Recent investment wins for the UK worth over £100 million from
Indian companies are being celebrated as proof the government's
Plan for Change is providing global investors with the confidence
they need to do business in the UK.
Trade Secretary has been in New Delhi
this week, as the UK Government relaunched talks on a trade deal
with India to bring more opportunity to UK businesses and deliver
on its core mission to grow the economy, as part of the Plan for
Change.
UK Investment Minister is in Bangaluru on the
second leg of a two-city visit to India to bang the drum for
Britain, champion free trade and promote exciting investment
opportunities in the UK economy.
Recent Indian investments in the UK cover a range of sectors
including AI, professional services and textiles and are expected
to create hundreds of new jobs over the next three years.
This continues the trend of strong Indian investment into the UK
in recent years, with the last year-on-year change showing the
value of inward FDI stock from India having increased 28% at the
end of 2023. India has remained the second largest investor in
terms of number of projects into the UK for five consecutive
years.
The deals come as UK insurance companies gain more potential to
expand in India thanks to the recent Indian budget which
increased the amount of FDI permitted in the insurance sector
from 74% to 100%.
Business and Trade Secretary said:
“These investment deals will deliver more than £100 million for
the UK economy, creating jobs, strengthening growth, and helping
working people.
“They prove that the government's Plan for Change is giving
Indian businesses the confidence they need to continue investing
in Britain.
“Now the UK will strive to be more ambitious and collaborative
than ever before as we show the world why the UK is the best
place to invest.”
The investment announcements include:
-
Aaseya Technologies, professional services company
specialising in digital transformation through automation, is
growing its presence in London and creating up to 250 new
jobs over three years with a £25 million
investment.
-
Sastra Robotics is investing £8 million in Manchester over
three years, creating 75 new jobs. The investment aims to
expand the company's robotics innovation and development.
This is the first time a robotics company from South India
has invested in the UK.
-
AI CyberIntel company Deepcytes has set up its global
headquarters in London, investing £5 million and creating 80
jobs in the next three years to combat problems of
anti-bullying and cyber frauds.
-
University Living, a global student housing managed
marketplace, plan to open a new UK office, investing £10
million and creating 50 jobs over three years.
-
One of the largest producers of hand-knotted rugs in India,
Jaipur Rugs have opened a store in London and are looking to
create 75 jobs through a £5 million investment over the next
three years.
-
Time Cinemas have established their global headquarters in
the UK, introducing The Black Box by Time, an innovative,
patent applied, cloud platform solution that empowers
filmmakers, content creators, producers, and distributors to
reach out to a much wider cinema audience across geographies.
This expansion will create 75 new jobs in London over the
next three years, supported by a capital expenditure of £20
million.
-
Novigo solutions, a technology-focused organisation
specialising in end-to-end IT services, technology
consulting, business consulting, analytics, and robotic
process automation, has started its operation in Warwick by
investing £12 million and creating 75 jobs over three
years.
-
Test Yantra, one of India's largest testing and training
services companies, is investing £10 million and creating 100
jobs over the next three years.
-
Zoondia software, a leading provider of technology solutions,
AI solutions, custom software development, IOT, data
analytics and resource augmentation areas, is investing £10
million and creating 60 jobs over three
years.
Notes to editors
