India emerges 2nd largest job creator in UK: British High Commissioner
02 September, New Delhi
India has emerged as the second largest job creator in the UK by creating 7,105 new jobs over the period, and retained its position as the third largest investor in Britain second time in a row providing 140 projects, said British High Commissioner, Sir Dominic Asquith.
The UK’s Department for International Trade (DIT), has released new inward investment results for the tax year 2015 to 2016 showing that a record number of inward investment projects by international companies has created the second highest number of new jobs since records began. India closely follows China (which includes Hong Kong) with 156 projects.
The USA remained the UK’s largest source of inward investment providing 570 projects. The previous year, there was a 65 per cent increase in FDI flow from India resulting in the creation of 7,730 jobs as well as protecting 1,620 more in 2014-15.
“With India we share a two way relationship of growth as the UK is also India’s largest G20 investor. We want to build on this strategic partnership during the upcoming India UK TECH Summit which will be the biggest ever celebration of the depth of India-UK partnerships in business, innovation, research, education and entrepreneurship,” he added.
The UK has retained its position as Europe’s top investment destination. The UK’s Department for International Trade (DIT), has released new inward investment results for the tax year 2015 to 2016 showing that a record number of inward investment projects by international companies has created the second highest number of new jobs since records began, said Liam Fox, Secretary of State for International Trade, UK.
Dr Fox who was on a three day visit to India said, “These impressive results show the UK continues to be the place to do business.”
“We’ve broadened our reach with emerging markets across the world to cement our position as the number one destination in Europe for investment. This continued vote of confidence in the UK will help attract foreign investment to create jobs, security and opportunities for people across the UK,” he added.
The UK recorded a total of 2,213 inward investment projects, up by 11 per cent on the previous year. This lead to around 116,000 jobs being created or safeguarded – the second highest number on record.