INDIA SECOND BIGGEST INVESTOR IN UK AFTER US
Dec 6th, 2006 by shan
The Times of India Reports that
Indian investors are expected to contribute 33 million pounds (approx Rs 297 crore) to London’s economy in 2006-07, the foreign direct investment agency, Think London, revealed on Wednesday.
Indian capital accounted for 18 percent of foreign capital during the current year. Since 2005, 36 Indian companies have set up office in London, voted the top European city to locate a business this year.
Some of the biggest recent bids and acquisitions by Indian companies are Tata Group’s offer of 4.3 billion pounds for Corus, Tetley Tea bought by the Tata Group for 270 million pounds in 2000, Apeejay International’s takeover of Typhoo for 80 million pounds from Premier Foods, Tata take over of Tyco Global Network for 69 million pounds in November 2004 and Tata take over of Incat International, a British software company for 53 million pounds last year
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