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Indian investments of $125 M to create jobs in UK
The investments span sectors such as artificial intelligence, professional services, and textiles.
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Representative Image / Image- Unsplash
Indian companies have announced new investments exceeding $125 million (£100 million) in the United Kingdom, reinforcing confidence in the British economy and creating hundreds of jobs, the UK Department for Business and Trade said.
The investments, spanning sectors such as artificial intelligence, professional services, and textiles, come as the UK government focuses on economic growth under its Plan for Change.
UK Trade Secretary Jonathan Reynolds visited New Delhi this week as part of efforts to restart negotiations on a UK-India trade deal, aiming to expand opportunities for British businesses. Meanwhile, Investment Minister Poppy Gustafsson was in Bengaluru promoting the UK as a prime destination for foreign investment.
“These investment deals will deliver more than £100 million ($126.16 million) for the UK economy, creating jobs, strengthening growth, and helping working people," Reynolds said. "They prove that the government’s Plan for Change is giving Indian businesses the confidence they need to continue investing in Britain."
Among the key investments, Aaseya Technologies, a professional services company specializing in digital transformation, is expanding its presence in London with a $31.5 million (£25 million) investment, which is expected to generate up to 250 jobs over the next three years.
Sastra Robotics is investing $10 million (£8 million) in Manchester, marking the first time a robotics company from South India has invested in the UK. The expansion will create 75 jobs focused on robotics innovation.
In London, AI cybersecurity company Deepcytes has set up its global headquarters, investing $6.3 million (£5 million) and planning to create 80 jobs in the next three years, particularly in areas of anti-bullying and cyber fraud prevention. University Living, a global student housing platform, is also expanding its presence in the UK with a $12.6 million (£10 million) investment, which is set to generate 50 jobs.
Indian textile giant Jaipur Rugs has opened a store in London, with an investment of $6.3 million (£5 million) and plans to create 75 jobs. In the entertainment sector, Time Cinemas has chosen the UK for its global headquarters and is introducing The Black Box by Time, a cloud-based platform aimed at filmmakers and content creators. The expansion involves a $25 million (£20 million) investment and the creation of 75 jobs in London.
The technology sector has also seen significant Indian investments. Novigo Solutions, an IT services and consulting firm, has launched operations in Warwick with a $15 million (£12 million) investment, bringing 75 new jobs. Test Yantra, one of India’s largest testing and training services companies, is investing $12.6 million (£10 million) to establish operations in the UK, creating 100 jobs. Zoondia Software, a technology solutions provider specializing in AI, IoT, and data analytics, is also making a $12.6 million (£10 million) investment, which will add 60 jobs.
India has remained the second-largest investor in the UK by number of projects for five consecutive years, with Indian FDI stock increasing by 28 percent at the end of 2023.
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