“On the trade side, we are not letting the grass grow under our feet and the UK and India are carrying on negotiations virtually given the current crisis,” she said, pointing towards the planned virtual India-UK Joint Economic and Trade Committee or JETCO summit organized this year.
India has invested in nearly 120 projects and has also created 5429 new opportunities to employ people in the United Kingdom. after all these years it has now become the second-largest source of foreign direct investment in the UK according to new UK Government figures that were made public on Friday.
The first position is still held by the United States. according to the department for international trade inward investment statistics for 2019 to 2020, India has moved up from the previous spot of the third-largest investor chunav reach the second spot with new 1852 investment projects in one year.
The United States still occupies the first position of FDI for the United Kingdom by giving out 462 projects and nearly 20,130 employment opportunities. India is followed by Germany, France and China, and Hong Kong on the list. 72 projects received from Australia and New Zealand and 134 from the Nordic and Baltic regions.
India now offers 120 projects with 5429 jobs this year as against 106 projects and job creation figures of 4858 last year.
All England regions, Northern Ireland and Wales witnessed a rise in the number of projects attracted by each nation across the globe while only Scotland so A drop in the number of projects as against the last year data recorded by the responsible organizations.
UK International Trade Secretary Liz Truss at the time of addressing the annual India Global Week 2020 virtual summit on Friday said that the from the time COVID-19 crisis and forthcoming uncertainty has hit the country, United Kingdom has been working with India in order to make sure that supply chains keep open and keeping trading routes alive, and as both the nations emerge from the turbulence, it is extremely important to ensure that the nations don’t move towards protectionism.
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