India: 3rd Largest Employment Creator for UK
India shines as UK’s 3rd Largest Employment Creator In 2014 – siliconindia.com
The optimistic job scenario in India is not limited within the country alone. According to a siliconindia.com report, India has now become the third biggest job initiator of 2014 as the country witnessed a 65 percent growth in Foreign Direct Investments (FDI). India played a massive role in creating 9,350 jobs in UK last year which falls second to U.S. (36,778 jobs) and Germany (9,727 jobs).
UK Trade Investment Agency disclosed the data which revealed that India had created 7,730 new jobs while safeguarding 1,620 old jobs between 2014 and 2015. On the other hand, European countries such as Spain had created 3,646 jobs, Italy 2,193, Switzerland 1,489, Sweden 1,382, Norway 440 and Denmark 2,015, reports TOI.
“The scale of foreign investment is a huge success story which shows that Britain is the place to do business. This is a proof that our long term economic plan is working,” said UK PM David Cameron.The project growth was recorded the highest from India with a 65 percent, last from 122 projects placing it the third largest source of FDI. It has also topped as the largest source of FDI from an Asian country.
“Our increased focus on emerging markets in recent years is starting to pay off. India has become the third largest source market for FDI projects and more than 500 job opportunities have been generated through a new, private-sector led delivery model in other emerging markets,” said Michael Boyd, managing director of UK Trade & Investment (UKTI).
According to new research by Grant Thornton, a UK auditor, UK companies owned by an Indian parent employ more than 100,000 people in total. A dozen of the companies employ more than 1,000 people each.
The 41 fastest growing companies in that list are growing more than 10 per cent year-on-year in terms of turnover, with 26 expanding at a rate of more than 20 per cent annually, including Infosys subsidiary Lodestone, Essar Energy, Tata Communications and Tata Consultancy Services subsidiary Diligenta.
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