India Meets Britain Tracker 2023

India Meets Britain Tracker 2023

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Since the 1950s, Indian investment in the UK has been present and shown signs of expansion. In 2014, the 'Grant Thornton India meets Britain Tracker' in collaboration with the Confederation of Indian Industry (CII) helped measure and monitor the Indian economic contribution to the UK.

In 2023, we are pleased to present the tenth edition of the Tracker, showcasing ten-year trends of investment and employment by Indian-owned businesses in the UK. The Tracker also highlights the fastest-growing Indian companies in the UK and provides valuable insights into the scale, business activities, locations, and performance of impactful Indian-owned companies operating in the UK.

Key highlights:

1. In the past decade, India and the UK have significantly strengthened ties, doubling bilateral trade from £16.4 billion in 2013 to £35.9 billion in 2022.
2. In the past decade, Indian companies in the UK have paid at least £4 billion in corporation tax.
3. The largest Indian employers in the UK have consistently employed over 100,000 people every year during the past decade.
4. The report identifies 954 Indian companies operating in the UK in 2023, an increase from 700 in 2014 and a new record.
5. These 954 Indian companies generated a combined revenue of £50.5 billion in 2023, compared to £19 billion in 2014.
6. For the past decade, technology, media and telecom, engineering and manufacturing, pharmaceuticals and chemicals have been dominant sectors in the Indian economy for generating business in the UK.