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BUDGET 2025 AT A GLANCE||| SOME KEY PROVISIONS

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  BUDGET 2025 AT A GLANCE SOME KEY PROVISIONS SARASIJ MAJUMDER   1.       10,000 additional seats to be inculcated in Medical Institutes in one year; 75,000 additional   medical seats will be created in next 5 years. 2.       100 GW target for Nuclear Power Generation by 2047. 3.       40,000 new houses will be added under Swayam Housing scheme. 4.       50 New Tourists’ destination will be developed by next year . 5.       A Maritime Development Fund with a corpus of ₹ 25,000 crore to be set up, with up to 49 per cent contribution by the Government, and the balance from ports and private sector. 6.       Atal Tinkering Labs (ATL) : 50,000 such labs are to be set up in government schools in 5 years. This is a part of Atal Innovation Mission (AIM). Comment: In my opinion, t...
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INDIA’S GLOBAL FOOTPRINT

 

INDIA’S  GLOBAL  FOOTPRINT 

DESTINATION:UNITED KINGDOM

SARASIJ MAJUMDER

 

More Indians are paying more property taxes, and corporate and other taxes to the British government. British politics lies primarily in the hands of native Britishers. I’ve studied and worked in London and attended Indian real estate melas that sell properties in London. Firstly, Indians prefer to invest in London because it gives better returns. The cost per sq. feet in London and Mumbai are almost identical.

Mukesh Ambani, Adar Poonawalla, Pankaj Oswal, Lakshmi Mittal, and Ravi Ruia own prime properties in London.

In other words, it’s Indians who live in India and invest in London as investors are higher than Native Britishers. The legal system is less complicated to purchase property in London as it’s not only a global financial hub but also a global educational hub. More Indians move to London for higher studies and rent properties that are owned by Indian investors who live in Mumbai or Ahmedabad (Patels)— so there’s a steady flow of rental incomes, with better returns due to currency conversion. The market fundamentals are strong as the value of the Indian rupee against GBP makes it a ‘safe and steady investment”.

Comparatively with rising inflation and cost of living, the English prefer to move out of London and own properties in tier-2 and tier-3 cities as it's cheaper and affordable to live there while commuting to work through high-speed trains.

Next, since the 1990s Indian-UK free trade agreement, prime British-based business groups are now taken and owned by Indian companies

  • Bharti Enterprises owns a 24.5% stake worth $4 billion in British Telecom
  • Jaguar and Land Rover are owned by Tata Group along with the port Talbot facility.
  • Reliance Group owns the toy store chain Hamleys
  • Wipro owns Capco — a management consultancy firm
  • Wadhawan Global Capital has investments in British digital bank Zopa
  • EET fuels is owned by Essar group
  • Dr Reddy’s and Glenmark supply pharma products to British NHS

As of 2024, 971 Indian-owned business groups operate in the UK, employing 118,430 people and generating revenue worth £68.09 billion, out of which £1.17 billion in corporation tax. The average growth rate of these companies is 24%, while top companies achieve a 50% growth rate. 100 companies have expanded their revenue by 10% or more by achieving a 48% annual revenue growth rate. Of these, the three fastest-growing companies are Interglobe Enterprises (UK) Ltd (323%), SAR Overseas Ltd (319%), and Sterlite Technologies UK Ventures Ltd (244%).

  • Technology, media, and telecommunications companies growth rate is 27%
  • Manufacturing and engineering companies' growth rate is 20%
  • Pharmaceuticals and chemicals companies growth rate is 16%

Out of the fastest-growing 100 Indian-based companies, 57 are based in London and operate in the technology, media, and telecommunication sectors. So it's not a surprise that Indians own prime properties in London higher than the native Britishers.

Next, is the Indian diaspora community that runs businesses in the UK — 654 large companies have a combined revenue of 36.84 billion pounds employ over 174,000 people, and pay over 1 billion pounds in Corporation Tax. They collectively invest around 2 billion pounds through capital expenditure.

Among them, 35% have one or more women directors and 23 businesses generate 80% of the total jobs provided by the Indian diaspora companies in the UK — a total of 140,000 jobs. The top five employers include B&M Retail Limited, with 26,496 jobs, followed by Vedanta Resources Ltd (25,083), Boparan Holdco Ltd (21,949), Hinduja Automotive (19,601) and HC-One Ltd (10,949).

Prime business includes the hospitality sector (19%), healthcare, and pharmaceuticals (15%) retail and wholesale (13%), real estate and construction (13%), and food and beverages (9%)

The Indian-based and Indian diaspora-based business community in the UK brings a combined turnover of around 85 billion pounds, with over 1.7 billion pounds paid in taxes and it employs close to 280,000 employees.

52% of their business is spread across London metropolitan city.

Indians have the money and manpower to buy properties in London than the native Britishers. No wonder why exclusive property melas in the UK are conducted for Indians — this is for Indians to buy properties in the UK.

SOME References:

https://www.financialexpress.com/business/industry-more-indians-own-property-in-london-than-the-english-heres-why-indians-buy-property-in-uk-2652960/

https://www.ndtv.com/indians-abroad/over-40-indian-origin-in-list-of-uks-wealthiest-led-by-hinduja-brothers-1690598

ALSO REFER PUBLIC DOMAINS

Image:- GOOGLE-- sourced from DNA

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