Skip to content
Search

Latest Stories

London emerges as top choice for Indian investors ahead of other global cities

LONDON emerged as the top choice for Indian investors ahead of other cities such as Dubai and Singapore, with investments by Indian companies in the British capital reaching an all-time high last year, latest analysis showed today (3).

The UK emerged as the top most country to attract Indian FDI with 52 projects, ahead of the US (51) and the UAE (32), in 2018, said London & Partners (L&P), the Mayor of London's promotional agency, in the new analysis released.


Indian companies choosing to invest and expand in London reached an all-time high last year, with 32 investment projects – a giant leap from the previous year, it said.

"Foreign Direct Investment (FDI) from India into London increased by 255 per cent from 2017 to 2018. And, investment into the UK from India grew by over 100 per cent compared with the previous year, with London accounting for over 60 per cent of all Indian investment into the UK in 2018," notes the analysis, based on fDi Markets and fDi Intelligence data.

"We're delighted that a record number of Indian businesses have chosen London as a base for their international expansion and we look forward to welcoming more ambitious companies to our city," said Laura Citron, CEO of London & Partners, who will be leading a four-day trade mission to India from next week.

"Our upcoming trade mission will provide a great opportunity for us to explore how London can increase collaboration with some of India's leading business hubs in areas such as fintech and enterprise technology," she said.

The L&P's trade delegation, comprising some of London's fastest growing fintech and enterprise tech companies, will cover Mumbai, Bengaluru, and Chennai as part of the Mayor of London's International Business Programme.

"India and London share strengths in financial services and technology, making India a natural market for our international growth," said Emma Steeley, CEO of AccountScore, one of the companies participating in the trade mission next week.

Nadia Sood, founder and CEO of Credit Enable, another participating company, added: "India is bubbling over with opportunity, promise and above all, entrepreneurial talent.

While in India, Credit Enable will be announcing the launch of a pan-Indian initiative called the Changemakers Programme together with its partner CAIT, the Confederation of All India Traders. The programme is pegged as the largest mobilisation initiative ever attempted to help secure affordable credit for small and medium enterprises (SMEs).

Some of the other London businesses travelling to India include McLEAR, a wearable technology company specialising in mobile payments; GrantTree, which offers funding expertise; Headstart, with recruitment and employability expertise; and ProtectBox, with cybersecurity specialisations.

They will meet with investors, Indian business leaders and policymakers as they explore opportunities for growth in the Indian market.

"As one of the world's fastest growing economies, we see lots of opportunities for London companies to do business in India, especially in sectors such as technology and financial services where we have shared strengths," noted L&P's Laura Citron.

According to the latest data, over the past 10 years, Indian companies have added £2.49 billion in capital expenditure and created over 5,691 new jobs for London's economy.

Some of India's fastest growing companies have also announced investments in the British capital in 2018, including taxi hailing firm Ola and more recently Indian hospitality firm OYO.

As well as running international trade missions to India, the Mayor of London's business promotion arm plans to host a delegation of Indian businesses in London to coincide with the 2019 Cricket World Cup finals in June.

More For You

OpenAI Restricts ChatGPT’s Image Feature After Viral Ghibli Trend

Altman addressed the impact of the popular Ghibli-style image trend on OpenAI’s resources

Getty

OpenAI limits ChatGPT’s image generation feature amid viral Ghibli image trend

OpenAI CEO Sam Altman has announced temporary limitations on the company’s image generation feature in response to overwhelming demand driven by a viral trend. On Thursday, Altman addressed the impact of the popular Ghibli-style image trend on OpenAI’s resources, particularly its reliance on GPUs (graphics processing units). Altman revealed that the surge in demand for ChatGPT’s image generation tool has led to significant strain on the company’s infrastructure, prompting the introduction of temporary speed limits for users.

In a post on X (formerly Twitter), Altman shared the company’s response to the unexpected demand, stating, “It’s super fun seeing people love images in ChatGPT, but our GPUs are melting. We are going to temporarily introduce some rate limits while we work on making it more efficient. Hopefully won’t be long! ChatGPT free tier will get 3 generations per day soon.”

Keep ReadingShow less
UK-business-district-Getty
The Canary Wharf business district including global financial institutions in London. (Photo: Getty Images)

Economic growth in 2024 slightly higher than estimated: ONS

THE UK economy grew slightly more than first estimated in 2024, according to official data released on Friday, providing a small boost for the government after it revised down its growth forecast for 2025.

The Office for National Statistics (ONS) said gross domestic product expanded by 1.1 per cent in 2024, up from an initial estimate of 0.9 per cent.

Keep ReadingShow less
Sri Lanka posts five per cent GDP growth as it ends years of economic decline

Sri Lanka's president Anura Kumara Dissanayake

Sri Lanka posts five per cent GDP growth as it ends years of economic decline

CASH-STRAPPED Sri Lanka’s economy grew by five per cent in 2024, marking the first full year of expansion since its unprecedented meltdown in 2022, official data showed last Tuesday (18).

The last quarter of 2024 saw the economy expand by 5.4 per cent, bringing the full calendar year’s GDP growth to five per cent, compared to a contraction of 2.3 per cent in 2023.

Keep ReadingShow less
Donald Trump

Speaking from the Oval Office, Trump said, 'What we’re going to be doing is a 25 per cent tariff on all cars that are not made in the US.'

Getty Images

Trump imposes 25 per cent tariffs on foreign-built cars

US president Donald Trump has announced a 25 per cent tariff on imported cars and auto parts, escalating trade tensions with key partners.

The new duties take effect on 3 April and apply to foreign-made cars and light trucks, with additional levies on key auto parts set to follow within the month.

Keep ReadingShow less
Starmer-Trump-Getty

The UK is negotiating a tech-focused trade deal with the US, which could help avoid direct tariff impacts.

Getty Images

UK economy faces pressure from Trump’s tariff threats

THE UK’s economy faces a major risk from US president Donald Trump’s proposed tariffs, the country’s fiscal watchdog warned on Wednesday, citing slow growth and a high debt burden as key vulnerabilities.

Chancellor Rachel Reeves announced cuts to the welfare budget and other spending reductions to meet a key fiscal target aimed at reassuring investors after the 2022 market turmoil under former prime minister Liz Truss.

Keep ReadingShow less