'UK firms still sitting on their hands when it comes to Indian investment,' says London-based Indian entrepreneur
London [UK], June 26 (ANI): Sukhpal Ahluwalia, a leading London-based Indian entrepreneur, has urged UK businesses to ramp up their investments in India dramatically.
The comments come as Ahluwalia looks further to dial up his business interests in the country - and prepares to spend significantly more time in the country moving forward.
Ahluwalia believes the global trade war has the potential to push the UK and India even closer together - and that UK businesses should now take advantage of the fast-growing, burgeoning economy in India as they seek to diversify away from other countries, notably China.
Sukhpal Ahluwalia said, "Too many UK businesses are still sitting on their hands when it comes to the business opportunity in India. The UK's foreign direct investment (FDI) in India in 2023 was around Pound 17 billion ( ₹ 1,46,100 crore). If this doesn't reach Pound 25 billion ( ₹ 2,92,500 crore) by the end of this year, UK businesses will have been missing a trick. I'm urging them to ramp up investment in India."
"There are so many reasons that investing in India is a huge opportunity for UK businesses. India is growing rapidly, it has an increasingly urbanised consumer base, it has some of the most talented young professionals in the world, and the recent UK-India Free Trade Agreement provides a strong foundation for future growth," he added.
"There is such a shared, deep history between the UK and India, yet I still see UK businesses investing too little in India. The global trade war is a wake-up call. Trump's tariffs, global uncertainty, and the ongoing trade war will focus many UK businesses' minds towards our long-standing, stable trading partners - and India is the foremost among them," Ahluwalia added.
Ahluwalia is currently seeking to ramp up his investments in India and is on the lookout for growth opportunities across the automotive, tech, and real estate sectors.
He invests through his family office in both private equity and venture capital opportunities.
Currently based in London, Ahluwalia is one of the most influential Indian entrepreneurs in the UK. He is Executive Chairman of GSF Car Parts, the UK's fastest-growing car parts supplier, and founder of Dominus, a multi-billion-pound student accommodation and hospitality developer. He previously founded Euro Car Parts, Europe's largest car parts distributor.
In 2024, he was recognised as Asian Businessperson of the Year at the Asian Achievers Awards.
Over recent years, Ahluwalia has ramped up his business and philanthropic work in India and intends to spend significantly more time in the country moving forward.
Ahluwalia said, "I have enjoyed spending more and more time in India over the last few years, and I look forward to ramping up that time further still over the coming years. But whilst I'm looking forward to returning to my homeland, I don't plan to hang up my business boots as I move into that next part of my life.
"Instead, I view my role as being a bridge between the UK and India. I want to play a positive role in supporting activity between the two countries, and I will be directly investing myself too. There is so much more we can be doing together as countries. And I see that as part of my life's mission," Ahluwalia added. (ANI)
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