The UK, is the largest Western investor in India, ahead of Germany and France, thanks to policy reforms, ease of doing business and huge market the country offers, said a recent report.
The ‘Sterling Assets: Britain Meets India’ report by the Confederation of British Industry and Grant Thornton India reveals that the UK strengthened its investments in India to become the largest single Western investor, creating 4.2 lakh job opportunities in India since the turn of the century.
Close to 38 per cent of British companies made new investments in India in 2017. Of the total FDI flows in the country, the UK directly invested $26.09 billion accounting for about 7 per cent.
The UK is the fourth largest investor in India and remains the largest investor in India outside of South-East Asia and Africa.
The main reasons British firms are attracted to India is the huge and growing market with an expanding middle class, easy availability of talented workers, ease of doing business policies and reforms such as the introduction of the Goods and Services Tax, the report said.
Vishesh C Chandiok, CEO, Grant Thornton India LLP, said in a statement, “As the 6th largest economy in the world and improved rating on the World Bank Ease of Doing Business (EODB) Index, India is now firmly placed as a very attractive investment destination.”