Silk, services, and single malts: What the UK-India FTA means for key sectors
Now in its twelfth year, our India meets Britain report spotlights the fastest-growing Indian-owned businesses in the UK, analyses the evolving relationship between the UK and India, and showcases the value Indian businesses are adding to the UK economy.
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A record year for Indian-owned businesses
Our 2025 research identified 1,197 Indian-owned companies operating in the UK, an increase of over 23% from last year’s 971. This is the highest number to date and the largest year-on-year increase since the Tracker began in 2014. Of these 1,197 companies, 74 companies achieved revenue growth of over 10%.
And buoyed by the announcement of a comprehensive Free Trade Agreement (FTA) between both countries in May 2025, trade investment ties and professional mobility are poised to significantly improve.
Key highlights
Discover the top-performing Indian-owned businesses in the UK – read the full report below:
Standout sectors and record-breaking regions
For over a decade, the technology, media, and telecoms (TMT) sector has consistently had the highest number of companies featured in the Tracker. This year the sector accounts for 31% of all companies, up from 27% last year.
London remains the preferred location for Tracker companies – 35 of the 74 companies are based in the capital and represent £1.9 billion of total revenues generated. The South follows with 24%, while the Midlands and the North each contribute 9.5%. Other regions, including the East (4%), Wales (2.7%), Northern Ireland (1.4%), and Scotland (1.4%), have a much smaller presence.
The next chapter of Indian investment in the UK
With real GDP rising by 1.1% in 2024 and projected growth of 1% in 2025, the UK continues to offer a stable, business-friendly environment. A strong legal framework, unmatched global connectivity, and government incentives – such as research and development tax credits, investment zones, and support from British Business Bank and UK Export Finance (UKEF) – make it an attractive destination for Indian investors.
Unsurprisingly, Indian businesses are deepening their footprint in the UK, maintaining their position as the country's second-largest foreign investor for five years running. In 2023, Indian companies invested £13.1 billion in the UK, up 28.5% from £10.2 billion in 2022. This momentum shows no signs of slowing. Thus far in 2025, Indian businesses have announced investment deals over £100 million, fuelling growth in artificial intelligence (AI), professional services, and textiles, a testament to their confidence in the UK market.
A signal of intent – the India-UK Free Trade Agreement
Announced on 6 May 2025, this ambitious agreement is expected to increase UK GDP by £4.8 billion and UK wages by £2.2 billion annually in the long run. Bilateral trade is also projected to grow by £25.5 billion annually.
Alongside the deal, both countries agreed to negotiate a Double Contributions Convention (DCC), which will come into force alongside the wider trade deal and encourages employee mobility between the two countries.
This landmark deal opens new doors for investment, innovation, and job creation. It offers a more stable, accessible, and growth-friendly environment for Indian companies, encouraging long-term strategic investment across industries and regions. As the India–UK partnership deepens, so does the potential for co-creating global value chains, cutting-edge technology, and sustainable prosperity.
Discover the top-performing Indian-owned businesses in the UK – read the full report below:
