Over 600 delegates, international business leaders, and senior Ministers from the UK and India will participate in the largest ever India-UK Business Convention in New Delhi over the next three days. Organised by the UK India Business Council, with UK Trade and Investment, the British Business Groups, and UK Export Finance, the <g data-gr-id="21">India UK</g> Business Convention will take place between the 10th and 12th September and will celebrate the strength of the <g data-gr-id="22">India UK</g> trade relationship.
The Convention coincides with the release of three reports which illustrate the scale and nature of UK corporate investments in India, and the critical role collaborative India-UK innovation plays in the growth of the economies of both countries. The Sterling Assets India report, produced by the Confederation of British Industry, PwC UK, and the UK India Business Council found that between 2000 and 2015, the UK invested $22.2 billion into India — 9 per cent of all foreign direct investment (FDI) in the country.
This makes the UK the largest G20 investor, outpacing the USA and Japan, and substantially ahead of all other nations. The British Business in India Report, produced by the UK India Business Council, KPMG and <g data-gr-id="24">HSBC,</g> lists the 535 UK businesses incorporated in India — an increase of over 300 per cent since 2000.
The range of investors is expanding too. Pre-2000, engineering businesses alone constituted 50% of all UK companies in India. This century, ICT, education, and retail and lifestyle businesses have gained momentum.
The Innovation in the Economy Report, produced by the UK India Business Council, KPMG and Cambridge University’s Institute for Manufacturing shows that UK and Indian business are not just investing in each country — they are forming innovation-led collaborations.
Research is the fastest growing areas of bilateral collaboration, with the Governments investing £150 million in the last seven years.