Indian FDI in UK created 4,858 new jobs: Report

India ranks third after the US and Germany in foreign direct investment (FDI) stakes for the UK, creating 4,858 new jobs over the last year, latest UK government figures have revealed. The UK's Department for International Trade (DIT) found that the UK continues to attract more FDI projects than any other country in Europe, with India among its top three source countries for inward investment.

"The US continues to be the UK's number 1 source of foreign direct investment investing in 440 projects in the UK, with Germany in 2nd place and India in third place for the number of investments made," note the DIT figures released last week. The statistical analysis for 2018-19 reveals that while the US created 16,388 new jobs with its 440 projects, Germany created 7,741 new jobs with 109 projects. The number of Indian projects came a close third at 106, resulting in a job creation figure of 4,858 across the UK.

"Despite global economic headwinds and a competitive investment environment, the UK continues to be the number one destination for foreign direct investment in Europe, accumulating more FDI stock than Germany and France combined," said Dr. Liam Fox, the UK's Secretary of State for International Trade. "My department will continue to promote the strengths of the UK as a great inward investment destination, with an open, liberal economy, world-class talent, and business-friendly environment," he said.

In what will be seen as a much-needed Brexit-related boost, figures from 2018-19 show an increase in the number of FDI projects coming from a number of European Union (EU) countries including Ireland, Netherlands, Italy and France, where inward investment projects increased by 10.4 percent, 7.1 percent, 6.3 percent, and 4.3 percent, respectively. The software, life sciences and oil and gas industries all saw an increase in the number of jobs attracted into their sectors in Britain.

The DIT figures also show UK regions increasing their share of total UK FDI projects since the 2016-17. The Midlands Engine and Northern Powerhouse regions saw a 2.6 percentage point and 1.4 percentage point increase in their total share of UK projects.