Latest news with #IndiaMeetsBritainTracker
Time of India
9 hours ago
- Business
- Time of India
UK sees record 23 pc surge in number of Indian-owned businesses; revenue hits GBP 72.14 billion
The combined revenues reported by Indian-owned companies in the UK increased to GBP 72.14 billion from GBP 68.09 billion in 2024, showed the latest annual 'India Meets Britain Tracker', an analysis by global financial advisory firm Grant Thornton in collaboration with industry body CII (Confederation of Indian Industry). Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads LONDON: The number of Indian-owned companies operating in the UK has increased 23 per cent year-on-year to reach 1,197 this year, recording the steepest pace of annual growth, according to an combined revenues reported by Indian-owned companies in the UK increased to GBP 72.14 billion from GBP 68.09 billion in 2024, showed the latest annual 'India Meets Britain Tracker', an analysis by global financial advisory firm Grant Thornton in collaboration with industry body CII (Confederation of Indian Industry).There are now 1,197 Indian-owned companies operating in the UK, more than 23 per cent compared to the figures of 2024, said the 12th edition of the latest annual Tracker was launched during the UK-India Week at the India Global Forum (IGF) in London on Wednesday by Commerce and Industry Minister Piyush Goyal and UK Business and Trade Secretary Jonathan Reynolds Goyal is here on a two-day official visit to discuss the implementation of the India-UK free trade agreement (FTA) and ways to boost bilateral trade and investment."As the recent milestone UK-India Free Trade Agreement highlighted, there is a distinct economic commonality between the UK and India and a mutual desire to trade and invest more with one another," said Anuj Chande, Partner and Head of the South Asia Business Group at Grant findings of this year's 'India Meets Britain Tracker' stand testimony to the deep and historic relationship between these two great nations. It is evident that India continues to see the UK as a key investment hub, and a country in which Indian firms can flourish, he year's analysis showed that the combined revenues reported by Indian-owned companies in the UK increased to GBP 72.14 billion from GBP 68.09 billion in businesses employ 126,720 people across the UK and have added over 8,000 new jobs in the past 2025 Tracker companies achieved an average growth rate of 42 per cent and a combined turnover of GBP 32.6 billion. These firms also paid GBP 67.3 million in corporation tax and created more than 56,000 jobs."This year's India Meets Britain Tracker underlines just how engaged Indian businesses are with the UK as a key trading partner and investment hub," said IGF chairman Manoj Ladwa."As the UK and India enter a new era shaped by the free trade agreement, India Global Forum's UK-India Future Forum is becoming a vital modern platform, serving as a gateway to this next chapter of collaboration. It's encouraging to see Indian investment in the UK not only rising but thriving," he IT Services UK Societas tops the growth rankings in the 2025 Tracker, with a 448 per cent revenue surge, followed by a new entrant, IT management firm Zoho corporation Limited, which posted 197 per cent total, 20 companies joined the Tracker for the first time in 2025, while 41 companies stayed on the Tracker from last terms of location, London remains the destination of choice, with 47 per cent of all Tracker companies headquartered in the UK capital. The analysis also found an increase in the proportion of female directors to 24 per cent from last year's 21 per CII stated: "Coming at such a significant time in the ongoing development of the strong trade links between India and the UK, this year's report highlights the true value of the symbiotic impact of Indian foreign direct investment in the UK."The recent announcement of the conclusion of the Free Trade Agreement negotiations will turbo-charge this relationship further and lead us into a golden era of India-UK trade, which we can all look forward to."
