Wednesday, March 22, 2023

Germany: Indian-origin deputy mayor of London leads trade mission in Delhi, Bengaluru – Usky News

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LONDON: London’s India-born Deputy Mayor for Business, Rajesh Agarwal, will arrive in New Delhi on Monday as the head of a four-day trade mission made up of 10 of the city’s leading technology companies to promote stronger trade and investment links. with India.
Agarwal, who was born in Indore, is an entrepreneur at London-based fintech firms RationalFx and Xendpay and works with London Mayor Sadiq Khan’s team to promote the city’s attractiveness as a global investment hub.
The latest India visit marks the first in-person trade mission run by the Mayor’s International Business Programme, which is designed to help London companies grow internationally, since 2019.
“Indian cities see London as the perfect launchpad to grow their business internationally,” Agarwal said on the eve of his visit.
“London and cities such as Mumbai and Bengaluru share mutual strengths in sectors such as finance, life sciences and technology – creating huge opportunities for business partnerships. As one of the world’s fastest growing economies, India is aspiring London It is also a key market for companies. I am delighted to be joined by some of London’s fastest growing businesses on their journey to India,” he added.
“Our trade mission will continue its work to help London-based companies maximize trade and investment opportunities in India,” he added.
The UK capital has been ranked as one of the top cities globally for Indian companies looking to expand their footprint internationally, according to data published by London-based business development agency, London & Partners (L&P). want to develop and is the number one European city for Indian Foreign Direct Investment (FDI). ,
According to Related FDI Market Research, over the last 10 years, London has attracted 174 investment projects from India – more than any other European city and significantly more than Singapore (150) and New York (53).
“London and India have long enjoyed cultural and economic links and these latest figures provide further evidence that the trade links between our two regions continue to grow from strength to strength,” Agarwal said.
Over the past 10 years, investment by Indian companies has given a major boost to London’s economy, the Mayor’s office said, with data showing that Indian FDI has created an additional 7,853 jobs in the UK capital.
Several well-known Indian companies have expanded their operations in London in recent years, including Indian IT giants Wipro and Infosys as well as Indian unicorns UpGrad, Ola and Oyo.
Between 2012-2022, Mumbai and Bengaluru were the top cities for business investment from India in London.
India is an important trade and investment market for London. It’s no surprise to see that London is one of the top global cities for Indian companies looking to expand outside their home market,” said Laura Citron, CEO of London & Partners.
“We keep getting a lot of inquiries from Indian companies looking to setup and expand in London. As India’s digital economy continues to grow, there is particular interest in London from high-growth Indian companies in areas such as fintech, e-commerce and climate tech. This trade mission will further strengthen economic ties between London, New Delhi and Bengaluru. We look forward to continuing our support to help companies doing business in both regions,” she said.
Companies participating in next week’s trade mission include: Electric Miles, Expect, Global Nano Network, Guider, Habitat Learn, Invya Ventures, Maclear, OneID, Shojin Properties Ltd and Softools.
The delegates will meet representatives of Indian tech companies including Wipro and HCL Tech, as well as Indian industrial giant Tata. The mayor’s office said the deputy mayor would also meet Indian venture capitalists and investors interested in expanding in London.
Vipul Lakhani, Director, Softools, said: “I am excited that Softools has been selected as one of the participants of the Mayor’s India International Business Program Business Mission.
“We see India as a thriving and exciting market with rich talent, amazing innovation and huge potential. With the help and support of London and partners, we look forward to helping Indian companies benefit from the speed and simplicity of our zero code application platform. Looking forward to partnering to help.
The Mayor of London’s International Business Program claims to have helped over 1,000 high-growth London companies win business in international markets.


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