UK sees record 23% surge in number of Indian-owned bizs, revenue hits GBP 72.14 bn

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 analysis.

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).

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 analysis.

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 Thornton.

The 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 said.

This 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 2024.

These businesses employ 126,720 people across the UK and have added over 8,000 new jobs in the past year.

The 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 said.

Wipro 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 growth. In total, 20 companies joined the Tracker for the first time in 2025, while 41 companies stayed on the Tracker from last year. In 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 cent.

The 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.”