"UK firms still sitting on their hands when it comes to Indian investment," says London-based Indian entrepreneur
London [UK], June 26 (ANI): Sukhpal Ahluwalia, a leading London-based Indian entrepreneur, has urged UK businesses to ramp up their investments in India dramatically.
The comments come as Ahluwalia looks further to dial up his business interests in the country - and prepares to spend significantly more time in the country moving forward.
Ahluwalia believes the global trade war has the potential to push the UK and India even closer together - and that UK businesses should now take advantage of the fast-growing, burgeoning economy in India as they seek to diversify away from other countries, notably China.
Sukhpal Ahluwalia said, 'Too many UK businesses are still sitting on their hands when it comes to the business opportunity in India. The UK's foreign direct investment (FDI) in India in 2023 was around Pound 17 billion (Rs 1,46,100 crore). If this doesn't reach Pound 25 billion (Rs 2,92,500 crore) by the end of this year, UK businesses will have been missing a trick. I'm urging them to ramp up investment in India.'
'There are so many reasons that investing in India is a huge opportunity for UK businesses. India is growing rapidly, it has an increasingly urbanised consumer base, it has some of the most talented young professionals in the world, and the recent UK-India Free Trade Agreement provides a strong foundation for future growth,' he added.
'There is such a shared, deep history between the UK and India, yet I still see UK businesses investing too little in India. The global trade war is a wake-up call. Trump's tariffs, global uncertainty, and the ongoing trade war will focus many UK businesses' minds towards our long-standing, stable trading partners - and India is the foremost among them,' Ahluwalia added.
Ahluwalia is currently seeking to ramp up his investments in India and is on the lookout for growth opportunities across the automotive, tech, and real estate sectors.
He invests through his family office in both private equity and venture capital opportunities.
Currently based in London, Ahluwalia is one of the most influential Indian entrepreneurs in the UK. He is Executive Chairman of GSF Car Parts, the UK's fastest-growing car parts supplier, and founder of Dominus, a multi-billion-pound student accommodation and hospitality developer. He previously founded Euro Car Parts, Europe's largest car parts distributor.
In 2024, he was recognised as Asian Businessperson of the Year at the Asian Achievers Awards.
Over recent years, Ahluwalia has ramped up his business and philanthropic work in India and intends to spend significantly more time in the country moving forward.
Ahluwalia said, 'I have enjoyed spending more and more time in India over the last few years, and I look forward to ramping up that time further still over the coming years. But whilst I'm looking forward to returning to my homeland, I don't plan to hang up my business boots as I move into that next part of my life.
'Instead, I view my role as being a bridge between the UK and India. I want to play a positive role in supporting activity between the two countries, and I will be directly investing myself too. There is so much more we can be doing together as countries. And I see that as part of my life's mission,' Ahluwalia added. (ANI)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
United News of India
11 minutes ago
- United News of India
IFL Enterprises Limited's Rs. 49.15 Crore Rights Issue opened; Last date for On-Market Renunciation of REs is June 25
Ahmedabad (Gujarat) [India], June 25: The Rs. 49.15 crore Rights Issue of IFL Enterprises Limited (BSE – 540377), engaged in the agri commodity business including import, export and trading of agri commodities has opened for subscription on June 23, 2025 and will remain open till June 30, 2025. The Rights Issue is attractively priced at Rs. 1 per share, offering existing shareholders an opportunity to increase their equity in the company. The last date for On-Market Renunciation of REs is Wednesday, June 25, 2025. Highlights: Share in Rights Issue attractively priced at Rs. 1 per share Rights shares finalised in the ratio of 60 Rights Equity Shares for every 91 fully paid-up equity shares held. Last date for On-Market Renunciation is June 25, 2025 with Record Date fixed as June 13, 2025 Company registered Rs. 2.99 crore Net Profit, a 254% Y-o-Y rise & 13 fold revenue rise to Rs. 120.60 crore in FY25 The Rights Issue comprises 49,14,76,620 