Wipro, Zoho Lead India's UK Growth Surge: Report

Indian IT majors Wipro and Zoho are spearheading the surge in Indian-owned businesses in the UK, according to Grant Thornton’s India Meets Britain Tracker 2025.

Wipro IT Services UK Societas, a UK-based subsidiary of Wipro, recorded an astounding 448% revenue growth, topping the list of fastest-growing Indian firms in the UK.

According to the report, this dramatic growth follows the company’s strategy of localising services, winning long-term contracts—including a £500 million, 10-year agreement with Phoenix Group—and establishing innovation and delivery centres in London, Reading, and Edinburgh.

Zoho Corporation Limited entered the Tracker for the first time, achieving 197% annual revenue growth, making it the fastest-growing new entrant. With £67 million in revenue, Zoho credited its success to a smart sales approach and tripling its Bletchley team to support UK clients better. 

The Tracker now tracks 1,197 Indian-owned UK companies—a 23% increase from last year, reflecting broader expansion trends tied to innovations in AI, cloud, and digital services.

Collectively, these businesses generated £72.1 billion in revenue, employing 126,720 talents across the UK, and contributed £67.3 million in corporation tax. 

The Tracker, developed in collaboration with the Confederation of Indian Industry (CII) and, for the first time, India Global Forum (IGF), identifies the top fastest-growing Indian companies in the UK as measured by percentage revenue growth year-on-year.

It includes Indian-owned corporations with operations headquartered or with a significant base in the UK, with a turnover of more than £5 million, year-on-year revenue growth of at least 10% and a minimum two-year track record in the UK, based on the latest published accounts filed as of 31 March 2025.

Anuj Chande OBE, partner and head of South Asia Business Group, Grant Thornton UK Advisory & Tax LLP, said in the report that the 2025 research identified 1,197 Indian-owned companies operating in the UK, an increase of over 23% from last year’s 971. 

“I’m delighted that this is the highest number yet, crossing the 1,000 threshold for the first time, and the largest year-on-year increase since we began measuring total numbers in our Tracker in 2017. This is an exciting time for UK-India bilateral relations as a new era begins with the conclusion of negotiations on the UK–India Free Trade Agreement (FTA),” he said, adding that the historic milestone was reached on 6 May 2025, and is expected to increase UK GDP by £4.8 billion and UK wages by £2.2 billion annually in the long run. 

The technology, media, and telecom (TMT) sector remains the largest in the Tracker, comprising 31% of companies in 2025, up from 27% in 2024. Pharmaceuticals and chemicals moved to second place with 22%, while manufacturing and engineering declined to 14%. Financial services grew to 10% of companies, led by the Indian government and private banks.