Mint
14 hours ago
- Business
- Mint
Indian firms proliferate in UK as trade ties deepen
New Delhi: The number of Indian-owned companies in the UK has touched a record high—a sign of growing investor confidence following the conclusion of talks on the India–UK free trade agreement (FTA). A total of 1,197 Indian companies are currently active in the UK, up more than 23% from 971 firms recorded in 2024, according to the latest edition of the 'India Meets Britain Tracker'. This is the highest number since the tracker began monitoring company presence in 2017 and represents the steepest year-on-year increase. The report does not mention the number of companies operating in 2017. The sharp rise comes as the two countries prepare to usher in a new phase of economic cooperation under a comprehensive trade deal. Union commerce minister Piyush Goyal is currently in the UK, where he held discussions with his opposite number Jonathan Reynolds. Goyal also participated in the plenary session of the India Global Forum and launched the tracker report, signalling stronger policy and business alignment in the run-up to the FTA's implementation. The tracker—a joint research initiative by Grant Thornton and the Confederation of Indian Industry (CII), with new support this year from India Global Forum—identifies the fastest-growing Indian firms in the UK, top employers and sectoral shifts, while mapping their performance and regional spread. This year's edition comes just over a month after the India–UK FTA was finalized, a deal expected to significantly boost bilateral trade and accelerate investments from both sides. Indian businesses in the UK reported a combined revenue of £72.14 billion in 2025, compared with £68.09 billion in the previous year, as per the report. These companies employ 126,720 people across the UK and generated over 8,000 new jobs in the past year. The share of women on company boards has risen to 24% from 21% in 2024. 'This surge in Indian business activity in the UK reflects the evolving economic convergence between the two nations. With the FTA in place, Indian companies are set to gain even greater market access and operational certainty,' an Indian government official said when asked to comment on the report. Notably, this year's tracker identifies 74 companies that recorded revenue growth of over 10%, with an average growth rate of 42% and a combined revenue of £32.6 billion. These high-growth firms paid £67.3 million in corporation tax. This year, 14 Indian-owned businesses in the UK each employed over 1,000 people, up from 11 such companies last year. Together, these firms account for 88,693 jobs—around 70% of the total workforce employed by Indian companies in the UK. Of these, eight companies reported an increase in their workforce, while six saw a decline. Airtel Africa Plc recorded the highest employee growth over the past year, with a 23% rise in staff, followed by Essar Oil (UK) Ltd, which saw a 20% increase. Notably, Essar Oil (UK) and Barnagore Jute Factory Plc made their debut on this year's list of top Indian employers in the UK. Essar's entry is attributed to its major investments in decarbonization projects that align with the UK's energy transition goals and have contributed to new job creation. IT major Wipro's UK subsidiary led the rankings with a staggering 448% growth, followed by corporate tech services firm Zoho Corporation Ltd, which posted 197% growth. Twenty firms debuted in the tracker this year, while 41 from last year retained their positions. London remains the hub for Indian investment in the UK, hosting 47% of tracker firms, followed by South England (24.3%). The technology, media, and telecom (TMT) sector continues to dominate, accounting for 31% of all companies on the list, while pharmaceuticals and chemicals account for 22%. Financial services, now comprising 9.5% of firms, have seen notable growth amid the strategic expansion of Indian banks and financial institutions in London. Anuj Chande, Partner and Head of the South Asia Business Group at Grant Thornton, said the tracker reflects the strong and growing bilateral synergy. 'It is evident that India continues to see the UK as a key investment hub. As the recent milestone UK–India free trade agreement highlighted, there is a distinct economic commonality and a mutual desire to trade and invest more with one another.' The UK government estimates the FTA will boost annual bilateral trade by £25.5 billion by 2040, giving UK firms enhanced access to India's fast-growing economy and a consumer base of over 300 million middle-class citizens. India Global Forum founder and CEO Manoj Ladwa said that Indian reforms over the last decade have enabled companies to look outward with greater ambition. 'As the UK and India enter a new era shaped by the free trade agreement, India Global Forum's UK–India Future Forum is becoming a vital modern platform to facilitate this next chapter of collaboration.' The FTA, which eliminates or reduces duties on a broad range of goods and services and eases regulatory hurdles, is expected to come into force later this year. Indian negotiators see it as a model agreement balancing traditional trade concerns with new-age economic priorities, particularly in digital trade and services. India's exports to the UK stood at $14.55 billion in FY25, while imports were valued at $8.61 billion. In FY24, exports were $12.98 billion and imports amounted to $8.41 billion. Trade between the two countries rose to $23.16 billion in FY25, up from $21.39 billion in FY24, as per the commerce ministry data.
