The agreements between India and UK strengthen the UK’s position in sectors including insurance services, finance, healthcare and energy.
The visit highlights the strong bilateral relationship between the UK and India and further strengthens ties between the two countries.
India invests more in the UK than the rest of the European Union combined. In 2014-15 India emerged as Britain’s third biggest job creator, creating 7,730 new jobs, with investments from India increasing by 65% making it the third largest source of FDI (projects).
The Indian economy is predicted to grow at 7.3 per cent this year, making it the fastest growing large economy in the world. Last year bilateral trade was worth nearly £20 billion. UK exports of goods increased by 3.4 per cent and of services by 9.8 per cent.
Prime Minister David Cameron said:
“As the largest G20 investor in India, British businesses already support nearly 700,000 jobs in India and India invests more in the UK than in the rest of the EU combined creating almost 8000 new jobs here last year.
“During this visit, British and Indian companies are announcing new collaborations, together worth more than £9 billion.”
