Indian entrepreneurs help UK fight unemployment
More than 50% of India's investment in Europe goes to the UK. Just as unemployment takes root this support to the british economy cannot be underestimated. The country's unempoyment peaked at almost 2.7 million at the end of 2011,it's highest level for 17 years. The latest unemployment rate is 7.8%. This improvement is tied with the higher numbers of people working part-time because they cannot find a full-time job. India is the 5th largest investor in the UK. Over the five past years nearly a hundred investment projects generated more than 20.000 jobs. More than 700 indian companies have already chosen to locate businesses in the country. Amongst the top sectors, they invested in the information technology,pharmaceuticals,financial services and the automotive industry. Tata group alone invested more than £1.5 billion for the acquisition of Jaguar/ Land Rover that secured at the time 14.000 jobs. We can also mention in the IT sector HCL technologies based in Uttar Pradesh,Wipro based in Karnataka which is a major company in the field of infrastructure engineering, Genser Aerospace etc... all expanding rapidly in the UK. Considering the special link between India and the UK we can expect that this investment wave is only at its beginning.
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