India and Britain enjoy strong business and historic eyes
INVESTMENT from India into Britain increased last year by 65 per cent, making India the UK’s third largest source of foreign direct investment (FDI), latest figures show.
Britain attracted 1,988 FDI projects, 12 per cent more compared to 2013-14, according to annual investment figures from the UK Trade and Investment (UKTI) for 2014-15.
Foreign investment led to the creation of almost 85,000 new jobs and 23,000 safeguarded jobs across the UK, according to the UKTI.
Britain’s performance last year saw the country’s inward FDI stock – the value of accumulated FDI in the UK – break the £1 trillion level for the first time.
This is the highest in Europe and third in the world after the United States and China.
Prime minister David Cameron said: “The scale of foreign investment is a huge success story which shows that Britain is the place to do business and is more evidence that our long-term economic plan is working.
“Securing investment from overseas is a key part of our One Nation policies to create thousands of jobs, provide security and opportunities for working people throughout the UK.”
The top three countries for foreign investment were the US, France and India, followed by China, Japan and Germany.
Trade and investment minister Lord Maude said: “2014 was an exceptional year for UK inward investment. We are proud to be bucking the global trend.
“The UK is a great place for entrepreneurs and corporations to put their energy, their ideas, their money and their talents to work. The government will continue to work hard to attract investment from across the globe to further strengthen the UK economy.”