London Deputy Mayor for Business Rajesh Agrawal will lead a delegation to India starting March 13, in a primary in-person trade mission run by the Mayor’s International Business Programme to the nation since 2019, to promote stronger trade and funding hyperlinks.
On a four-day mission from March 13-16, India-born Agrawal will go to New Delhi and Bengaluru and will probably be joined by 10 London tech firms together with Electric Miles, Guider, OneID and Softools, in accordance to an announcement.
Noting the longstanding cultural and financial hyperlinks between the 2 international locations, Agrawal mentioned: “Indian cities rightly look to London as the proper launchpad to develop their enterprise internationally. London and cities reminiscent of Mumbai and Bengaluru share mutual strengths in sectors reminiscent of finance, life sciences and expertise – creating enormous alternatives for enterprise partnerships.”
Delegates will meet with representatives from Indian tech firms together with Wipro and HCLTech and Tata in a bid to present alternatives for firms within the UK to create enterprise partnerships and discover funding and development alternatives in India.
The Deputy Mayor can even meet Indian enterprise capitalists and buyers with an curiosity in increasing to London.
“As one of many world’s quickest rising economies, India can also be a serious marketplace for bold London firms. Our trade mission will proceed our work in serving to London firms to maximise enterprise and funding alternatives in India,” Agrawal mentioned in an announcement.
London is the primary (*13*) metropolis for Indian international direct funding. According to figures printed by London’s enterprise development company, London & Partners, the UK capital additionally ranked because the quantity two metropolis globally for Indian firms trying to develop their footprint internationally.
The analysis revealed that previously 10 years, London has attracted 174 funding tasks from India – considerably greater than another (*13*) metropolis and the likes of Singapore (150) and New York (53).
Over the previous 10 years, funding from Indian firms has offered a serious increase to London’s financial system, with the information displaying that Indian international direct funding has led to the creation of seven,853 further jobs within the UK capital.
“We proceed to obtain a lot of enquiries from Indian firms trying to arrange and broaden in London. As India’s digital financial system continues to develop, there’s significantly sturdy curiosity in London from excessive development Indian firms in sectors reminiscent of fintech, ecommerce and local weather tech,” Laura Citron, CEO of London & Partners, mentioned.
Quite a few well-known Indian firms have expanded their operation in London lately, together with Indian IT giants Wipro and Infosys, in addition to Indian unicorns upGrad, Ola and Oyo. Between 2012-2022, Mumbai and Bengaluru have been the highest cities for enterprise funding from India into London.
(Only the headline and movie of this report could have been reworked by the Business Standard workers; the remainder of the content material is auto-generated from a syndicated feed.)
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