New Indian investment deals worth over £100 million demonstrate investors' confidence in the UK.
UK welcomes latest Indian investments, demonstrating investors' confidence in doing business
New deals will create jobs as the government continues to focus on delivering economic growth under the Plan for Change
Recent Indian budget drives more opportunity for UK insurance companies to expand presence in India
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 Jonathan Reynolds 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 Poppy Gustafsson 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 Jonathan Reynolds 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
FDI project numbers are sourced from DBT inward investment results 2023/24
FDI stock values are sourced from ONS foreign direct investment involving UK companies 2023
