A research has been conducted in London through which it has been found out that the companies that has been owned by the India diaspora consists of a combined revenue of 36.84 billion pounds and is also employing over 174,000 people and pay over 1 billion pounds in the Corporation Tax.
The data related to the 654 companies that are owned by the Indian diaspora in the United Kingdom with a turnover of at least 100,000 pounds have been analyzed by the ‘India in the UK: The Diaspora Effect’. the analyzation has led to the information that the companies that are owned by the Indian diaspora in the United Kingdom collectively invest around 2 billion pounds through the capital expenditure.
Grant Thornton UK jointly with the Indian High Commission in London and the Federation of Indian Chambers of Commerce and Industry (FICCI UK) has produced a report which has zeroed in on a select few of an estimated total of over 65,000 companies that are connected with the diaspora.
Ruchi Ghanashyam who is the Indian High Commissioner to the United Kingdom said that the report that has been provided by the Grant Thorton UK jointly with the Indian High Commission in London and the Federation of Indian Chambers of Commerce and Industry, does not claim to be an exhaustive record which states the full contribution that has been done by the UK business which is owned by the Indian diaspora. She has added saying that the report covers over 650 relatively large businesses that are owned by the Indian diaspora, which were looked at in a much more detailed manner.
Ruchi Ganshyam was also the catalyst behind the project that has begun last year in the month of March.
“Though this report looks only at the businesses with an annual turnover of more than 100,000 pounds, we hope that contributions of the many smaller enterprises will be added in future reports,” said the envoy and has dedicated the report to the strong Indian diaspora in the United Kingdom who are said to be around 1.5 million in number.
The report is said to be aiming to help in order to develop a better understanding of the contributions of businesses that are owned by the people of the Indian diaspora in the United Kingdom and it also builds on the insight that has been developed by the annual ‘India Meets Britain Tracker’ of the Grant Thornton. The Indian meets Britain tracker tracks the Indian companies that are fastest growing in the United Kingdom.
B&M Retail Limited with 26,496 is said to top the list which is then followed by Vedanta Resources Ltd with 25,083 jobs, Boparan Holdco Ltd with 21,949 jobs, Hinduja Automotive with 19,601 jobs and HC- One Ltd with 10,949 jobs, being in the top five.
