EY Attractiveness: India FDI opportunities for Scotland

• India has emerged as one of the UK’s most strategically important sources of foreign direct investment (FDI).
• Scotland is UK’s largest FDI location outside London but secured just one of the UK’s 71 Indian Investment projects.
• First Minister welcomes new analysis showing opportunity for Scotland to attract major new projects.

Scotland’s First Minister John Swinney welcomed new analysis from the EY Attractiveness Survey 2026 which shows significant opportunities for Indian investment in technology, financial services, professional services, clean energy and innovation-led sectors.

The analysis cited Scotland’s talent base and world-class universities as key strengths to help attract additional projects from the world’s sixth biggest economy.

As he arrived in Delhi to lead a trade mission to India the First Minister said Scotland is ‘uniquely placed’ to work with businesses in India to attract investment and realise two-way trade opportunities as he pledged to work with sector leaders to showcase the talent, universities and industries that Scotland has to offer.

First Minister John Swinney said:  

"India's businesses are investing in Europe on a huge scale and as this new EY report confirms, Scotland can provide a home for some of that investment. Our strengths - particularly in technology, financial services and clean energy – make us uniquely placed to match India’s priorities.

“This year’s EY annual attractiveness survey showed that Scotland once again remains the UK’s top destination for foreign direct investment outside London. It also showed that one in three global companies planning to invest in the UK are now considering Scotland - up from one in four the previous year.

“Foreign direct investment from India has historically been lower, however, it is clear there is untapped economic potential, with our own independent analysis showing Scotland and India’s trading partnership could be worth more than £3 billion a year by 2030.

“That is why I am in India to help fly the flag for Scottish people, institutions and sectors, making the case for trade and investment to help deliver jobs and growth.” 

Sue Dawe, EY Scotland Managing Partner, said:

“India has firmly established itself as one of the UK’s most important sources of foreign direct investment and almost half of all Indian investment projects into Europe last year were secured by the UK. For Scotland, that presents a significant opportunity.

“As Scotland looks to strengthen its economy and broaden its international connections, a more targeted approach to high-growth markets such as India could help unlock new investment, jobs and knowledge exchange. Between Scotland’s exceptionally robust track record in attracting international investment and the strength of the wider relationship with India there is a strong platform for Scotland to build on.”