Business Standard
14 hours ago
- Business
- Business Standard
India's Growing Footprint in the UK Hits Record High: New Tracker Launched by Minister Piyush Goyal at IGF London
PRNewswire New Delhi [India]/ London [UK], June 19: The 12th edition of the Grant Thornton India Meets Britain Tracker was officially launched today by Indian Commerce Minister Piyush Goyal, during a special opening session at IGF London at the Queen Elizabeth II Centre. This year's edition arrives at a pivotal moment, closely following the finalisation of the UK-India Free Trade Agreement and marks a record-breaking year for Indian business presence in the UK. Produced by Grant Thornton in collaboration with India Global Forum and Confederation of Indian Industry, the 2025 report provides the most comprehensive snapshot of Indian investment in the UK. IGF's deep-rooted influence, experience, and convening power in the UK-India corridor further enhance the strategic value of this research. Manoj Ladwa, Founder and Chairman of IGF, said: "This year's tracker is a powerful testament to the vitality of the UK-India economic relationship. As the first major platform following the conclusion of the FTA, IGF London provides the ideal stage to spotlight how Indian businesses are scaling in the UK. The rise in Indian-owned companies isn't just growth, it's momentum. It reflects the ambition and trust shaping this new chapter of bilateral collaboration." The 2025 Tracker identifies 1,197 Indian-owned companies operating in the UK, a 23% increase from last year's 971. This marks the highest figure on record and the largest annual increase since total numbers were first measured in 2017. These companies collectively reinforce the economic significance of the bilateral corridor, as the newly signed FTA is forecast to contribute an estimated £4.8 billion to UK GDP and £2.2 billion in wage growth annually. The report reveals the Technology, Media, and Telecom sector as the largest and fastest-growing vertical, representing 31% of all tracker companies. Pharmaceuticals and chemicals hold strong in second place, accounting for 22% of growth tracker companies. Financial services saw a notable rise, making up 10% of Tracker companies, the largest share since 2021. Geographically, London remains the top choice, hosting 47% of the 74 fastest-growing companies. The South of England follows at 24.3%, while the Midlands and North contribute 9.5% each. Anuj Chande, Partner and Head of the South Asia Business Group at Grant Thornton UK Advisory & Tax LLP, commented: "We are thrilled to witness such a significant surge in Indian-owned businesses in the UK. This reflects the confidence Indian investors place in the UK market, as well as the opportunities being unlocked by deeper bilateral engagement. The FTA's conclusion promises to supercharge this momentum, and this report offers a clear view of where that growth is taking shape. Our collaboration with India Global Forum has further strengthened the Tracker's reach and relevance at a pivotal moment in UK-India relations." The Tracker stands as a critical barometer of bilateral economic health and a strategic tool for policymakers, investors, and businesses on both sides. As the UK-India relationship enters a new era, IGF London 2025 underscores how partnership on paper is now being translated into impact on the ground. The announcement was the highlight of Day 1 of IGF's flagship event in the United Kingdom. With over 100+ speakers, 1000 participants, and events across iconic venues in London, IGF London 2025 encompasses a spectrum of topics - from technology and trade to culture and commerce. This year's edition marks a powerful milestone - a decade since Prime Minister Narendra Modi's landmark 2015 visit to the UK, and the two nations have finalised the long-awaited Free Trade Agreement. IGF London is the first major international platform to celebrate and analyse this historic achievement, unlock new opportunities that emerge from its conclusion, and shape the next phase of UK-India collaboration. About India Global Forum India Global Forum tells the story of contemporary India. The pace of change and growth India has set itself is an opportunity for the world. IGF is the gateway for businesses and nations to help seize that opportunity. To know more, click here. Social Media Handles & Hashtag to Follow Twitter: @IGFUpdates & @manojladwa LinkedIn: India Global Forum #IGFLondon
The Wire
15 hours ago
- Business
- The Wire
India's Growing Footprint in the UK Hits Record High: New Tracker Launched by Minister Piyush Goyal at IGF London
Grant Thornton's India Meets Britain Tracker reveals 23% year-on-year surge in Indian-owned UK businesses amid historic Free Trade Agreement milestone NEW DELHI and LONDON, June 19, 2025 /PRNewswire/ -- The 12th edition of the Grant Thornton India Meets Britain Tracker was officially launched today by Indian Commerce Minister Piyush Goyal, during a special opening session at IGF London at the Queen Elizabeth II Centre. This year's edition arrives at a pivotal moment, closely following the finalisation of the UK–India Free Trade Agreement and marks a record-breaking year for Indian business presence in the UK. Produced by Grant Thornton in collaboration with India Global Forum and Confederation of Indian Industry, the 2025 report provides the most comprehensive snapshot of Indian investment in the UK. IGF's deep-rooted influence, experience, and convening power in the UK–India corridor further enhance the strategic value of this research. Manoj Ladwa, Founder and Chairman of IGF, said: "This year's tracker is a powerful testament to the vitality of the UK–India economic relationship. As the first major platform following the conclusion of the FTA, IGF London provides the ideal stage to spotlight how Indian businesses are scaling in the UK. The rise in Indian-owned