The Mayor of London, Sadiq Khan, has announced he will visit five major European cities next month to declare that London remains the number-one destination for investment, business and tourism, and to discuss London’s needs from the Brexit negotiations. He will be accompanied by his Deputy Mayor for Business, Rajesh Agrawal. He is also expected to make a trip to India, in the coming months, to secure better relationship between London and the country, and to establish a fresh link after Brexit.
Khan made appearance at the London Transport museum, celebrating the successes of London’s fast-growing companies. The exclusive event also marked the achievements of the companies and entrepreneurs enrolled on the Mayor's International Business Programme (MIBP).
The Deputy Mayor for Business, spoke about the importance of supporting London businesses in a post-Brexit context and London’s relationship with Europe.
The Mayor and Deputy Mayor gave away a few awards, to the winners of the programme which included companies such as Network Locum (highest growth), Onfido (Highest investment secured), Future Learn (highest no of jobs) and Emma Sinclair MBE (MIBP Ambassador).
Present among the guests were companies that were looking to do business with India, including one associated with the Clean India project. Sandra Sassow, CEO and Founder of SEaB energy clarified that they are planning to work closely with India, in providing technology to convert waste products into a source of energy.
Relationship with major EU towns
Shortly after the Government is expected to trigger Article 50 and begin formal negotiations with the EU, the Mayor will visit Berlin, Brussels, Paris, Madrid and Warsaw over six days in March to strengthen the historic economic, business and cultural ties London shares with its European neighbours.
Sadiq will use the trip to make it clear that London continues to welcome people from across the world to work, study or visit. His 'London Is Open' programme is expected to include meetings with senior politicians, city leaders and business leaders.
Talks are expected to cover London’s needs from the Brexit negotiations and key issues that the capitals have in common with London, including air quality, the night-time economy and the need for greater social integration. There will also be discussions of the importance of joint security work in the aftermath of Brexit, to help keep London and Europe safe from terrorist attacks.
The Mayor of London told Asian Voice: “I want to take the message directly to Europe that London will always remain open to engaging, trading and doing business with our friends across Europe. Our connections on the continent are more important than ever before and, regardless of Brexit, we will continue to work closely together for our mutual benefit.
“I promised to be the most pro-business Mayor this city has ever seen and it is vital that we demonstrate to our partners overseas that despite Brexit we remain open to business, investment, talent and ideas. London will remain the best place in the world to do business and our collaboration with other major European cities will not cease.”
Representatives of companies that have participated in the Mayor’s International Business Programme – an initiative to help London-based companies with growth and export opportunities overseas, will accompany the Mayor to Berlin, Paris and Madrid. Sadiq will help some of London’s fastest-growing businesses from the life sciences, technology and urban sectors to drum up new trade opportunities.
Last September the Mayor led a trade delegation of 30 fast-growing companies to the United States to strengthen business links between London, Chicago and New York. The start-ups accompanying the Mayor met with investors, business leaders and entrepreneurs, generating investment and trade opportunities for London.
As a direct consequence of the visit several of those companies are now negotiating deals with major US clients and one London business has already doubled its US revenue following the trip.
Indian investments in the UK
Indian companies are the second biggest investors into London, according to data provided by London & Partners, the Mayor of London’s promotional company, initially started by Boris Johnson. In the last ten years, London has attracted more foreign direct investment from India than Japan and China and second only to the United States. India is also a leading trading partner for London and a significant market for London based businesses looking to expand into Asia, with the value of London exports to India amounting to £1.29bn in 2014.
From the beginning of 2005 to the end of 2015 there was a 117 per cent increase in investment from India into London across all business sectors. During that time London & Partners has helped some of India’s largest companies to setup and expand in London including HCL Technologies, Tata ELXSI and Infotech Enterprises. London’s booming tech sector is particularly attractive for Indian investors, with a 133 per cent increase in tech companies investing in the city, accounting for 46 per cent of all projects.
To further strengthen business links between London and India, London & Partners opened applications for India Emerging 20 (IE20) initiative, a programme to discover some of India’s most innovative and high growth companies with global aspirations. The applications for the second round was launched in October 2016 and still open.
Last year’s competition saw over 10 times as many applications as places from companies all over India and across the life sciences, technology and professional services sectors. The final twenty companies selected for the programme will be given the opportunity to come to London to meet and learn from senior business leaders, venture capital investors and decision makers from major global companies.
Since being chosen for last year’s programme a number of companies have attracted investment and expanded into London including Teabox, Kyazoonga and Seclore which have all received venture capital funding and data analytics company LatentView which recently opened an office in London.
Photo courtesy: London and Partners
