Business

London Unveils GBP 27 Billion Growth Plan, India Leads In FDI

London has launched an ambitious Growth Plan to generate GBP 27 billion in additional tax revenue. The plan aims to boost public services across the UK. Mayor Sadiq Khan unveiled the initiative alongside London & Partners, setting a target of 2% annual productivity growth over the next decade. If successful, this could expand London’s economy by GBP 107 billion by 2035.

Meanwhile, India has become London’s top foreign direct investment (FDI) source, overtaking the US in 2022-23 and maintaining the lead in 2023-24. “Foreign direct investment from India has been the fastest growing and has been our number one market for the last two years,” said Laura Citron, CEO of London & Partners.

Indian Tech Firms And Students Drive London’s Growth

Notably, Indian technology firms are expanding their operations in London. At the same time, Indian students are enrolling in record numbers. Official data shows 38,625 Indian students studied in London universities in 2023-24. A decade ago, India’s share of international students in London was under 5%. Now, it exceeds 20%.

Furthermore, experts see this as a positive trend. “Indian students now account for over 20% of international students in London,” said Mark Hertlien, Head of Global Engagement at City St George’s University.

London Innovation Hub Expands, AI And Tech Sectors Gain

Additionally, Indian IT firm Mphasis is expanding in London. It plans to double its workforce through its London Innovation Hub. “This center is a testimony to our commitment to the UK and its vibrant tech scene,” said Ashish Devalekar, Head of Europe at Mphasis.

In response, the London Growth Plan outlines steps to increase productivity and create 150,000 jobs. It focuses on skilling workers, boosting business innovation, improving housing, and upgrading transport.

Importantly, Sadiq Khan said, “This plan unlocks London’s full potential.” He added that the plan aims to raise household income for the lowest 20% by 20%, giving over a million households an extra GBP 50 per week after housing costs.

Also Read: Jammu & Kashmir’s Transformation: Boosting Growth Through Infrastructure

Ajaypal Choudhary

Recent Posts

4415 Indians Evacuated From Iran And Israel Under ‘Operation Sindhu’: MEA

India evacuated 4,415 nationals from Iran and Israel under Operation Sindhu, the MEA said Friday,…

3 hours ago

PM Modi To Embark On Five-Nation Tour To Strengthen Global Partnerships

PM Narendra Modi will embark on a five-nation tour from July 2, visiting Ghana, Trinidad…

3 hours ago

Allahabad HC Directs UPPSC To Allow Petitioner A Scribe For PCS Main Exam

The Allahabad HC has directed the UPPSC to allow petitioner Sameer Khan to use a…

3 hours ago

Allahabad High Court Slams UP Officials For Defying Judicial Orders

The Allahabad High Court strongly rebuked three senior officials from Baghpat district, the Collector, SDM…

3 hours ago

Adani Group Becomes India’s Fastest-Growing Brand, Driven By Green Energy Focus

The Adani Group has emerged as India’s fastest-growing brand in 2025, registering a massive 82%…

4 hours ago

Pakistan: Flash Floods In Swat Sweep Away 18 Tourists; Claim Seven Lives

Flash floods struck Swat district, on Friday, sweeping 18 tourists, including women and children, into…

6 hours ago