UK ‘proud of the Indian investment in Jaguar Land Rover’ says Cameron
Jaguar Land Rover became a subsidiary of the Indian carmaker Tata Motors in 2008. In 2013, JLR reported a 19% rise in its sales and claimed that Jaguar is the “fastest growing brand in Germany, India and the US”.
The company supports more than 190,000 UK jobs through the supply chain, dealer network and wider economy. JLR is also the biggest UK investor in Research & Development in the manufacturing sector – ahead of British Aerospace and Rolls-Royce – and in the global top 100 for R&D spend.
Cameron’s positive words about Indian investment came during his speech at the World Economic Forum (Davos) 2014 where he also said that the UK welcomed Emirates’ investment in a new stadium for Arsenal, and Etihad’s investment in Manchester City.
“And we are proud that in the first half of last year the UK became the world’s largest recipient of inward foreign direct investment,” Cameron said.
He also outlined a long-term plan to secure UK’s economic future which included cutting the number of immigrant in Britain.
“Capping welfare and reducing immigration” will help the UK economy deliver for “people who want to work hard and play by the rules”, he said.
Other aspects of the economic plan included cutting the deficit, reducing taxes and driving job creation.
“Our long-term economic plan will bring overseas jobs back to Britain, giving families more security,” the Prime Minister said on Twitter.
He ended his WEF speech with the words: “Our economy is growing.”
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British PM’s Davos speech comes the same week that the IMF upgraded its growth forecasts for Britain by more than any other G7 country
It also comes at a time when Britain is seeking to strengthen its trade ties with India and looking to attract more talented Indian students to UK institutions.
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