Hong Kong Current Affairs - 2020

India has become the Second Largest Source of FDI for the United Kingdom

The statistics for the number of Foreign Direct Investment (FDI) projects in the Financial Year 2019-20 in the United Kingdom was released on 10th July 2020 by the United Kingdom Government’s Department for International Trade (DIT).

As per the Figures provided by DIT, the second-largest source of FDI in the United Kingdom is now from India.

Highlights from the Statistics of DIT

  • United States continues to be the number one source of FDI in the United Kingdom with 462 projects resulting in 20,131 jobs.
  • Having invested in 120 projects, India has moved to second place. These 120 projects have resulted in 5,429 jobs. In Financial Year 2018-19 India was in third place with 106 projects that resulted in 4858 jobs.
  • In Financial Year 2019-20, Germany, France, China, and Hong Kong were the 3rd, 4th, 5th, and the 6th largest source of FDI for the United Kingdom respectively.
  • FDI to the United Kingdom has witnessed an overall 4 percent increase in the Financial Year 2019-20 as compared to the previous Financial Year.

India ranked 34th in JLL and LaSalle’s biennial GRETI

Sustainability Initiatives and regulatory reforms have enhanced higher levels of transparency in the real estate industry of India as a result of which India improved its ranking to 34th place in the biennial Global Real Estate Transparency Index (GRETI).

GRETI

The Index GRETI has set a unique benchmark in terms of transparency in the real estate market across the globe and has also served as an essential guide for international companies investing & operating in the foreign markets.

GRETI is released biennially by the United States-based property and investment management services firm- Jones Lang LaSalle Incorporated (JLL). GRETI was first released in the year 1999. This year marked the 11th edition of GRETI. A total of 163 cities and 99 countries have been covered in the 11th edition of GRETI.

India’s ranking explained in Depth

India ranked 34th in 2020 edition had made a significant improvement in ranking as in the 2014 edition, India was ranked at the 39th place globally. For this improvement, GRETI has citied improvements and reforms such as Real Estate Investment Trust (REIT) framework improved, RERA Act 2016, Benami Transaction Prohibition (Amendment) Act 2016, Goods and Services Tax (GST), etc.

India’s overall score in 2020 GRETI ranking was 2.69 (Higher the score- Lower the Ranking).

Other Countries in the Ranking

  • United Kingdom (overall score: 1.31) has been ranked at the first place in GRETI 2020 ranking
  • United States (1.35) and Australia (1.39) have been ranked at second and third place respectively
  • Hong Kong (2.03) was ranked at 15th place, while Taiwan (Republic of China) (2.34) has been ranked at 23rd place
  • China ranked 32nd with a 2.59 overall score
  • Sri Lanka at 65th place,  Myanmar at 72nd, Pakistan at 73rd