Avesthagen and Ceramed Engineers were the prominent investors from Bangalore in the UK in 2004-05.

According to Mark Dolan, deputy director, Inward Investment, UK Trade and Investment, Avesthagen has set up its main European office in Cambridge, making it the first Indian biotech company in the UK.

Avesthagen focusses on the application of biotech in the areas of food and pharmaceuticals.

Meanwhile, another Bangalore company has taken a different path to the British market. Ceramed Engineers, which is into metal finishing, after acquiring the British company Acton Finishing Limited, is now helping to introduce the new technology of centrifugal finishing through rapid expansion.

Releasing the 2004-05 investment review report, Dolan said that investment from Indian businesses in the UK jumped nearly 30 per cent during fiscal 2004-05.

“As the Indian economy continues to grow, the UK is getting investments across a broad range of sectors. While ICT remains strong we have had significant investments in food and beverages, pharmaceuticals and engineering,” said Dolan.

According to the investment review report, in 2004-5, 1,066 foreign companies from across the world chose to invest in the UK.

Indian companies invested in 36 new projects, up from 28 the previous year, making it the year of the highest ever Indian investment inflow into the UK. Investments from India have been rising over the last five years. It was 21 in 2000-01.