The Mayor of London Ken Livingstone is to visit India from 18-23 November 2007 to promote closer ties between the capital and India in business, tourism, education and the creative industries. The growth of the Indian economy is already having a direct impact on London. According to Think London, the capital’s foreign direct investment agency, India already has the second largest number of foreign direct investment projects to London after the US. In 2005/06 India accounted for 18 per cent of all foreign direct investment projects, an increase of six per cent over the same period in 2000/01.

Ken Livingstone said: “India is a rising economic superpower. It has a growth rate of over nine per cent a year, 1.2 billion people and it already accounts for the second highest number of inward investment projects into London after the US. Last year, India was one of the three countries accounting for the majority of world economic growth.

The Mayor will take part in a series of meetings, seminars and conferences on the theme of 'London and India: Partners in Globalisation'. The delegation will include Lord Sebastian Coe and Paul Deighton, Chairman and Chief Executive of London 2012 Organising Committee; Peter Hendy, Commissioner for Transport for London; Michael Charlton, Chief Executive of Think London; James Bidwell, Chief Executive of Visit London; and Adrian Wootton, Chief Executive of Film London.

The Mayor Ken Livingstone said: “The Indian community is already the largest minority ethnic community in London and London’s strength as the most globalised city is helped immensely by its Indian community - there are already 10,000 Indian-owned businesses in the capital. Cultural interaction between India and London is already strong and is going to increase even further.

“The aim of this visit is to continue to build on and reinforce these links to strengthen a deep rooted and special relationship between London and India. “

The UK capital has become a gateway to Europe for Indian companies, and many businesses have chosen the UK capital city for their European and UK offices. Over the past three years, Think London assisted over 50 Indian companies to set up in London, this included companies like WIPRO, ICICI Bank and Punjab National Bank. Twenty seven companies incorporated in India are listed on the London Stock Exchange (LSE) with a collective market value of UK£4.4 billion. This is more than the market capitalisation of all Indian companies on both NASDAQ and the New York Stock Exchange combined.

Indian tourism has also grown significantly in recent years, from around two million Indians travelling to other parts of the world in 1991 to five million in 2004. In 2006, 230,000 Indians came to London up from 166,000 in 2005. For the first time in 2006 Indian visitors spent more than those from Japan (£152 million by Indian visitors compared to £134 million by those from Japan).

The education sector is also important to London’s economy with overseas students in London contributing approximately £1.5 billion to UK GDP in 2005/06, with India representing one of the fastest growing student markets in the world. In London the number of students from India has increased from 2,190 in 2001 to 4,320 in 2005 making the growth of Indian students second only to the Chinese.

The Mayor’s visit will also build on the cultural links between London and India that exist thanks to London’s significant and important Indian community and highlighted this summer during the India Now festival in London.

The delegation of London ‘ambassadors’ includes a cross section of its talent from business, creative industries, sport, culture, tourism, education and science. They include Christopher Rees, Partner and Co- Head of the TMT Group, Peter Kenyon, Chief Executive of Chelsea Football Club and Graeme Le Saux, Former Chelsea Football Club and England international player; Jitesh Gadhia, Managing Director, ABN AMRO; Phillip Bouverat, Director of Major Accounts, JCB; Wally Olins, Chairman, Saffron Brand Consultants; Raj Loomba, Chairman, Rinku Group Plc and The Loomba Trust; Lord Desai, London School of Economics; Prof Peter Jenner; Kings College, London; and TV presenter and singer Myleene Klass.

