Our mutual strengths in know-how and innovation have led to a number of of India’s most profitable firms selecting London as town to scale their enterprise. For instance, final yr, we noticed Indian ride-sharing unicorn Ola announce its London launch and IT big Infosys open its first design and innovation studio within the coronary heart of town’s tech hub.
With the fast development of the startup ecosystem in cities resembling Bengaluru, New Delhi, and Hyderabad, we’ve seen a rise in high-flying Indian tech firms trying to London as an amazing choice to scale shortly. In accordance with the 2019 India Meets Britain Tracker report from Grant Thornton, London continues to be the popular location for greater than half (53 %) of the 62 quickest rising Indian firms.
In reality, since opening its design and innovation studio in UK’s capital, India’s IT big Infosys has made London much more enticing to Indian companies, which discover town a protected haven that may assist their flourishing concepts survive and thrive in a dynamic and aggressive enterprise surroundings.
Final yr, London attracted tech funding of $9.7 billion, changing into the undisputed tech capital. From being referred to as the popular vacation spot for journey and schooling for many Indians, we’re seeing an fascinating shift amongst Indian tech entrepreneurs who are actually taking a look at London as a profitable hub for organising new companies in addition to for reaching out to a bigger international client base.
So why do Indian tech firms hold trying to London as a launchpad to entry Europe and past?
Entry to capital is a significant draw. As a worldwide monetary centre, London gives extra enterprise capital funding than some other European metropolis, beneficial R&D tax credit and one of many world’s best company tax charges, making it a high vacation spot for Indian firms trying to develop exponentially.
With its progressive mindset and world-class experience in tech, finance, authorized, and inventive sectors, London is continually innovating. This gives a panorama for formidable worldwide firms to succeed resembling Indian unicorn Oyo, which expanded to London had have grown throughout the UK and additional afield quickly.
Alongside its vibrant ecosystem and entry to capital, Indian firms additionally profit from London’s beneficial time zone which spans Asia and North America and permits firms to do enterprise all around the world in the identical day. London’s sturdy connectivity makes it properly suited as a launchpad for firms to develop to the remainder of Europe, and past.
Extra particularly, we’re seeing London rising because the pure dwelling for fintech entrepreneurs due to the various experiences they will pack into sooner or later. They’ll meet the regulator within the morning, have lunch with a worldwide financial institution, rent a high engineer within the afternoon, and luxuriate in world-class tradition within the night. That convergence is fairly distinctive, I believe.
It’s no shock then that, once more, London has taken the highest spot in 2019 having sealed a complete of 114 fintech funding offers on a worldwide stage, beating New York, San Francisco, Beijing, and Singapore.
Over the subsequent few years we hope that the collaboration between India and London will proceed to go from power to power, and we stay up for serving to extra Indian companies and entrepreneurs develop their enterprise within the UK capital and past.
(Disclaimer: The views and opinions expressed on this article are these of the writer and don’t essentially mirror the views of YourStory.)