London invites Indian Investment in IT and Hospitality Sector

London has invited Indian Investment in Information Technology Sector. London Mayor Boris Johnson, who was in Hyderabad today asked Indian companies to come to London, saying it was emerging as the city of choice for international investors.

Johnson, who is leading a business delegation on a six-day visit to India, met leading Indian technology entrepreneurs here to highlight the opportunities London offers.

He attended a business reception hosted by Infotech Enterprises, with representatives from about 20 leading technology firms.

Two IT firms announced they would open their European headquarters in London.

Nazara, a mobile games developer and publisher, and SmartPlay Technologies, India’s second largest semi-conductor design services company, would open offices in London before the end of the year.

Combined, the two companies would initially employ 40 staff and would hire another 125 employees over the next three years in the UK, said a statement from the mayor’s office.

“London is a powerhouse for entrepreneurial technology firms, which play a crucial role in driving jobs and economic growth in the capital. This commitment from Nazara and SmartPlay is yet another example of the confidence international firms have in the city, and India’s burgeoning technology and computing sectors could benefit greatly from following their lead,” said Johnson.

“London is in the right time zone and speaks the right language for global business. The city is home to a talented and dynamic workforce, which is precisely why it is emerging as the city of choice for international investors,” he added.

The technology and computing market in London already employs 100,000 people, with 19,000 students in the city signing up for information and communication technology courses each year in a market worth 115 billion pounds to the UK.

With 24,000 IT companies already based in London, the city is home to significantly more tech firms than any other European city.

Meanwhile, two Indian hotel groups have decided to invest tens of millions of pounds in London while an Indian university also plans to set up a campus with 100 million pounds.

Addressing students at the Indian School of Business (ISB), Mayor of London Boris Johnson said his visit to India has already started yielding results.

“We were able to rope in two hotel groups that will be investing tens of millions of pounds in London,” Johnson said while lauding the role of Indian companies in the development of hospitality sector in London.

The mayor said a fast-growing Indian university also has plans to invest 100 million pounds for setting up a campus of 50,000 people in London.

Johnson pointed out that London-based company Serco would be running bus service in Indore. He was referring to the agreement signed recently by Atal Indore City Transport Company Ltd. (AICTCL) with Serco as operator of the bus service on Bus Rapid Transit System (BRTS) corridor.

According to the London Mayor’s website, leading hotel operator Lalit Suri Hospitality announced that it has acquired the heritage building, St Olave’s near Tower Bridge for 15 million pounds. The group would invest another 15 million pounds in restoring and developing it into a five-star luxury hotel.

The Bird Group, one of the largest diversified business conglomerates in India, is keen to invest further to acquire new properties in London, and has created a property management company in London to deal with its own properties and those of third parties. The group had last year purchased Royal Park hotel near Hyde Park upgraded it from a four to a five-star establishment, said the website.

Highlighting the vast opportunities and inviting Indian business to invest in London, Johnson promised all the assistance.