BRITAIN is investing more in India than any other country in the G20, according to a new report out today from the Confederation of British Industry (CBI).
The CBI, with PwC and the UK India Business Council, found that in the past five years, the UK had invested $22.2bn (£14.5bn) in India, making up nine per cent of all foreign direct investment (FDI) in the country. No other G20 country – including the United States – made more investments in the country.
The report also found that the UK created more jobs in India than any other G20 nation, with direct investments supporting more than 137,000 jobs in the country.
Commenting on the findings, CBI deputy director-general Katja Hall said: “The economic relationship between India and the United Kingdom is in fine fettle.”
She added: “Prime Minister Modi’s steps to improve the ease of doing business in India are a great boost, and we look forward to the EU-India Free Trade Agreement talks resuming.”