The £36 Billion Effect: The Entrepreneurial Engine of the Indian Diaspora in the UK

Beyond their immense professional contributions, the Indian diaspora has unleashed a transformative entrepreneurial force upon the UK economy. A series of reports, “India in the UK: The Diaspora Effect,” produced by Grant Thornton, FICCI, and the High Commission of India, quantified the colossal economic heft of this activity. Their research identified 654 large companies owned or led by members of the diaspora, and the figures are staggering. These firms alone generate a combined annual turnover of £36.84 billion, contribute over £1 billion in corporation tax, and undertake £2 billion in capital expenditure. Perhaps most importantly, this select group provides over 174,000 jobsacross the United Kingdom.

This, however, is merely the tip of the iceberg, with estimates suggesting a sprawling landscape of over 65,000 diaspora-owned companies in total. This entrepreneurial zeal spans a diverse range of sectors, from hospitality, retail, and healthcare to technology and financial services. The journey is often one of spectacular scaling. Prominent figures like the Hinduja family (family net worth £37.2 billion), Lakshmi Mittal (ArcelorMittal), and Lord Swraj Paul(Caparo Group) are established titans. They are joined by newer success stories, such as Mohsin & Zuber Issa, who built the global EG Group from a single petrol station, and Simon & Bobby Arora, who transformed a small chain of 21 shops into the FTSE 100 retail giant B&M.