New Delhi, Dec 10 (NationPress) A total of 794 UK-controlled or owned enterprises are currently functioning in India, marking a significant 19% increase from the previous year's count of 667. These companies have achieved a remarkable combined revenue of Rs 5,693 billion (approximately Rs 5.7 trillion), employing a total workforce of 552,902, according to a report released on Wednesday.

The collaboration between Grant Thornton Bharat and the Confederation of Indian Industry (CII) revealed that out of the total, 146 high-performing companies reported annual revenues exceeding Rs 500 million, with a year-on-year revenue growth of at least 10% and a minimum filing history of two years with the Ministry of Corporate Affairs.

The companies featured in this year’s Growth Tracker experienced an average growth rate of 49%, indicating robust expansion across various sectors.

“The India–UK corridor is entering a transformative stage characterized by scale, innovation, and collaboration. With 794 UK businesses now operating in India, there is a strong presence in high-growth sectors, reflecting an enhanced economic partnership,” stated Pallavi Bakhru, Partner and Head of the India-UK Corridor at Grant Thornton Bharat.

The forthcoming India–UK free trade agreement is expected to unlock numerous opportunities in advanced manufacturing, clean energy, digital trade, and emerging technologies, thereby fostering growth, job creation, and sustainability in both economies.

Business services contributed to 19% of the average growth rate, followed by industrial products at 18%, financial services at 14%, technology at 12%, and energy and natural resources at 11%.

Both Maharashtra and Delhi-NCR continue to serve as the primary hubs for UK enterprises, collectively accommodating 67% of all high-performing firms.

The report also highlighted that 58% of UK firms operating in India are classified as micro, small, or medium enterprises.

Chandrajit Banerjee, Director General of CII, noted that harmonized regulatory frameworks in sectors like healthcare and digital technologies could minimize duplication, reduce costs, and promote greater participation of MSMEs from both nations.

The report emphasized India's expanding role in the Global Capability Centres (GCCs) sector, which generated $64.6 billion in 2024 and accommodates over 90 UK-headquartered GCCs employing more than 100,000 professionals.