The Indian diaspora in the UK comprises approximately 1.5 million people. This group has contributed largely across many fields. Real estate investment, trading, medicine, financial services, information technology, academia, sports, industry, politics, science, business, literature, and the arts have been noticeably influenced by the work of the Indian diaspora in the UK. Grant Thornton published a report in 2020 entitled “India in the UK: The diaspora effect.” This report was in collaboration with the High Commission of India in the UK and the Federation of Indian Chambers of Commerce & Industry (FICCI). The report attempts to quantify the economic impact of the Indian diaspora in the UK. In this article, we cover the main areas of contribution outlined by the report.
The report demonstrates that 654 diaspora-owned companies researched with a turnover of over £100,000 produce a total annual turnover of £36.84 billion. The report also shows that these companies are also significant employers. These companies employ over 174,000 people in the UK.
Businesses owned by the Indian diaspora in the UK are most prominent in 5 sectors. These are healthcare, food and beverage, hospitality, real estate, pharmaceuticals, and technology.
Healthcare
Healthcare is one of the popular sectors for the Indian diaspora in the UK. The community invests heavily in care homes and private nursing.
This sector has a significant real estate component. The diaspora has a pronounced inclination toward property management which increases their affiliation with healthcare. A new group of entrepreneurs stemming from the diaspora has entered the wellness industry. They are reinventing traditional Indian health and wellness commodities to be compatible with the UK market of today.
Food and Beverage
Indian cuisine is one of the most well-liked in the UK. The diaspora presence in the food and beverage sector is robust. Sake Dean Mohamet, an East India Captain, started the first Indian restaurant in the UK in 1810. Now there are thousands of Indian restaurants in the UK. 5 of the 66 Michelin-starred London restaurants were Indian as of 2020. The need for Indian spices, vegetables, and other ingredients has increased business opportunities.
Companies such as East End Foods which sells packaged Indian eatables and VB & Sons, an Indian grocery store have had a sizable economic impact and have provided numerous jobs. Indian brands such as Tilda Rice and Patak’s have gone global and changed the fabric of the UK’s daily food consumption.
Hospitality and Real Estate
The diaspora is inclined towards the tangible aspect of property as an asset. This makes hospitality and real estate a natural fit for them. Many of the diaspora’s property portfolios include residential and commercial properties. Properties owned span from 2 to hundreds in number and are frequently in conjunction with other businesses. Family-owned businesses with tens of millions of pounds worth of property portfolios are not unusual.
The diaspora both invests in and develops real estate. Hospitality, care homes, student housing, and co-living are just some of the areas they operate in.
Pharmaceuticals and Life Sciences
The diaspora is involved with retail, wholesale, and medicine manufacturing in the pharmaceuticals sector. Diaspora-owned retail and wholesale businesses include Day Lewis, Sigma Pharmaceuticals, B&S Group and Chemilines. Bristol Laboratories is an expert manufacturer. It is common for many in the diaspora to have pharmacy qualifications which explains their interest in this sector. The pandemic saw a steady supply of medicines from diaspora-owned pharmaceutical companies.
Technology, Media, and Telecoms
The UK is the second biggest purchaser of Indian software exports. This has caused the migration of many Indian professionals to the UK. Indians in the UK are well connected to the Indian technology sector.
Numerous diaspora members have become well-known entrepreneurs in the UK tech space. Many also manage numerous ethnic television channels, radio stations, newspapers, and magazines. The diaspora’s contribution to media is gaining more mainstream recognition in the UK.
These were the most prominent sectors of Indian Diaspora contribution in the UK. The 5 sectors of healthcare, food and beverage, hospitality, real estate, pharmaceuticals, and technology have seen significant contributions by this community. Interest in these sectors is heavily influenced by noticeable trends in diaspora interest and involvement.
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FAQs
Businesses owned by the Indian diaspora in the UK are most prominent in 5 sectors. These are healthcare, food and beverage, hospitality, real estate, pharmaceuticals, and technology.
The report demonstrates that 654 diaspora-owned companies researched with a turnover of over £100,000 produce a total annual turnover of £36.84 billion.
These companies employ over 174,000 people in the UK.
Sake Dean Mohamet, an East India Captain, started the first Indian restaurant in the UK in 1810.