companies isn't just growth, it's momentum. It reflects the ambition and trust shaping this new chapter of bilateral collaboration." The 2025 Tracker identifies 1,197 Indian-owned companies operating in the UK, a 23% increase from last year's 971. This marks the highest figure on record and the largest annual increase since total numbers were first measured in 2017. These companies collectively reinforce the economic significance of the bilateral corridor, as the newly signed FTA is forecast to contribute an estimated £4.8 billion to UK GDP and £2.2 billion in wage growth annually. The report reveals the Technology, Media, and Telecom sector as the largest and fastest-growing vertical, representing 31% of all tracker companies. Pharmaceuticals and chemicals hold strong in second place, accounting for 22% of growth tracker companies. Financial services saw a notable rise, making up 10% of Tracker companies, the largest share since 2021. Geographically, London remains the top choice, hosting 47% of the 74 fastest-growing companies. The South of England follows at 24.3%, while the Midlands and North contribute 9.5% each. Anuj Chande, Partner and Head of the South Asia Business Group at Grant Thornton UK Advisory & Tax LLP, commented: "We are thrilled to witness such a significant surge in Indian-owned businesses in the UK. This reflects the confidence Indian investors place in the UK market, as well as the opportunities being unlocked by deeper bilateral engagement. The FTA's conclusion promises to supercharge this momentum, and this report offers a clear view of where that growth is taking shape. Our collaboration with India Global Forum has further strengthened the Tracker's reach and relevance at a pivotal moment in UK–India relations." The Tracker stands as a critical barometer of bilateral economic health and a strategic tool for policymakers, investors, and businesses on both sides. As the UK–India relationship enters a new era, IGF London 2025 underscores how partnership on paper is now being translated into impact on the ground. The announcement was the highlight of Day 1 of IGF's flagship event in the United Kingdom. With over 100 speakers, 1000 participants, and events across iconic venues in London, IGF London 2025 encompasses a spectrum of topics - from technology and trade to culture and commerce. This year's edition marks a powerful milestone - a decade since Prime Minister Narendra Modi's landmark 2015 visit to the UK, and the two nations have finalised the long-awaited Free Trade Agreement. IGF London is the first major international platform to celebrate and analyse this historic achievement, unlock new opportunities that emerge from its conclusion, and shape the next phase of UK-India collaboration. About India Global Forum India Global Forum tells the story of contemporary India. The pace of change and growth India has set itself is an opportunity for the world. IGF is the gateway for businesses and nations to help seize that opportunity. To know more, click here. Social Media Handles & Hashtag to Follow Twitter: @IGFUpdates & @manojladwa LinkedIn: India Global Forum #IGFLondon Photo: Logo: (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). This is an auto-published feed from PTI with no editorial input from The Wire.
Business Standard
7 days ago
- Business
- Business Standard
Indian Investment into UK At an All Time High
PRNewswire New Delhi [India] / London [UK], June 13: At a pivotal moment for the UK-India economic corridor, following the signing of the Free Trade Agreement, Grant Thornton, in collaboration with India Global Forum and Confederation of Indian Industry, will launch the latest edition of the India Meets Britain Tracker at IGF London on 18th June. This highly anticipated report will deliver a powerful, data-led narrative of how Indian companies are reshaping the UK economy. * Grant Thornton's India Meets Britain Tracker 2025 to be unveiled at IGF London on 18 June. The report will be officially launched during a special session at the Queen Elizabeth II Centre, as part of IGF London's flagship programme. With the UK and India ranking as the 6th and 4th largest economies respectively, this report offers an incisive look at one of the world's most strategic investment corridors. The launch is a cornerstone moment and further builds on IGF's ongoing efforts through the UK-India Future Forum to accelerate high-value collaborations and economic synergies between the two nations. By combining on-the-ground insights with granular data analysis, the report offers a roadmap for deeper engagement and evidence-based policymaking in the UK-India corridor. Manoj Ladwa, Founder and Chairman of India Global Forum, said: "Indian businesses are no longer just investing abroad - they are transforming global economies. Our collaboration with Grant Thornton provides a powerful lens into this evolution and reinforces IGF's mission to shape and support the UK-India economic partnership with data, dialogue and delivery." Anuj Chande, Partner and Head of South Asia Business Group at Grant Thornton, added: "Indian companies continue to play a pivotal role in the UK's growth story--from job creation to innovation. This year's tracker showcases their growing diversification, scale and resilience, and reflects the growing maturity and confidence of Indian enterprise on the global stage." The official report launch will bring together senior business leaders, policymakers, and government representatives from both countries, underscoring the strategic significance of Indian investment in shaping the UK's future economy. About India Global Forum India Global Forum tells the story of contemporary India. The pace of change and growth India has set itself is an opportunity for the world. IGF is the gateway for businesses and nations to help seize that opportunity. To know more, click here
