LONDON: The UK’s capital city has unveiled an ambitious new ‘Growth Plan’ to provide an estimated GBP 27 billion extra tax revenue to fund vital public services in London and across the country, with India pegged as its number one source market in terms of foreign direct investment (FDI).
The plan, unveiled recently by Mayor of London Sadiq Khan along with growth agency London & Partners, aims to restore productivity growth to an average of 2 per cent a year in the next decade, which is hoped would make London’s economy GBP 107 billion larger by 2035. India has been on a growth curve for the last three years, overtaking the US as London’s single-largest FDI source market in 2022-23 and continuing through 2023-24.
“Foreign direct investment from India has been the fastest growing and has been our number one market for the last two years,” said Laura Citron, CEO of London & Partners. PTI
