Grant Thornton's India Meets Britain Tracker reveals 23% year-on-year surge in Indian-owned UK businesses amid historic Free Trade Agreement milestone
NEW DELHI and LONDON, June 19, 2025 -- The 12th edition of the Grant Thornton India Meets Britain Tracker was officially launched today by Indian Commerce Minister Piyush Goyal, during a special opening session at IGF London at the Queen Elizabeth II Centre. This year's edition arrives at a pivotal moment, closely following the finalisation of the UK–India Free Trade Agreement and marks a record-breaking year for Indian business presence in the UK.
Produced by Grant Thornton in collaboration with India Global Forum and Confederation of Indian Industry, the 2025 report provides the most comprehensive snapshot of Indian investment in the UK. IGF's deep-rooted influence, experience, and convening power in the UK–India corridor further enhance the strategic value of this research.
Manoj Ladwa, Founder and Chairman of IGF, said: "This year's tracker is a powerful testament to the vitality of the UK–India economic relationship. As the first major platform following the conclusion of the FTA, IGF London provides the ideal stage to spotlight how Indian businesses are scaling in the UK. The rise in Indian-owned companies isn't just growth, it's momentum. It reflects the ambition and trust shaping this new chapter of bilateral collaboration."
The 2025 Tracker identifies 1,197 Indian-owned companies operating in the UK, a 23% increase from last year's 971. This marks the highest figure on record and the largest annual increase since total numbers were first measured in 2017. These companies collectively reinforce the economic significance of the bilateral corridor, as the newly signed FTA is forecast to contribute an estimated £4.8 billion to UK GDP and £2.2 billion in wage growth annually.
The report reveals the Technology, Media, and Telecom sector as the largest and fastest-growing vertical, representing 31% of all tracker companies. Pharmaceuticals and chemicals hold strong in second place, accounting for 22% of growth tracker companies. Financial services saw a notable rise, making up 10% of Tracker companies, the largest share since 2021.
Geographically, London remains the top choice, hosting 47% of the 74 fastest-growing companies. The South of England follows at 24.3%, while the Midlands and North contribute 9.5% each.
Anuj Chande, Partner and Head of the South Asia Business Group at Grant Thornton UK Advisory & Tax LLP, commented: "We are thrilled to witness such a significant surge in Indian-owned businesses in the UK. This reflects the confidence Indian investors place in the UK market, as well as the opportunities being unlocked by deeper bilateral engagement. The FTA's conclusion promises to supercharge this momentum, and this report offers a clear view of where that growth is taking shape. Our collaboration with India Global Forum has further strengthened the Tracker's reach and relevance at a pivotal moment in UK–India relations."
The Tracker stands as a critical barometer of bilateral economic health and a strategic tool for policymakers, investors, and businesses on both sides. As the UK–India relationship enters a new era, IGF London 2025 underscores how partnership on paper is now being translated into impact on the ground.
The announcement was the highlight of Day 1 of IGF's flagship event in the United Kingdom. With over 100+ speakers, 1000 participants, and events across iconic venues in London, IGF London 2025 encompasses a spectrum of topics - from technology and trade to culture and commerce. This year's edition marks a powerful milestone - a decade since Prime Minister Narendra Modi's landmark 2015 visit to the UK, and the two nations have finalised the long-awaited Free Trade Agreement. IGF London is the first major international platform to celebrate and analyse this historic achievement, unlock new opportunities that emerge from its conclusion, and shape the next phase of UK-India collaboration.
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