Second section UK lures 60% of Indian investments in Europe

Our Bureau

Pune, Oct 30: Around 60 per cent of Indian investments in Europe goes to the UK. Nearly a 100 Indian infotech, communications and technology companies have set up business in the UK with India emerging as the top 10 investors there. British minister of state for e-commerce and competitiveness Douglas Alexander said Indian IT professionals accounted for 60 per cent of the 18,000 work permits given in the UK.

Mr Alexander said the September 11 attack and the subsequent events would in no way affect the business ties between the countries. It is business as usual between India and the UK and there were great opportunities in the UK for Indian IT companies. “UK is a preferred gateway into Europe for Indian companies and we want more of you to come over,” Alexander added.

Since the formation of the Indo-British partnership in 1993, a total 1,500 Indo-British JVs have been approved. The UK-India bilateral trade of goods and services was growing at 68 per cent and was to the tune of œ 4.9 billion in year 2000.

Mr Alexander announced that a British business group was being created in Pune.