The article first appeared in Hindustan Times on August 12, 2024.
Indian companies have steadily increased their ownership and influence over British businesses in recent decades, reflecting the strengthening of economic ties between the two nations. Notable acquisitions and investments showcase India’s growing presence in key British industries, from automotive to technology.
One significant development is Bharti Enterprises’ recent announcement to acquire a 24.5% stake in British telecommunications giant BT for £3.2 billion. This deal highlights Indian conglomerates’ interest in major UK companies and marks another milestone in their global expansion. Bharti’s move positions it as a key player in the UK telecom sector.
In the automotive industry, Tata Motors, part of the Tata Group, has been at the forefront of Indian ownership in the UK. It owns the iconic Jaguar Land Rover (JLR), a symbol of British engineering excellence. Tata Steel also maintains a strong presence in Britain, operating major plants, including the Port Talbot facility, which contributes significantly to the UK’s steel production.
Indian firms have also made notable strides in the technology and renewable energy sectors. Reliance New Energy Solar Ltd acquired Faradion Ltd, a leading British battery technology company, for $135 million in 2021, bolstering India’s capabilities in clean energy storage. Similarly, Indian IT giant Wipro purchased UK-based consultancy firm Capco in 2022 for $1.45 billion, further cementing India’s influence in the global IT services industry.
The motorcycle industry has also seen Indian dominance. Eicher Motors acquired Royal Enfield, the world’s oldest motorcycle brand in continuous production, originally founded in Worcestershire in 1901. Mahindra & Mahindra revitalized the legendary BSA Motorcycles in 2021, bringing it back into production after a nearly 50-year hiatus. TVS Motor Co acquired the iconic British brand Norton in 2020 and also secured a 70% stake in EBCO Ltd, a company producing electric bikes in Britain.
Additionally, Indian investors have contributed to the UK’s digital banking sector. Wadhawan Global Capital was a lead investor in Zopa, a pioneering British digital bank, during its £32 million fundraising in 2017.
Despite these accomplishments, Indian investors are less prominent in the UK’s financial services sector. Research by Grant Thornton revealed 971 Indian-owned companies in the UK in 2024, up from 954 in 2023, with only 6% operating in financial services. These figures underscore India’s focus on manufacturing, technology, and renewable energy in its UK investments, reflecting its strategic priorities on the global stage…
Read More: Hindustan Times
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