According to the Inward Investment Statistics for 2020-21 released by the Department for International Trade (DIT), the Government of the United Kingdom (UK) – India retained its position as the 2nd largest source of Foreign Direct Investment (FDI) for the UK in 2020. The United States (US) took the top spot.
- Indian companies have invested in 99 projects and created 4, 830 jobs in the UK.
- Foreign investment has created 55, 319 new jobs across the UK in 2020.
- The US, which is the top source of FDI for the UK, has invested in 389 projects and created 19, 301 new jobs in 2020-21, which is low compared to 2019 (462 projects & 20, 131 jobs).
Key Points
i.Challenges like COVID-19 & post-Brexit have caused the decline in the number of projects and jobs created in the UK compared to 2019.
ii.Sectors which contributed most to job creation are Food and drink, creative and media, environment, infrastructure and transportation, as well as biotechnology and pharmaceuticals.
iii.The United Nations Conference on Trade and Development (UNCTAD) in its recent analysis stated that UK’s FDI inflows increased to USD 2.2 trillion in 2020 (from USD 2.1 trillion in 2019), which is the 2nd highest in the world after the US.
Recent Related News:
February 18, 2021, In accordance with the 7th edition of Grant Thornton Bharat’s Britain Meets India report, the FDI inflow from UK to India has increased from $898 million in 2015- 16 to $1,422 million in 2019-20.
About United Kingdom
Prime Minister – Boris Johnson
Capital – London
Currency – British Pound Sterling (GBP)
