• Friday, February 23, 2024

Business

London retains appeal among Indian tech investors

LONDON, ENGLAND – NOVEMBER 20: A view over the City of London skyline including the ‘Square Mile’ on November 20, 2023 in London, United Kingdom. (Photo by Dan Kitwood/Getty Images)

By: Eastern Eye

INDIA emerged as a “key market” for technology investments into London this year, according to the city’s business growth agency.

In an analysis released last week, London & Partners said among the 100 foreign direct investment (FDI) projects for the year, India leads with a 29 per cent share of inward investment.

Climate tech saw significant growth, with investment from Road Metrics – an artificial intelligence (AI) software mobility company from Bengaluru.

“India emerges as a key market…among the 100 FDI projects won by London & Partners, India leads with a 29 per cent share of inward investment into the capital, followed by Europe (24 per cent), and North America (23 per cent),” London & Partners said. “One sector that has witnessed significant growth is climate tech, which now makes up 23 per cent of FDI into the capital… and has led to the creation of nearly 1,000 jobs, a three-fold increase.”

The analysis found an additional 278 separate firms have set up in London this year, a development which it said reaffirms London’s position as the leading European and the third top global destination for FDI, behind Dubai and Singapore.

“London & Partners teams around the world are the city’s talent scouts, identifying the most exciting international businesses… who will ultimately drive and deliver future growth for London,” said Laura Citron, CEO of London & Partners.

“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,” added the London mayor, Sadiq Khan.

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