London, July 14: India investment in the UK has slipped and it is now the fourth largest investor, dropping two places, according to figures released by the business secretary, Mr Vince Cable.
The projects in 2009-10 have gone down to 92 from 108 in 2008-09, a decrease of 16 projects and the associated jobs in 2009-10 have generated 5,889 jobs, a slide of 2,077 jobs compared to 2008-09.
The US is the top investor in the UK, which attracted a record 759 new investment projects, creating 53,000 new jobs and safeguarding 43,000 more.
Addressing a breakfast meeting of over 100 of the UK’s leading investors, including representatives of Tata Group, on Wednesday, the Prime Minister, Mr David Cameron, said that his government would do its best to encourage trade.
However, Mr Cable described the decrease in Indian investment in the UK as a “temporary hiccup.” “If you had asked me 10 years ago if the Indian investment would be significant part of the UK investment, people would have thought you were slightly odd,” he said.
“The fact that we now have major Indian investors coming in is a major breakthrough and one year’s variation is either one thing or the other. We have high profile companies like the Tatas — an Indian company owns a substantial chunk of the British car industry and the UK steel industry is significant in itself,” said Mr Cable, who is travelling with Mr Cameron on his high-profile visit to India at the end of this month.