India’s domestic economy may be a bit subdued these days, but some 700 India-based companies operating in the UK are driving job creation – with many of the Indian-parented UK companies growing at more than 10 per cent annually.
According to new research by Grant Thornton, a UK auditor, UK companies owned by an Indian parent employ more than 100,000 people in total. A dozen of the companies employ more than 1,000 people each.
The 41 fastest growing companies in that list are growing more than 10 per cent year-on-year in terms of turnover, with 26 expanding at a rate of more than 20 per cent annually, including Infosys subsidiary Lodestone, Essar Energy, Tata Communications and Tata Consultancy Services subsidiary Diligenta.
You may have thought Jermyn Street was chalk to Colaba Causeway’s cheese: the London chap and Mumbai man are poles apart sartorially. But upmarket shirtmaker, TM Lewin, is looking to change all that.
The quintessentially British retailer has signed an exclusive franchise agreement with Brand Marketing India – the company that launched Calvin Klein Jeans and French Connection in the country – to market and distribute its products across the subcontinent.
Based solely on personal taste, Mukesh Ambani cuts an unlikely figure as a fashion magnate – evidence pictured left.
Yet India’s richest man has built quite a stable of fashion brands in his retail portfolio, including Diesel, Kenneth Cole and Brooks Brothers. On Friday, Reliance Brands – a part of Ambani’s Reliance Industries – announced that it had added another foreign brand, Superdry, which will join fellow Brit Thomas Pink in the Ambani fold.