India in the month of July 2013 has come into view as the second largest investor in the city of London with Indian companies led by software major Infosys encouraged by the investment fervour generated by the 2012 Olympic Games in the British capital.
Software services firm Infosys leads the charge of inner foreign direct investment (FDI) made by a total of 28 Indian companies, which has created 429 additional jobs for the British economy in the in year 2012 alone.
India is a very important market for London and Olympics has provided the perfect opportunity for Indians to come and experience London and resulted in more Indian companies setting up in London.
India has seen exceptional growth and there are a large number of areas of common interest, such as transport and city planning, where India and United Kingdom are planning to work together.
India brought in a large amount of the 2.5 billion pounds additional foreign investment into the UK since the Games and Indian FDI projects in 2012-13 are estimated to generate 24 million Pounds in gross value added for London’s economy over the next three years.
Information and communications technology (ICT) was the key sector in terms of Indian FDI into London, which is followed by financial services and retail. In the financial services sector, Axis Bank stood out for setting up its global operations in London as a direct consequence of discussions during the mayoral visit to India in November 2012.