India second-biggest source of new investment into London
BRITAIN: India has become the second-biggest source of new foreign
investment into London, behind only the United States, a report released
on Friday said.
According to the Financial Times, a new report from Think London, the
capital’s foreign direct investment (FDI) agency, says that India has
accounted for 16 percent of all new foreign investment into London
between 2003 and 2007.
That has helped investment into London jump to 52 billion pounds
(76.1 billion euros, 103.4 billion dollars), from 38 billion pounds two
years ago.
The United States topped the list, with 31 percent of new investment,
while France was third with seven percent.
China, Japan and Canada with six percent each followed.
“London does not have the same resonance in China, Russia or Brazil
as it does in India,” Think London’s chief executive Michael Charlton
noted. The United States still dominates total foreign investment into
the capital, though, accounting for about half of it, followed by France
with 12 percent.
Charlton warned against complacency, however, noting that “FDI
companies are continually re-evaluating their presence here ... More
than half review their global strategy every three to five years, and
thirteen percent do so every year.”
London, Friday, AFP |
