According to Grant Thornton’s India Meets Britain Tracker 2024, the number of Indian-owned companies in the UK has reached 971, marking a 23% annual increase (up from 954 last year). These firms:
- Employ 118,430 people (up from 105,931)
- Generate a combined turnover of £68.09 billion, up from £50.5 billion
- Pay £1.17 billion in UK corporation tax, compared to £944 million last year
🌱 6 Major Highlights
- Explosive Revenue Growth
Among the 971 companies, 100 firms achieved double-digit growth, posting an average annual revenue increase of 48%, while overall revenue grew by around 24% - Job Creation on the Rise
These companies collectively boosted UK employment by 12,500 jobs in a year, reinforcing their economic relevance . - Sectoral Momentum
Leading sectors include tech, media & telecom (27%), manufacturing & engineering (20%), and pharma & chemicals (16%), showing diverse impact - London as the Epicenter
Over half of the fastest-growing Indian firms are London-based, followed by the South (18%) and the North (16%) - FDI Momentum
In 2023 alone, 118 FDI projects from India injected new investments, creating 8,384 UK jobs—making India the second-largest FDI source after the US theprint.in. - Trade Deal Catalyst
With UK–India FTA talks resuming and total bilateral trade at £41 billion, trade dynamics are poised for expansion
🌍 Strategic Implications
- Economic Resilience: Indian firms demonstrated impressive growth despite global slowdowns
- Policy Leverage: An FTA could further deepen investment and collaboration.
- UK-India Alignment: The rise in Indian-owned businesses strengthens economic, political, and cultural ties
✅ Final Takeaway
The 23% surge in Indian-owned businesses in the UK underscores a powerful economic bond—creating jobs, revenues, and innovation across sectors. With supportive trade policies and strategic investment, this trend is expected to strengthen further, shaping the future of bilateral growth.
