In a sign of growing UK-India economic partnership, there are now 1,197 Indian-owned companies operating in Britain, an increase of over 23 per cent from 2024 when 971 were recorded, according to a report released on Thursday.

This is the highest number identified, and the largest year-on-year increase, since Grant Thornton began tracking exact total numbers in 2017.

The combined revenues reported by Indian-owned companies in the UK increased to 72.14 billion pounds from 68.09 billion pounds in 2024. These businesses employ 126,720 people across the UK and have added over 8,000 new jobs in the past year.

“The proportion of female directors has also increased to 24 per cent from 21 per cent in 2024. This year’s listing of the fastest-growing companies also delivers strong results, with 74 companies recording revenue growth of 10 per cent or more,” the report mentioned.

The 2025 Tracker companies achieved an average growth rate of 42 per cent and a combined turnover of 32.6 billion pounds. These firms also paid 67.3 million pounds in corporation tax and created more than 56,000 jobs.

“The findings of this year’s India Meets Britain Tracker stand testimony to the deep and historic relationship and between these two great nations. It is evident that India continues to see the UK as a key investment hub, and a country in which Indian firms can flourish,” said Anuj Chande, Partner and Head of the South Asia Business Group at Grant Thornton.

The report, produced in collaboration with Confederation of Indian Industry (CII), has been strengthened by the addition of India Global Forum (IGF), who enhance the report with their long-standing, expertise, experience and influence in the India UK corridor.

The report was officially launched by the UK Secretary of State for Business and Trade, Jonathan Reynolds, and Union Commerce Minister Piyush Goyal, during a special opening session at the Queen Elizabeth II Centre, as part of IGF’s London flagship programme.

“Wipro IT Services UK Societas tops the growth rankings with a 448 per cent revenue surge, followed by a new entrant, corporate IT management firm, Zoho corporation Limited, which posted 197 per cent growth,” said the report.

In terms of location, London remains the destination of choice, with 47 per cent of all companies headquartered in the capital, followed by the South of England (24.3 per cent).

In terms of the sectors with the most Indian owned firms, the TMT (Technology, Media, and Telecommunications) sector continues to lead, accounting for 31 per cent of Tracker companies. Pharmaceuticals and chemicals hold strong in second place (22 per cent).

Notably, financial services rose to 9.5 per cent of Tracker companies — their highest proportion in recent years — driven by the strategic expansion of Indian banks and financial institutions in London’s global finance hub, said the report.