fully paid-up Equity Shares of face value Rs. 1 each, aggregating to Rs. 49.15 crore. Proceeds from the issue will be used to strengthen the company's financial position and support general corporate purposes. Shareholders holding equity shares as on the Record Date – June 13, 2025, will be eligible to apply for the rights shares in the ratio of 60 Rights Equity Shares for every 91 fully paid-up equity shares held. This capital raise follows the company's strategic direction under newly appointed Managing Director Mr. Abhishek Pratapkumar Thakkar, aimed at enhancing operational efficiency and expanding service capabilities. Earlier, Board of directors of the company on 30th December, 2024 and Draft Letter of Offer dated 07th March, 2025 submitted for obtaining 'In Principle Approval' for proposed Right Issue of up to Rs. 50.00 Crores (Rupees Fifty Crores) and 'In Principle Approval' received from BSE Limited vide its letter bearing No. LOD/RIGHT/KS/FIP/213/2025-26 dated May 19th, 2025. For the financial year that ended March 2025, company achieved revenue from operations of Rs. 120.60 crore, over 13 fold rise as compared to the revenue of Rs. 8.24 crore in the FY 2023-24. Net profit also rose to Rs. 2.99 crores for the FY25, compared to Rs. 84.5 lakh in FY24, a 254% Y-o-Y growth. Company has reported consolidated net profit of Rs. 3.04 crore in Q4 FY25. Revenue from operations during Q4FY25 reported rise multifold to Rs. 72.13 crore as against revenue of Rs. 1.98 crore in the Q4 FY24. In August 2024, company board approved bonus issue in the ratio of 1:150 (1 equity share as bonus for every 150 shares) held by the equity shareholders. Incorporated in the year 2009, IFL Enterprises Ltd currently deals in the agri commodity business including import, export of agriculture produce like fruits, vegetable, seeds, organic and herbal products, trading of agri commodity products including contract farming and warehousing. Company also deals in trading financial instruments like shares, stocks, and bonds. Rights Issue– IFL Enterprise Limited Right Issue Opens on June 23, 2025 Right Issue Closes on June 30, 2025 Issue Price -Rs. 1 Per Share Issue Size (No of Shares) – 49,14,76,620 Equity Shares Issue Size (Amount) – Rs. 49.15 crore Right Issue Entitlement – 60:91 (60 rights equity shares for every 91 fully paid-up Equity Share) Record Date- June 13, 2025 Last Date for On Market Renunciation -June 25, 2025
&w=3840&q=100)
Business Standard
13 minutes ago
- Business Standard
Nifty200 Momentum 30 Index to see around 20 changes in June 27 reshuffle
Analysts estimate Rs 16,000 crore in trade from the rebalancing as InterGlobe, HDFC Bank and others gain while M&M and Tech Mahindra face passive outflows Samie Modak Mumbai Listen to This Article The Nifty200 Momentum 30 Index is set for a significant overhaul on Friday, with as many as 20 of its components expected to be replaced. Analysts predict that the rebalancing will generate trade worth Rs 16,000 crore. Several companies, including InterGlobe Aviation (InterGlobe), HDFC Bank, and Kotak Mahindra Bank, could see inflows of nearly Rs 600 crore. Conversely, Mahindra & Mahindra (M&M), Eternal, and Tech Mahindra are expected to face passive selling in excess of Rs 550 crore, according to an analysis by Brian Freitas of Periscope Analytics, published on Smartkarma. 'Based on the expected changes to the index and
&w=3840&q=100)
Business Standard
14 minutes ago
- Business Standard
Salaam New York: Zohran Mamdani & a fusion of 3 cross-continental cultures
There has been a development in New York that challenges Donald Trump's America, where certain subjects – such as diversity, inclusion, immigrants, and Palestine – have become difficult to venture into. It is the primary victory of Zohran Kwame Mamdani in the mayoral election, one that makes him likely to become New York City's first Indian-American and first Muslim mayor if he wins against the Republican candidate in November. The 33-year-old Democratic candidate, who is a former Republican, was born to immigrant parents, supports Palestine, has a socialist agenda for New York, including free childcare and rent cap, feels strongly about climate change, wants to tax wealthy Big Apple residents, and increase corporate tax. His pro-Palestine slogan, 'Globalise the intifada (rebellion or uprising)', has his opponents gunning for him and the American media dissecting his politics, but he has stood his ground. In many ways, Mamdani symbolises multiculturalism, which stems from the family he comes from, the