Business Daily from THE HINDU group of publications
Thursday, Nov 22, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Thursday, Nov 22, 2007 ePaper | Mobile/PDA Version |
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Industry & Economy
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Foreign Trade States - Maharashtra London a big draw for Indian cos
Our Bureau Mumbai Nov 21 London is an expensive place to do business. But the city is still a big draw for Indian and US business houses, as they believe that London offered the best return on investment for expanding into the global marketplace than any other European city. A survey conducted by Penn Schoen & Berland for Think London, the official FDI agency for London, has pointed out that six out of the ten Indian and US companies surveyed in London believed the city offered the best rate of return . Even companies based in Continental Europe often feel that London offers a better RoI than their current location—28 per cent say London offers the best RoI, followed by 18 per cent who plumped for Paris and eight per cent for Madrid, according to the study. The survey took place to coincide with a visit to India by Mr. Ken Livingstone, the Mayor of London. He addressed the inaugural session of the London & India—Partners in Globalisation summit in Mumbai on Wednesday. The study also revealed that Indian and US companies grew faster in London than anywhere else in Europe. “Half of Europe-based companies and four out of five London-based companies said their group’s London office generates the highest revenue compared with their other European locations.” . The Think London research finds that only a fifth of Europe-based companies experienced a great deal of diversification and expansion into new businesses, compared to nearly a third of London-based companies. More Stories on : Foreign Trade | Maharashtra
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