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India third largest foreign investor in UK

Written by: Staff
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Kolkata, July 6 (UNI) Indian foreign investment to United Kingdom increased by a staggering 110 per cent in 2005-06, British High Commissioner to India Sir Michael Arthur said today.

During the 2005-06 financial year, the UK recorded a total of 76 investment projects from India creating 1449 jobs.

''With Indian businesses investing 1.02 billion pounds into the UK, India now ranks as the third largest foreign investor in the UK globally and the second largest from the Asia Pacific region,'' Sir Michael said.

''The last fiscal is yet another record breaker in terms of investment from India into UK, demonstrating that the UK continues to be the leading investment location in Europe for businesses from India,'' he said.

UK Trade and Investment deputy director India, Inward Investment, Mark Dolan said, ''The flow of Indian investment to the UK has turned from trickle in the late 90's to a flood with the breadth of the projects rapidly expanding.'' ''While ICT remains the dominant sector for investment, there was strong growth in investment in pharmaceuticals and engineering,'' he said.

UNI TJP PC/SRC MQA VV1154

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