India is the fourth-ranked destination for London technology companies looking to expand outside of the UK over the past 10 years, behind Australia, Germany and the US, according to official data released on Monday.
London & Partners, the Mayor of London’s inward investment agency, also found that while London was the top city globally for tech foreign direct investment (FDI) over the past 10 years, Bangalore emerged in sixth place as a hub for tech companies looking to expand internationally ahead of the likes of New York City, Dublin, Shanghai and Beijing, according to the data released to mark the start of London Tech Week 2019.
Between April 2009 and March 2019, Indian investments into London involved 36 projects by 22 Indian companies, with a capex of nearly 523 million pounds.
India, while ranked fourth in terms of foreign direct investment (FDI) into London, created 5,310 jobs ahead of second-ranked Germany with 1,911 jobs and third-ranked Australia with 1,526 jobs. The US was the top-ranked country with 183 projects in the past decade, creating 11,074 jobs in the UK.
(PTI)
