A new London business programme to identify India's most innovative companies with global aspirations has received an overwhelming response with over 10 times applications than the number of places.
India Emerging 20 (IE20) 2016, run by London & Partners (L&P) - Mayor of London Boris Johnson's inward investment company - is designed to help Indian companies explore the options of setting up a global headquarters in London.
L&P said that over 200 applications have been received for just 20 places on the programme.
"There has been an overwhelming response from businesses who want to find out more about using London as a springboard to take their brands global. However, it is not just the number of companies but the quality, which has impressed us most.
"It is going to be one of the toughest jobs I've had in order to select which companies to come to London," said L&P chief executive Gordon Innes, who will be travelling to India next week to witness the companies pitching their ideas to get on to the IE20 programme.
"Indian Prime Minister Narendra Modi recently came to the UK to strengthen ties between the UK and India and this is what we are trying to build on. India is the fastest growing major economy in the world and Indian companies are already the second biggest foreign investors in London.
"We want to bolster those already established ties and that's why we have developed the India Emerging 20 programme to support Indian businesses looking to succeed globally," he said.
The IE20 programme is being run by L&P in partnership with British Airways, BDO, Newland Chase and UK Trade and Investment (UKTI).
The chosen Indian company representatives will be flown to London in February 2016 to help them facilitate international partnerships, alliances, business opportunities and find out about setting up a base in the British capital.
Following the pitching events, which will take place in Mumbai, Bangalore and Delhi next week, the panel comprising representatives from the various partners will whittle down the number of companies to 20.
Arbinder Chatwal, audit director at international accounting firm BDO leading their India Advisory Services Team, said: "The diversity and quality of companies aligning to the programme, shows that London and the UK are strategic focus corridors for Indian corporates looking to expand in to Europe."
During a rigorous selection procedure, the companies -- across financial and business services, technology and life sciences -- will be selected to come to London to meet and learn from senior business leaders, venture capital investors and decision makers from major global companies.
An awards ceremony is also planned in London early next year involving the shortlisted companies.
