The number of Indian-owned companies operating in the UK has surged by nearly 60 per cent over the past year, with their combined turnover surpassing £105 billion, according to the latest India Meets Britain Tracker.
The annual report, published by Grant Thornton UK in partnership with the Confederation of Indian Industry (CII) and India Global Forum (IGF), identified 1,912 Indian-owned businesses in the UK in 2026, up from 1,197 in 2025. Together, these firms generated £105.77 billion in revenue, compared with £72.14 billion the previous year.
The findings underline the growing economic significance of Indian investment in Britain and come almost a year after the signing of the UK-India Comprehensive Economic and Trade Agreement (CETA) in July 2025.
Growth fuelled by trade ties
The report found that 66 companies recorded annual revenue growth of at least 10 per cent, with an average growth rate of 61 per cent, up from 42 per cent last year. Prime Focus International Services emerged as the fastest-growing company, posting growth of 1,283 per cent, while Zydus Pharmaceuticals UK reported growth of 320 per cent.
Indian-owned firms also made a growing contribution to the UK labour market. Employment across the sector rose by more than 60 per cent to 203,549 people, compared with 126,720 in 2025. Corporation tax contributions increased from £277 million to £378 million over the same period.
The report highlighted the continued dominance of the technology, media and telecommunications (TMT) sector among Indian businesses in Britain, followed by manufacturing and pharmaceuticals. Major contributors included LTIMindtree, Wipro and Prime Focus, while Zydus Pharmaceuticals was identified as a key driver of growth in life sciences.
Jaguar Land Rover Automotive, owned by Tata Motors, remained the largest Indian employer in the UK, with 44,103 staff. Tata Steel ranked second with 19,600 employees, while Borelli Tea Holdings employed 5,040 people.
The study also pointed to gradual progress in gender diversity, with women now accounting for 26 per cent of directors across Tracker firms, up from 24 per cent last year.
Investment spreading beyond London
London remained the most popular destination for Indian businesses, hosting 38 per cent of companies identified in the report. However, the capital's share has fallen from levels exceeding 50 per cent between 2018 and 2021, suggesting a broader geographical spread of investment.
Outside London, the South of England accounted for 27 per cent of Indian-owned businesses, while the Midlands and the North hosted 12 per cent and 11 per cent respectively.
The report comes amid strengthening economic ties between the UK and India. Bilateral trade reached £47.4 billion in 2025, representing an 11.7 per cent increase year-on-year, with growth concentrated in advanced manufacturing, clean energy and technology.
CETA expected to drive further expansion
Anuj Chande OBE, Partner and Head of the South Asia Business Group at Grant Thornton UK, said the figures demonstrated the strength of the India-UK economic relationship.
"The India Meets Britain Tracker 2026 highlights the remarkable achievements of Indian businesses in the UK. With CETA now in place, the India-UK corridor is poised for unprecedented growth, creating value for both economies and cementing a long-term partnership," he said.
He added that Grant Thornton's International Business Report found that 99 per cent of Indian firms already operating in the UK planned to expand further, while nearly 90 per cent of those without a UK presence intended to establish operations in Britain.
Industry groups said the trade agreement was helping to boost investor confidence and encourage new business activity.
A spokesperson for the CII said the agreement had "done much to encourage and enable Indian investment in the UK" and predicted further growth once the deal formally comes into force.
Meanwhile, the India Global Forum said the UK remained a key destination for Indian investment, particularly in strategic sectors linked to future economic growth, but stressed that regulatory frameworks would need to keep pace with increasing levels of cross-border activity.
Despite the positive outlook, the report noted that businesses continue to face challenges including rising operating costs, regulatory complexity and heightened competition. However, it said Britain's legal framework, financial markets and focus on innovation continue to make it an attractive destination for Indian investors.
The Tracker concludes that the implementation of CETA is expected to accelerate investment and trade flows further, supporting the shared ambition of both countries to achieve $100 billion in bilateral trade by 2030.
