ID :
64438
Sat, 06/06/2009 - 15:41
Auther :
Shortlink :
https://www.oananews.org//node/64438
The shortlink copeid
India among top UK investors; Mumbai, Bangalore global hubs
Prasun Sonwalkar
London, June 5 (PTI) Despite recession, India emerged as
the second largest investor in the UK in 2008, after the US,
according to a new study that sees Mumbai and Bangalore as the
next top centres of global investment.
According to the annual survey by accountants Ernst &
Young, Indian companies accounted for 49 projects in the UK
during the year, which was ahead of traditional investors such
as France and Germany. The US accounted for 263 projects.
The survey reveals that London remains Europe's top
destination for foreign investment, accounting for 262 of the
686 new projects in the UK. But overall, the year saw foreign
investment in London fall by 13 per cent over the last year.
Marc Lhermitte, Partner at Ernst & Young and author of
the report said, "The primacy of long-established centres in
the developed world, including Europe's capitals, is being
challenged by emerging Asian cities such as Shanghai and
Bangalore and by regional cities acquiring international
expertise.
"When business leaders from our study were asked where
the next Google or Microsoft will emerge, Shanghai and Mumbai
were seen as the more credible alternatives than New York and
Silicon Valley, or London."
Ernst & Young's study analyses both actual inward
investment over the last 12 months and attitudes of global
investors on their plans over the short to medium terms.
Retaining its ranking as the most attractive European
location for FDI, the UK attracted 686 investment projects in
2008, 4 per cent less than in 2007. The 686 investments
created 20, 000 jobs, ranking the UK as the number one
location for FDI job creation in Europe.
Lhermitte added, "The BRIC regions (Brazil, Russia,
India, China) are not providing the absolutely safe ground
international investors are looking for. Europe is seen as
predictable and safe."
"Investors are showing greater loyalty to their countries
of origin and historical markets, launching fewer projects in
Emerging Europe. And that's why, for the moment, at least
they’d sooner stay at home than venture abroad." PTI PS
JVN
NNNN
London, June 5 (PTI) Despite recession, India emerged as
the second largest investor in the UK in 2008, after the US,
according to a new study that sees Mumbai and Bangalore as the
next top centres of global investment.
According to the annual survey by accountants Ernst &
Young, Indian companies accounted for 49 projects in the UK
during the year, which was ahead of traditional investors such
as France and Germany. The US accounted for 263 projects.
The survey reveals that London remains Europe's top
destination for foreign investment, accounting for 262 of the
686 new projects in the UK. But overall, the year saw foreign
investment in London fall by 13 per cent over the last year.
Marc Lhermitte, Partner at Ernst & Young and author of
the report said, "The primacy of long-established centres in
the developed world, including Europe's capitals, is being
challenged by emerging Asian cities such as Shanghai and
Bangalore and by regional cities acquiring international
expertise.
"When business leaders from our study were asked where
the next Google or Microsoft will emerge, Shanghai and Mumbai
were seen as the more credible alternatives than New York and
Silicon Valley, or London."
Ernst & Young's study analyses both actual inward
investment over the last 12 months and attitudes of global
investors on their plans over the short to medium terms.
Retaining its ranking as the most attractive European
location for FDI, the UK attracted 686 investment projects in
2008, 4 per cent less than in 2007. The 686 investments
created 20, 000 jobs, ranking the UK as the number one
location for FDI job creation in Europe.
Lhermitte added, "The BRIC regions (Brazil, Russia,
India, China) are not providing the absolutely safe ground
international investors are looking for. Europe is seen as
predictable and safe."
"Investors are showing greater loyalty to their countries
of origin and historical markets, launching fewer projects in
Emerging Europe. And that's why, for the moment, at least
they’d sooner stay at home than venture abroad." PTI PS
JVN
NNNN
