· India contributes 29% share of FDI projects into London in 2023
· London's Business Agency Secures 100 New Tech Investments in 2023
· London's Climate Tech Projects Surge, Tripling Job Opportunities
London & Partners (L&P), the business growth and destination agency for London, has announced that among the 100 FDI projects secured, India leads with a 29% share of inward investment into the capital, followed by Europe (24%), and North America (23%).
In fact, London & Partners supported Indian investment has doubled over the last 3 years in terms of project wins jumping from £14.8m in GVA from 2022 to £30.9m in GVA in 2023.
London & Partners has worked with leading Indian companies across education, software as a service (SaaS), robotics, B2B technology, fitness, to help them set up and grow in London. Support ranges from opening a UK entity and navigating the regulatory environment, to identifying the most suitable office space, legal and financial advice, as well as facilitating introductions to London’s ecosystems, networks and partners. Companies include:
· Uniacco, a student accommodation platform,
· GOQii, a healthy technology platform,
· Miko AI, a learning and entertainment platform for children
· Urban Piper, a food delivery platform for restauranteurs
· Robosoft Technologies, a software and automated tools developer
· Aarvee Associates, a multi-disciplinary engineering company
· QBurst, a software provider
· SP Jain School of Global Management, a global business school
Laura Citron, CEO of London & Partners, said, “London & Partners teams around the world are the city's talent scouts, identifying the most exciting international businesses in key growth sectors, who will ultimately drive and deliver future growth for London. From assessing the commercial opportunity to hiring their first team to accessing clients and investors, London & Partners' expert teams help shortcut months by putting international companies directly in touch with the right people in London.”
Commenting on the increasing FDI interest from India, Hemin Bharucha, Country Director- India, London & Partners, “Of the 100 FDI in London, 29 of those being from Indian companies is reflective of the growing relationship between both countries and our deepening business ties.
We have seen considerable interest from software as a service (SaaS) companies wanting to expand to London. This not only reflects the growing global push towards DeepTech, innovation, and digital led transformation, but also how London is continuously chosen as the topmost investment destination for tech companies. This is thanks to its strong track record of offering a robust, business-friendly environment to reliably expand trade and invest in addition to a mature, high-spending consumer market and an open, liberal economy with world-class talent. We at London & Partners are excited to welcome more companies to London and geared to assist them throughout their journey.”
Also commenting on the 100th FDI win, Mayor of London, Sadiq Khan, said: “I’m delighted that London & Partners has reached this significant milestone of 100 international tech companies investing in our capital, boosting the economy and supporting local jobs. I’m committed to being London’s most pro-business Mayor ever and it’s fantastic to see the significant investment from climate technology, showcasing London’s commitment to decarbonisation and improving air quality as we continue working towards building a fairer, more prosperous London for everyone.”
Since January this year, L&P has successfully brought in 100 international tech companies. Alongside this, separate data from fDi Markets shows that so far over 320 companies have set up in the capital so far this year further reaffirming London’s position as the leading European and the third top global destination for FDI behind Dubai and Singapore.1
Additionally, London & Partners has secured notable climate tech investments in the past 11 months. Among these is Roadmetrics, an AI software mobility company from India which chose London as its UK headquarters. Recently, the company delivered its 1000th electric bus to the city, contributing to one of Europe's most extensive electric bus fleets. Additionally, London embraced award-winning Cloverly from Atlanta, recognized for its climate action technology, and Allume Energy from Australia, known for specializing in shared solar solutions for apartment complexes. London celebrated other significant climate tech investments, including Cero.org, the Thai company behind the blockchain-enabled carbon wallet, as well as BjoYD, the world's largest electric vehicle maker from China.
Mumbai, 21 December 2023
