Latest news with #HeminBharucha
New Indian Express
26-06-2025
- Business
- New Indian Express
London targets TN start-ups in push to deepen UK, India ties
CHENNAI: As the UK sharpens its pitch to Indian businesses in the wake of the India-UK Free Trade Agreement, the city of London is organising roadshows in Tamil Nadu, primarily targeting the state's SaaS and the emerging deep tech and startup ecosystem. Hemin Bharucha, chief representative of the mayor of London and regional director - India and Middle East for London & Partners - the city's official business growth agency - is leading a roadshow in Coimbatore, Chennai and Madurai this week. 'Chennai is already known as the SaaS Capital of India,' Bharucha told TNIE. 'There is a strong base in AI/ML, Deeptech, VFX, gaming, and clean energy-sectors where London can offer both capital and market access.' 'With a highly skilled talent base, cost advantages and rising global ambition, Tamil Nadu's tech firms are well placed to leverage London as their next scale-up destination,' he said, describing the state as one of India's fastest growing innovation hubs. In 2023 alone, 31 Indian companies set up shop in the British capital, followed by 23 in 2024, and 12 more in the first quarter of the new financial year.
Time of India
23-06-2025
- Business
- Time of India
‘Coimbatore is a rapidly emerging digital, industrial innovation cluster'
Coimbatore: Coimbatore has potential entrepreneurs and incubation centres, unlike cities like Bengaluru which have almost reached the saturation point, said an official of London & Partners. "Coimbatore is recognized as a rapidly emerging digital and industrial innovation cluster, particularly strong in SaaS and manufacturing-tech," Hemin Bharucha, chief representative, Mayor of London & regional director - India & Middle East London and Partners, told TOI. Hemin added that India had shown drastic growth by becoming the largest foreign direct investor in London surpassing the US, China and Europe. As many as 31 new Indian companies were established in London in 2023, followed by 23 in 2024, and nine companies have already been set up in just the first two months of this new financial year. "It has held the top position for the last three years. Most of the London investors look for stability, which is naturally present in the country. The primary development happens here but sales, marketing, research and development and final execution take place in London. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Your Finger Shape Says a Lot About Your Personality, Read Now Tips and Tricks Undo According to various study reports, for every single employment created in London, six new jobs are created in India, which is a win-win for both countries," he added. Underscoring their intention for Tamil Nadu, especially Coimbatore, he said, "We helped five public registered creative technologies (including VFX, Gaming, and Animation), set up their firm in London of which three were from Tamil Nadu. As India's second-largest economy and one of its fastest-growing innovation hubs, Tamil Nadu's startup ecosystem is currently valued at $28 billion and is growing at an impressive rate of 23% annually," he said Hemin was in the city to promote UK-based trade. Following the recently concluded UK-India Free Trade Agreement (FTA), a three-day roadshow has been planned in Coimbatore, Chennai, and Madurai, targeting the high-growth sectors for collaboration.
Time of India
23-06-2025
- Business
- Time of India
London emerging as top global destination for Indian tech startups from tier two cities
Live Events Indian entrepreneurs from tier two cities like Chandigarh, Kochi, and Coimbatore, among others, are increasingly tapping the UK as a prominent destination for tech talent and raising venture just the first two months of the new financial year, nine Indian firms have already set up base in London, following 23 in 2024 and 31 in 2023, according to London & Partners, a public-private international trade body. Meanwhile, fresh investments by existing Indian companies like Paytm Mphasis , and WNS are also fuelling the tech ecosystem in the UK capital.'London's appeal as a premier destination for Indian tech companies is driven by three key factors: access to customers, talent, and funding,' Hemin Bharucha, chief representative, Mayor of London, and regional director - India & Middle East, London & Partners – a public-private trade body, told ET. 'India has now been London's top source of investment for three years in a row.'He added that even entrepreneurs from tier two cities like Kochi, Chandigarh, and Coimbatore are increasingly investing in London, seeking access to venture capital and top 2023, Indian firms accounted for 29% of all inward investment projects in the city—more than any other country, data showed. Over the past decade, these companies have generated over 7,800 jobs in London mid-sized IT services leader, Mphasis, announced the opening of its Innovation Centre in London to focus on advanced technologies such as quantum computing , quantum cryptography, and AI. It is a part of Mphasis' broader expansion in the UK, a market where it already serves around 60 clients, primarily in the financial services sector.'For Mphasis, London presents a truly compelling advantage as a vibrant innovation hub,' said Ashish Devalekar, executive vice president and head of Europe, Mphasis. 'Its unique combination of world-class talent, a forward-thinking regulatory environment, and strategic access to both European and global markets made it the ideal location for our innovation hub.'Mphasis plans to double its UK workforce over the next three years, it said in September last enterprise IT services provider BCT Consulting said it is targeting a revenue of £100 million over the next decade from the region. The company, which is present in 20 countries, plans to establish a centre of excellence (CoE) in London and create over 300 jobs.'As a global company driven by innovation, expanding into the UK, particularly London, was a natural step for us,' said Sundar Padmanaban, executive vice president - UKI & Europe, BCT Group. 'From healthcare to financial services, we see London not just as a growth market but as a hub for co-creating future-ready solutions with our clients,' he Thornton's 2024 report revealed a record 971 Indian-owned businesses now operate in the UK, including 505 in London. The Technology, Media, and Telecom (TMT) sector leads the charge, with these companies collectively employing 118,430 people across the UK and generating £68.09 billion in revenue, up from £50.5 billion the year recently signed India-UK Free Trade Agreement (FTA) is expected to further accelerate cross-border investment and innovation. 'The FTA is a landmark moment, it reduces tariffs, facilitates talent movement, and expands market access,' Bharucha India-UK tech corridor is poised to emerge as a global model for collaboration, one that drives innovation and creates high-value jobs, he added.
