Indian companies are playing an important role in brining the British economy back on the path of sustainable growth by generating new jobs, an analysis of figures compiled by consultancy firm Grant Thornton LLP showed.

According to a report prepared by Grant Thornton LLP prepared in partnership with the Confederation of Indian Industry (CII), more than seven hundred Indian companies in the UK employed more than one lakh people, providing a big boost to the economy.

Indian salt-software conglomerate Tata Group topped the list of top Indian employers in the UK, with its Tata Steel and Tata Motors subsidiaries together generating nearly 60,000 jobs.

The report titled "India Meets Britain: Tracking the UK's Top Indian Companies" also revealed that more than 50 per cent of the top 41 fastest-growing firms are in the technology & telecoms (32 per cent) and pharmaceuticals & chemicals (22 per cent) sectors.

Anuj Chande, head of South Asia Group at Grant Thornton LLP, said that sluggish growth potential in the Indian market prompted Indian investors to scale up investments in the UK.

Commenting on the compiled figures, he said, "In light of sluggish growth potential in India, investors are increasingly eager to enter, or scale up their UK operations as the British economy re-enters a growth phase".

Chande added that the cultural history of the two countries also plays a key role in several Indian executives' decisions for setting up a base in the UK.

Of the top 41 Indian companies operating in the UK, 29 per cent are based in London, 29 per cent in the North, 32 per cent in the South, and the remaining 10 per cent in the Midlands.