The tough immigration policies of the UK are already bearing unfavorable results. Overseas investment to the UK has now been reduced by India. India becomes the fourth largest overseas investor nation in the UK, slipping one position below from its earlier held third place. This has been confirmed by the latest revealed official statistics.
The US continues to hold the number one position for overseas investment with its funding of 577 projects in the UK. The second place for overseas investment was taken by China with its investment for 160 projects in the UK. This is inclusive of investment by Hong Kong.
The official figures have revealed that India’s overseas investment to the UK decreased. It has funded 127 fresh projects losing its third place to France that invested in 131 projects. Indian investment protected 7, 645 current jobs and created up to 3,999 fresh job opportunities in the fiscal year 2016-17.
India is now tied for the fourth place for overseas investment to the UK with New Zealand and Australia. Both these nations also invested in 127 fresh projects, the same number as invested by India, as quoted by the New Indian Express.
UK’s Minister for International Trade Dr. Liam Fox said that his department continues to promote benefits of overseas investment in the UK.
The UK government revealed that for the fiscal year 2016-17, around 75, 226 fresh jobs were created. Approximately 2,000 jobs were weekly protected across the UK amounting to 32, 672 jobs totally.
Currently, UK remains the top investment destination in the Europe, a position increasingly getting threatened due to Brexit. It has recently also been revealed that London is all set to lose its position of financial center in the EU.
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