UK, 3rd largest investor in India

Indo-UK business ties are becoming a two-way affair with Indian companies contributing to the growth of the British industry, British High Commissioner to India Sir Michael Arthur said on Tuesday.

While there was significant reinvestment by the British companies like the Vesuvius group in India, "UK has also become one of the top investment choices for Indian businessmen," the High Commissioner said after opening a HSBC group service centre in Kolkata.

Stating that the UK was the third largest investor in India, he said, "Our share of investment approvals since 1990-91 comprising nearly 2,500 joint ventures is about 10 per cent, well ahead of countries like Germany, Japan and France."

In the UK, he said, "Last year, we welcomed 36 new Indian projects. Some of these were companies based in West Bengal."

The High Commissioner also pointed out the contribution of DFID in helping the state spruce up its social infrastructure like the recent healthcare system development initiative inaugurated by Chief Minister Buddhadev Bhattacharjee.