relationships he has forged, and the arts he has embraced. His mother, Mira Nair, is a well-recognised Indian-American filmmaker, many of whose movies have been critically acclaimed globally. Among them are Salaam Bombay!, Mississippi Masala, The Namesake, Queen of Katwe, Monsoon Wedding, in each of which she pushes boundaries, often turning the spotlight on the underdog, bringing the missable into focus: Whether it is about the struggles of first-generation immigrants (The Namesake), who are caught between two cultures, and their children, who believe they belong to their parents' adopted country but don't quite; or, about the precarious lives of children in the slums of the financial powerhouse now called Mumbai (Salaam Bombay!), where the actors are the street children themselves; or about the travails of a 10-year-old chess prodigy born in a disadvantaged part of Uganda (Queen of Katwe). There is a story behind the name 'Nair', which appears to indicate that Mamdani's mother has roots in Kerala. She is, however, a Punjabi, and her father was in the Indian Administrative Service and mother a social worker. The family name, Nayyar, was changed to 'Nair' by her grandfather for reasons unclear. There is also a story behind Mamdani's middle name, 'Kwame'. It was given to him by his Indian-Ugandan father, Mahmood Mamdani, in honour of the first President of Ghana, Kwame Nkrumah, whom the BBC described as a 'Hero of Independence' and an 'international symbol of freedom as the leader of the first black African country to shake off the chains of colonial rule'. An academic, Mamdani Senior, whose specialisation includes colonialism and post-colonialism, was born in pre-Independence Bombay to Gujarati Shia Muslim parents, who later migrated to Kampala, Uganda. He would, after coming to study in the United States in the '60s, participate in the civil rights movement, and would also be jailed. It wouldn't be amiss to say that a lot of Zohran Mamdani's politics has been shaped by his parents'. In 2013, for instance, Mira Nair had turned down an invitation to the Haifa International Film Festival in Israel as a guest of honour. On what was then called Twitter, and is now X, she posted: 'I will go to Israel when the walls come down. I will go to Israel when occupation is gone... I stand w/ Palestine for the Academic and Cultural Boycott of Israel…' The mayor probable's parents, incidentally, met in Uganda while Nair was researching for Mississippi Masala, and that's where he was born in 1991 – coincidentally, the year the film was released. The couple immigrated to the US when he was seven. Earlier this year, Zohran Mamdani married Syrian-American artist Rama Duwaji, whose work, besides exploring migration, heritage, community and identity, also draws to pro-Palestinian themes. The arts have been Mamdani's constant companion – not just because of his filmmaker mother and artist wife. He is a former rapper. Nine years ago, he released an EP, titled 'Sidda Mukyaalo' (Luganda for 'No going back to the village'), along with Ugandan rapper HAB. And in 2019 came a single, titled 'Nani' – a tribute to his maternal grandmother, Praveen Nair, rich with cultural references to India. It featured the multifaceted actor and cookbook author Madhur Jaffrey as a revolutionary 'nani'. This video can be found on the YouTube channel called 'Mr Cardamom', a moniker Mamdani gave himself. It's a clever sobriquet, given that he is a lawmaker from Queens, and cardamom is recognised as the 'queen of spices'. It is a versatile spice, one that works both in sweet and savoury preparations, and while it is never the core ingredient, it always makes its presence known. Mamdani has also made the world sit up and take note. In 2019, when he first ran for office (New York State Assembly), he redirected his followers from 'Mr Cardamom' to his official handle on X with this message: 'You know I'll be forever spicy but I'm taking a break from being a spice to answer the question of what happens when a B-list rapper runs for office….'. His official handle now has something like 376,000 followers, whereas Mr Cardamom is at 380. Meanwhile, US President Donald Trump has gone after Mamdani through his social media platform, Truth Social, branding him a '100 per cent communist lunatic' and saying that 'the Democrats have crossed the line'. The rapper-turned-politician, however, is staying the course. In November, if he is elected New York City's mayor, one of the things he'll be doing is to oversee the largest municipal Budget in the US.
