India has become the second biggest investor in London after the US and ahead of China with a 117% increase in Indian companies across all sectors investing in the British capital during 2015, new figures say.
According to London & Partners, the business and promotional organisation of the mayor of London, the rise included a 133% increase in Indian technology companies investing in the city, which accounted for 46% of all projects.
Major technology investments in London from India in recent years include software testing service Cigniti Technologies and customer support company Kayako.
The figures were released at the inaugural India Emerging 20 (IE20) event on Monday evening that brought together leading entrepreneurs from India and Britain, including Karan Bilimoria, who came to Britain in the early 1980s and went on to found a successful beer brand.
“India is the fastest growing major economy in the world and Indian companies are now the second biggest foreign investor in London. To welcome 20 of their brightest and best businesses demonstrates how attractive the city is for Indian companies with global ambitions,” London’s mayor Boris Johnson said.
The 20 Indian companies were selected to come to London to meet and interact with senior business leaders, venture capital investors and decision makers from major global companies. The winners come from a broad range of categories including life sciences, artificial intelligence, IT services, cyber security, sports tech, travel tech, ad tech, e-commerce and analytics.
The IE20 offers an opportunity for companies to test themselves against the best and win recognition on the international stage. The benefits include opportunities to meet and network with peers, industry experts and investors, which offers the opportunity to maximise a company’s global potential