India Becomes Largest FDI Investor In London

2024-12-22 05:08:15 Business

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December 09, 2024 – New Foreign Direct Investment (FDI) data from London’s growth agency, London & Partners, reveals that India has become its leading source country for FDI companies, ahead of the US and China.

Over the past three years, the India office has supported 77 Indian companies in scaling their operations and establishing a presence in the UK capital. One such company is the Indian IT giant Mphasis, which opened a new London office in September and has expanded its UK presence over the past year.

Mumbai, often referred to as India’s financial hub, and Bangalore, known as the Silicon Valley of India, are key source cities of FDI, with the Southern and Western regions of India together accounting for the majority of companies expanding to London[1]. Their contributions have steadily grown over the years, with much of the investment concentrated in high-growth sectors such as financial services, enterprise software, creative, fintech, and life sciences.

London & Partners’ India office has also supported two significant trade delegations from London in the past year: The Creative Trade Delegation and the ongoing Fintech and Enterprise Trade Delegation. These missions aim to strengthen the UK capital’s trade links with India.

The Fintech and Enterprise Trade Delegation currently underway this week is connecting London-based companies, including AutogenAI, Builder.ai, Carbon Responsible, and Digiseq, with private enterprises such as banks, large tech companies, and key stakeholders, including governing bodies, in Mumbai and Bangalore.

Janet Coyle CBE, Managing Director, Grow London, London & Partners, said: “We’re bringing some of London’s most innovative fintech and enterprise companies to explore one of the world’s most dynamic markets – India. Mumbai and Bangalore are the perfect entry points into India’s rapidly evolving financial and enterprise tech sectors. This mission is a key priority for us, and I’m excited to be in-market, uncovering the incredible growth opportunities for both trade and FDI ahead.”

Hemin Bharucha, Regional Director - India and Middle East, London & Partners, added: “India is a thriving global leader in enterprise technology and financial innovation. This trade mission is a unique opportunity to strengthen ties between London and India’s rapidly advancing tech ecosystems, further solidifying our partnership as India continues to be an important investor in London.”

With India’s economic resilience and strong growth projections[2], London & Partners is actively building on this momentum to drive continued collaboration between the two nations. Through strategic support, London & Partners continues to assist Indian businesses setting up in London and London-based businesses expanding to India.

About London & Partners

London & Partners is the growth agency for London. Our mission is to create economic growth that is resilient, sustainable, and inclusive. We are a not-for-profit company and operate as a Social Enterprise, half funded by the Greater London Authority (GLA), and half from other sources including our portfolio of commercial ventures.