A total of 68 percent of 635 United Kingdom (UK) companies in India are micro, small, and medium enterprises (MSMEs), with 60 percent having their parent company headquartered in London, according to a joint report released by Grant Thornton Bharat and the Confederation of Indian Industry (CII) on Monday. In India, MSMEs form the cornerstone of the Indian economy. The Britain Meets India (BMI) 2023 report identified the fastest-growing UK businesses operating in India, ranked by growth and employment generated. It stated that the technology sector is the dominant force among 635 United Kingdom (UK) companies operating in India. The report underscored the potential of the India-UK relationship, especially in sectors such as defense, infrastructure, clean energy, health, technology, and innovation. Notably, the report noted that the India-UK Free Trade Agreement (FTA) has the potential to further strengthen bilateral ties and boost economic prosperity for both nations.