IANS
14 July 2007
London, July 14 (IANS) Indian investment in Britain during 2006-07 created 5,130 jobs - the second largest number of new jobs created after the US, whose companies created 13,326 jobs during the year, figures with the Department of Trade and Industry reveal.
The US was the biggest overseas investor in Britain, with 540 projects, way ahead of second-placed France with 95. Indian companies set up 69 new projects during the year, the figures reveal.
Services, with the financial and IT sectors to the fore, accounted for over a third of the new jobs, with manufacturing, R&D and distribution following. The figures, published by UK Trade and Investment, demonstrate the increasing importance of India and China to the British economy.
Foreign Secretary David Miliband said: 'Established economies continue to be a very important source of FDI for the UK, yet increasingly we are seeing more investments and projects from the high growth economies.
'Over the next decade, our economy is expected to grow by roughly 25 percent, while China and India will triple the size of their economies and boast over 40 percent of world growth. These are compelling statistics which we ignore at our peril and underline the significant potential for targeted UK engagement in these markets.'
********