The Mayor’s trip will involve visits to Delhi and Mumbai and includes:

• Signing a city to city partnership agreement with the Chief Minister of Delhi.
• Signing a tourism agreement in Delhi.
• Speaking at a number of conferences including Planet Cities: A Sustainability Exchange, with Nobel Prize winner Dr Rajendra K Pachauri; Host Cities: Unlocking Business Opportunities through sporting events; a seminar on Building Global Cities in Mumbai with the Maharastra state authorities and speaking at Think London seminars for Indian businesses.
• Meetings with key Indian businesses including Tata, ICICI Bank, BCCI and the CII.
• Hosting education seminars exploring stem cell research and the implications of international flows of financial capital for India’s economy.
• Signing a film agreement between Film London and the Film and Television Guild of India.
• Hosting a showcase of London and Indian creative industries with special guest Amitabh Bachchan - one of India's most renowned screen idols.
• · Opening two offices - The London India Office - Delhi and The London India Office - Mumbai, to promote business, trade, culture and tourism between London and India.

The Mayor will also be visiting Amritsar to meet the Chief Minister of the Punjab.

FACTS & FIGURES ABOUT INDIA

Business

• India has the world second most rapidly growing major economy. Growth last year was 9.2%.
• India already accounts for the second highest number of inward investment projects into London after the US.
• There are approximately 10,000 Indian-owned businesses in London employing 49,000 people.
• India’s overseas investment in Europe has multiplied ten times in the past eight years, London accounts for just over 32 per cent of all European investment from India.
• Almost half of all London-based Indian businesses that came to London operate in the software industry, with the second-biggest grouping represented by financial and business services.

(Source: Think London)

Tourism

• In 2006 visitors to London from India spent more than those from Japan for the first time. Indian visitors spent £152 million last year, up from £107 million a year earlier. Compared to this, Japanese visitors spent a total of £134 million in 2006.
• India is in London’s top 20 inbound markets with 230,000 visits from India in 2006, up from 166,000 in 2005.
• Flight numbers have increased 38% in the last six years with flight routes from India to London being the country’s busiest, with approximately 130 flights a week to and from seven Indian cities.
• According to World Travel and Tourism Council, India is now poised to be the 2nd fastest growing (8.8%) tourism economy in the world 2005-14
• The Indian Government is making strong investments of + $10 billion US in infrastructure – especially airports and tourism infrastructure
• The peak travel times for Indian visits to the UK are April-June/July-Sept
• VFR (visiting friends and family) accounts for 38% of all visits, Business 32% and Holiday 21%
• UK visa service boasts the shortest time to taken to get a visa (24 hrs).
• 50% of Indians look, book and travel within 2 weeks.

(Source: Visit London)

Academic

• It is estimated that London’s international student population contribute approximately £1.5 billion to UK GDP (in the 2005/6 academic year).
• Indian student numbers in London have doubled in the last five years from 2,190 in 2001 to 4,320 in 2005. It is estimated that India students contribute £60 million to London’s economy (in the 2005/6 academic year).
• The leading course choices for Indian students are in Business and Administrative (32 per cent), followed by Computer Science (18 per cent) and Engineering and Technology (16 percent).
• India represents a large potential student market for London, especially for postgraduate students with 75 percent of Indian students studying postgraduate degrees (MScs and PhDs). There are also a growing number of collaborative programmes between Indian and London universities.

(Source: London Higher)

Film

• · It is estimated that Indian productions are worth $28m annually to London.
• · In 2006, over 40 Indian productions filmed in the capital.
• · The three largest multiplex chains (Odeon, Vue Cinemas and Cineworld) routinely screen Hindi films that appear in the UK’s top 15 film lists.
• · There are several cinemas in London dedicated to screening Indian films including the Himalaya Palace, Southall; Safarai Cinema, Harrow; Belle-Vue Cinema, Willesden Green; and the Boleyn Cinema, Upton Park.
• · Hindi film title Kabhi Alvida Na Kehna (2006) was the third highest grossing foreign language film at the UK Box Office in 2006.
• · 2. 6 million visits to Hindi films in the UK last year made Hindi films the most popular foreign language film; with Indian films accounting for 16% of all UK releases in total, taking £12.4m at the UK box office.

(Sources: Asianfilms.org; Variety International Film Guide; Reuters; PricewaterhouseCoopers)