It is India Now in London

It's been raining with occasional snowing in London over the past few days even though Spring has just set in. But the world's premier financial capital isn't sparing any efforts to offer India a long and glorious summer ahead.

The tone is set by Mayor Ken Livingstone. Sitting in his majestic office overseeing the London Bridge, the Mayor says: "Indians must see our city as their second home. My message to Indians is don't only invest here; bring your culture, your religion; just be yourself."

If the Empire is wooing the Raj like never before, the heart has little role to play. London just can't stop drooling over the bulging purses of the Indians. Here's why. Indian companies accounted for 18 per cent of all foreign direct investments in London during 2005-6, making the country the second largest investor after the US in the British capital. T

hink London, the FDI agency, estimates that Indian investments will contribute over $60 million to the London economy in 2006-7. And this figure doesn't include merger and acquisition deals.

There are now twice as many Indian companies listed on the London Stock Exchange than on New York and Nasdaq combined. The city's growing overseas business community now consists of more than 160 multinational Indian companies.

In total, there are over 10,000 Indian-owned businesses in London employing 49,000 people and together, they generate a combined turnover of $15 billion and represent 5 per cent of the city's economy.

Livingstone is shrewd enough to sense which way the wind is blowing. "London is willing to sell anything and we know India has the capacity to buy," he says. The Mayor means business and has planned a number of initiatives.

The first is to set up two mayor offices in Delhi and Mumbai. The second initiative is the two India trips that he and the Lord Mayor of the Square Mile (the business district of the city) are planning this year.

The third initiative comes from London Unlimited, which has been set up for promoting Brand London to key emerging markets like China and India. The agency is organising a three month `India Now' season to celebrate Indian culture in the capital.

Since business can't be far behind,London Unlimited has also drawn up a theme called `India, London "� Partners in Globalisation.' Deborah Hale, director of London Unlimited, says her brief is clear: Indians must get hooked to Brand London.

The Square Mile is indeed trying to be as close as possible to its fast-growing world-class partner.