Britain’s minister of state for international trade, Greg Hands, has told a gathering of India’s top 50 realtors, developers and promoters that they can expect the UK’s full support when investing in the country.
The delegation, which includes noteworthy high net worth investors, visited the House of Lords earlier today where Mr Hands gave his keynote address. The event provided an opportunity for Britain to showcase the range of investment opportunities on offer.
Mr Hands said: “I am delighted to meet India’s leading real estate developers, who are a testament to the fantastic track record of Indian investment in the UK. The UK is committed to ensuring that, as one of the fastest growing economies in the world, India has our full support to invest and succeed here.”
As the government plans £500bn of public and private investment into infrastructure, the Department for International Trade (DIT) is showcasing key investment opportunities designed to benefit the UK and Indian investors, and help regenerate large areas of cities such as Leeds, Manchester and Nottingham.
More than 800 influential individuals have travelled to the UK from India. They’re due to visit the North of England, the Midlands and Scotland, and will have an opportunity to look at real estate and infrastructure investment opportunities in local towns and cities.
DIT figures released this summer show the UK secured more inward investment projects in the last year than ever before, with 127 projects coming from India, creating and safeguarding 11,644 jobs.
Mr Hands added: “Through a series of strong investments, like from Mumbai-based Lodha group who are expanding their business in the UK, India remains one of the top five investors into our country, securing and safeguarding thousands of jobs.
“I look forward to joining with my Indian colleagues to further advance the mutually beneficial relationship between our two countries.”
According to the DIT, the market value of the UK’s real estate is over £1.6bn, representing 21 per cent of total net wealth, and the UK remains by far the most popular destination for global real estate investment in Europe. Real estate contributes £94bn to the UK economy, accounting for 5.4 per cent of GDP, and making a huge contribution to employment and regeneration.
Today’s event – Regeneration and Infrastructure Investment in a Land Alive with Opportunities – was opened by Conservative peer Lord Ranbir Suri, who welcomed representatives from the Indian delegation. The group’s visit has been timed to coincide with the annual international convention of the Confederation of Real Estate Developers’ Associations of India (CREDAI), which is taking place in London for the first time. NATCON 2017 is taking place at the Park Plaza Westminster Bridge, and will run for three days starting August 10.