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Subject: Sigh, yet again the empire strikes bak, I guess persistance pays-literally
Herc the Merc    12/5/2006 6:37:41 PM
Britain launches 'Year of India' to woo business RASHMEE ROSHAN LALL [ 5 Dec, 2006 2314hrs ISTTIMES NEWS NETWORK ] LONDON: The British capital and its feisty mayor 'Red' Ken Livingstone launched on Tuesday a 'Year of India' in a self-confessedly transparent bid to tempt ever more Indian companies to test the fast-flowing waters of the London financial market by flooding in. Ahead of the Year of India launch, the mayor's director of economic and business policy John Ross told TOI that London could justifiably regard itself as markedly more attractive to Indians than its nearest competitors, New York and Paris. "New York", joked Ross, "is really just an American city with a lot of foreigners in it while Paris always tells foreign investors, 'your money is very welcome but please leave your culture at home'." Ross, who has been Livingstone's personal economic advisor for 20 years, said London stood in stark contrast to New York and Paris because it revelled in being "a global international city that wanted, even insisted, foreigners bring — and keep — their culture with them". London's aggressive targeting of Indian companies was heralded by Livingstone, who announced the launch of India's year in London at the annual Indian business reception on Tuesday night. Making a glancing reference to the British capital's boast of being "the most multicultural city in the world", Livingstone tickled the so-called 'global Indian G-spot' by adding that London was proud its single largest minority was people of Indian origin _________
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Yimmy       12/5/2006 8:13:12 PM
Perhaps it would make more sense to be more protective of our own business, and keep them from leaving for India.
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Herc the Merc    Is this true??-or Indian hype??   12/6/2006 12:49:19 PM
India second biggest investor in UK after US" width=3>Add to Clippings" width=11 border=0>" border=0> 
LONDON: Indian investors are expected to contribute 33 million pounds (approx Rs 297 crore) to London's economy in 2006-07, the foreign direct investment agency, Think London, revealed on Wednesday.

Indian capital accounted for 18 per cent of foreign capital during the current year. Since 2005, 36 Indian companies have set up office in London, voted the top European city to locate a business this year.

India has become the second biggest investor in London after the United States, said the latest edition of the European Cities Monitor.

"London attracts over half of all Indian investment into Europe and provides Indian businesses with a gateway to the continent," said Michael Charlton, chief executive of Think London.

According to a study last year, Indian companies spent 228 million pounds buying British businesses, with the value of the average takeover rising to 28.5 million pounds compared with just six million pounds the year before.

Some of the biggest recent bids and acquisitions by Indian companies are Tata Group's offer of 4.3 billion pounds for Corus, Tetley Tea bought by the Tata Group for 270 million pounds in 2000, Apeejay International's takeover of Typhoo for 80 million pounds from Premier Foods, Tata take over of Tyco Global Network for 69 million pounds in November 2004 and Tata take over of Incat International, a British software company for 53 million pounds last year.
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