British companies are driving growth and sustainability in India, generating over Rs 5 trillion in revenue: reportBritish companies play a major role in India’s economic development, with 667 British-owned companies contributing Rs 5,082 billion in revenues and employing over 523,000 people, according to the latest Britain Meets India 2024 report, released by Grant Thornton Bharat in partnership with the Confederation of Indian Industry (CII).
The report shows the growing footprint of British companies in India. It identifies the top 162 performing companies with exclusive growth criteria, which collectively exceed Rs 500 million in annual revenue and achieve at least 10 percent year-on-year growth.
Sectors such as education, technology and infrastructure are seeing notable UK investment, supporting India’s long-term economic and sustainability goals.
Pallavi Bakhru, Partner and Head of the India-UK Corridor at Grant Thornton Bharat, said: “With the India-UK Free Trade Agreement on the horizon, we expect significant growth opportunities for UK businesses in India. Our Britain Meets India tracker shows this is not the case. just this potential, but also the valuable role British companies are playing in supporting India’s net zero targets by 2070, particularly through expertise in renewable energy and climate finance.
Growth Tracker companies experienced an average growth rate of 71 percent, up from 46 percent in 2023, demonstrating their increasing influence. The business services sector led the expansion, reflecting India’s skilled workforce and growing consumer market.
Maharashtra emerged as a major hub, hosting 36 percent of UK businesses, while Delhi NCR, Karnataka and Tamil Nadu are also popular regions for UK investment. Nearly 63 percent of British businesses in India are made up of MSMEs (micro, small and medium enterprises), with the business services, industrial products, media, telecoms and technology sectors among the biggest contributors.
The report underlines the crucial role of UK companies in India’s renewable energy sector. British International Investment (BII) has committed $2.2 billion to India and plans a further $1 billion for climate projects by 2026, while Lightsource BP invested GBP 2 billion in Indian solar initiatives.
Britain and India’s technology and telecoms partnerships are growing, with recent initiatives such as the Technology Security Initiative boosting joint research into Open RAN systems and 6G development, advancing telecoms security and infrastructure .
Fifteen British companies in India achieved triple-digit sales growth this year. Vedanta Ltd. is the largest UK company by turnover, generating over INR 1,501 billion by 2024.
Harjinder Kang, His Majesty’s Trade Commissioner for South Asia, said: “The relationship between Britain and India is a shining example of a thriving partnership, with trade and investment worth £42 billion and over 700,000 million jobs in both economies.”
He added: “Looking to the future, the growth potential is enormous, with India expected to have the third largest economy by 2030 and a growing middle class that will drive consumer spending. We are ready for a once-in-a-lifetime event. A generational revolution in sectors such as net zero, AI, healthcare and life sciences – and together Britain and India can lead the way.”
