India second largest investor in UK

London, Jun 5: India ranked the second largest investor in the UK in 2008 after the United States. A new study reveals that Mumbai and Bangalore as the next top centres of global investment.

According to the annual survey conducted by Ernst &Young reported that Indian companies accounted for 49 projects in the UK during the year, leaving behind the traditional investors such as France and Germany. While the US accounted for 263 projects.

Marc Lhermitte, partner at Ernst &Young said, "The primacy of long-established centres in the developed world, including Europe's capitals, is being challenged by emerging Asian cities such as Shanghai and Bangalore and by regional cities acquiring international expertise."

He also said, "When business leaders from our study were asked where the next Google or Microsoft will emerge, Shanghai and Mumbai were seen as the more credible alternatives than New York and Silicon Valley, or London."

OneIndia News