Wednesday, June 29 2005 17:01 Hrs (IST) - World Time -

Bangalore: Investment from Indian businesses into the UK jumped nearly 30 per cent during 2004-05 fiscal year, reaching a record level, said Mark Dolan, Deputy Director, Inward Investment, UK Trade and Investment on the release of 2004-5 investment review report.

As per the report, Indian companies invested in 36 new projects into the UK in 2004-05, up from 28 the previous year. This is nearly a 30 per cent increase and the highest ever-Indian investment inflow into the UK. Investment from India have been rising over the past five years, up from 21 in 2000-01.

"The UK is experiencing strong interest from Indian investors because there is a growing awareness of the UK as an ideal place for dynamic Indian businesses to grasp new opportunities, technologies and markets in an open and cost-effective environment. Globalisation and recognition of the UK as an ideal high-technology location for dynamic companies in driving Indian investments", the report said.

A S Lakshminarayanan, Vice-President and Country Manager, UK & Ireland, Tata Consultancy Services Limited, quoted as saying, "The UK is a major market for TCS and we have found the UK a welcoming place to come and do business. Government policies towards it and outsourcing solutions are very positive. Its various agencies have also proved supportive and facilitated the procedures that led us to locate in the UK and continue to invest here".

In 2004-05, 1,066 foreign companies from around the world have chosen to invest in the UK. This is a 31 per cent increase from the previous year, the report added.