Twenty of India’s fastest growing companies have been recognised by the Mayor of London Sadiq Khan, receiving a prestigious award to join the Mayor’s India Emerging 20 (IE20) business programme.
The winners were selected from regions across India and represent some of country’s most innovative, high growth businesses specialising in technology, life sciences and business services.
The twenty winners were chosen from over 300 applications from some of India’s leading business hubs such as Mumbai, Bengaluru and New Delhi. The India Emerging 20 programme was launched by the Mayor of London’s official promotional agency, London & Partners, in collaboration with BDO and Lalit Hotels, with the aim to identify some of India’s most ambitious companies that are considering international expansion.Meet 20 Indian companies selected for Mayor of London’s IE20 business programme. @londonpartners @RajeshAgrawal @SadiqKhan @UKinIndia Click To Tweet
The companies selected to join this year’s programme will receive help in setting up or expanding their business in London. The winners will also have the opportunity to benefit from discounted rates on a London office and tailored expert advice on marketing, access to finance and local market analysis.
London is a leading destination for Indian companies looking to expand globally, with latest investment figures from London & Partners revealing that Indian businesses are the third largest investors into the UK capital, behind the China and the United States1.
Last December, the Mayor of London Sadiq Khan visited India on a trade mission to strengthen business links with London. During his visit he announced a number of Indian investment deals for London, including 400 new tech jobs for the capital. He also revealed plans to open a new Bengaluru office for his promotional agency, London & Partners, to provide further support for Indian businesses looking to expand in London.
The Mayor of London Sadiq Khan said: “London has strong cultural and economic ties with India, and Indian businesses make an important contribution to our city. Following my visit to India last year, I see lots of opportunities to strengthen investment between London and Indian cities.
“London is a truly global business centre and presents lots of opportunities for Indian companies looking to expand their business overseas. I am delighted that my India Emerging 20 programme is helping some of India’s fastest growing companies with their international growth and London remains open to investment, talent and collaborations with India.”
Rajesh Agrawal, Deputy Mayor for Business, added: “London is the best city in the world in which to grow a business, so I am delighted that these exciting companies will now be able to explore opportunities to expand here in the capital.
“It is now 16 years since I moved from India to London. This great city welcomed me with open arms and thanks to its entrepreneurial spirit helped me to launch two successful businesses. It is great news that these 20 companies will now be able to experience the same welcoming business environment that I enjoyed.”
Further analysis of London & Partners investment data shows that 2017 was a record year for foreign direct investment from India into London1. Indian technology companies such as Wipro and Infosys have shown a strong appetite for London over the last ten years, accounting for over half of all businesses investing in the capital.
Entering its third year, the IE20 programme has helped a number of previous winner’s setup or expand in London. Indian medical technology company, RX Prism, opened a £2 million innovation hub in London, while Chennai-based analytics firm LatentView and Curadev Pharma have also expanded their operations in London since their involvement with the IE20 initiative.
Full list of Indian companies selected as 2018 winners for IE20 programme:
- Appnomic Systems
- BlackPepper Technologies
- Chai Point (Mountain Trail Foods)
- Intello Labs
- Ittisa Digital Media Services
- Chakr Innovation
- Dineout / inResto
- Fork Media
- Lucideus Tech
- Videonetics Technology
- Wigzo Technologies
- Hug Innovations
- FSM Education
- Gaia Smart Cities
- Iksula Services
Vani Kola, Managing Director of Kalaari Capital said: “India is producing an increasing number of high growth, scalable companies. Cities such as Bengaluru and Mumbai have developed clusters of start-ups with a strong culture of creativity and innovation that is similar to that of London. The twenty winners part of this year’s IE20 programme demonstrate the strength of India’s entrepreneurial mindset and the growing strengths in areas such as technology and life sciences.”
British Deputy High Commissioner in Bengaluru, Dominic McAllister, added: “IE20 is an important element of the UK-India Technology-Partnership which was agreed by our two Prime ministers in April and formally launched in India last week by Digital and Culture Secretary, Matt Hancock. The UK and India are global leaders in technology and two of the world’s most innovative countries.
The new UK-India Tech Partnership will be testimony to that. A pilot soon to be launched In Karnataka will focus on augmented and virtual reality, advanced materials and artificial intelligence – technologies which a number of our winners today are already deploying.
The Partnership will seek to: develop a network of people and programmes to facilitate ideas; provide access routes for British and Indian entrepreneurs and SMEs to each other’s markets; and encourage broader innovation and productivity by helping businesses in the UK and India to develop closer relationships. We live in exciting times.”
Some Facts & Figures about India-London trade and investment
- India is the third largest market for foreign direct investment (FDI) into London and has almost doubled since 2011.
- Some of the top Indian companies investing into London by job numbers in the past 10 years include: Developer Group; Sobha Europe, Lodha Developers; Dr P Banerji; Jaguar Land Rover; State Bank of India
- London attracted 32% of all Indian FDI to the UK from 2007-2017
- Over one third of FDI from India originates from three cities: Mumbai, Bangalore and New Delhi
- 2017 was the highest year yet for Indian FDI projects to London
- Technology was the largest sector for foreign direct investment into London from India – accounting for 53% of all projects between Jan 2011-Sep 2017
- Life sciences and healthcare is also an important sector for inward investment from India, accounting for 7% of projects. This makes India the second largest source market for the sector, following Japan
According to the India Meets Britain Tracker 2018:
There are approximately 800 Indian companies operating in the UK, with combined revenues of £46.4 billion (£47.5 billion in 2017) and employing 104,932 people.
In 2016, imports and exports worth £15.4bn flowed between the two countries
London’s steady rise as the UK’s leading investment destination continues, with more than half of all Indian companies investing in the UK (53%) choosing the capital. This is up from 44% in 2017 and 39% in 2016. In 2015, only a quarter of Indian investors chose London.
As an IE20 winner, the companies will have access to a curated London business package, designed to make the process of setting up or expanding their business in London easy. The package could include tailored expert advice on marketing, access to finance and local market analysis.