indian companies, expected to generate hundreds of jobs in the coming years. This announcement comes as Business and Trade Secretary Jonathan Reynolds concluded his two-day visit to New Delhi, where he met with Union Commerce and Industry Minister Piyush Goyal to advance negotiations on the UK-India Free Trade Agreement (FTA).
According to the UK Department for Business and Trade (DBT), these investments span sectors such as artificial intelligence (AI), professional services, and textiles. The Indian Budget earlier this month further unlocked opportunities for UK firms by raising foreign direct investment (FDI) limits in India's insurance sector from 74% to 100%.
“These investment deals will bring over GBP 100 million to the UK economy, driving job creation and economic growth,” said Reynolds. “The UK is committed to fostering an ambitious and collaborative trade relationship with India.”
Indian Investments in the UK
Among the recent Indian investments in the UK:- Aaseya Technologies: A digital transformation specialist investing GBP 25 million.
- Sastra Robotics: Expanding robotics innovation in Manchester with an GBP 8 million investment.
- University Living: A student housing platform investing GBP 10 million in a UK office.
- Test Yantra: A software testing and training firm investing GBP 10 million.
UK Businesses Expanding in India
Meanwhile, several UK businesses have strengthened their presence in India:- Radio Design (Shipley-based) has established a manufacturing facility.
- Marcus Evans Group (London-based) has opened a Mumbai office.
- Microfresh (Leicester-based) is introducing antimicrobial technology to India's textile and leather industries.
- Novocuris (London-headquartered) has expanded operations across multiple Indian hospitals.
Strengthening Bilateral Trade
UK Investment Minister Poppy Gustafsson visited Bengaluru and Mumbai this week to promote trade and investment ties, reinforcing the UK’s commitment to deepening economic engagement with India.Official data highlights that UK businesses exported GBP 17 billion worth of goods and services to India in the 12 months leading to September 2024. Additionally, Indian FDI stock in the UK rose by 28% at the end of 2023, marking India as the second-largest investor in terms of project numbers for five consecutive years.
DBT emphasized that an FTA would lower trade barriers, making exports to India cheaper and easier for UK businesses. With India projected to become the world’s fourth-largest importer by 2035, the UK sees significant potential in expanding its footprint in the Indian market.
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