700 Indian-owned Companies in UK employ over 1L persons
Indian companies are playing an important role in the growth of the British economy and contributing to GDP and creating employment opportunities, according to Grant Thornton UK LLP's India Tracker 2014 report.
The report, which is prepared in collaboration with the Confederation of Indian Industry (CII), monitors UK registered businesses with ultimate Indian parent companies and identifies the fastest growing corporates by turnover and employment size.
It finds there are currently over 700 Indian-owned small to large-sized businesses in the UK, collectively employing over 100,000 individuals.
Of these, 41 organizations were identified as registering year-on-year growth rates of more than 10 per cent, with more than half (26 corporates) demonstrating particularly strong growth in excess of 20%.
These 'Top 41', the report suggests generated combined revenues of around 19 billion pounds.
Despite outliers, such as Tata Motors (accounting for more than 80% of the Top 41 group's total turnover), the group represents a broad range of large corporates (5), mid-sized corporates (17) and SMEs (19) across the UK.
Geographically, the Top 41 had operations spread across the UK, with 29% based in London, 32% based in the South, 29% in the North and 10% based in the Midlands.
The report also identifies 12 Indian corporates, each employing more than 1,000 people in the UK.