Coimbatore: Coimbatore has potential entrepreneurs and incubation centres, unlike some cities which have almost reached the saturation point, said an official of London & Partners. “Coimbatore is recognized as a rapidly emerging digital and industrial innovation cluster, particularly strong in SaaS and manufacturing-tech,” Hemin Bharucha, chief representative, Mayor of London & regional director – India & Middle East London and Partners, told TOI. Hemin added that India had shown drastic growth by becoming the largest foreign direct investor in London surpassing the US, China and Europe. As many as 31 new Indian companies were established in London in 2023, followed by 23 in 2024, and nine companies have already been set up in just the first two months of this new financial year.”It has held the top position for the last three years. Most of the London investors look for stability, which is naturally present in the country. The primary development happens here but sales, marketing, research and development and final execution take place in London. According to various study reports, for every single employment created in London, six new jobs are created in India, which is a win-win for both countries,” he added. Underscoring their intention for Tamil Nadu, especially Coimbatore, he said, “We helped five public registered creative technologies (including VFX, Gaming, and Animation), set up their firm in London of which three were from Tamil Nadu. As India’s second-largest economy and one of its fastest-growing innovation hubs, Tamil Nadu’s startup ecosystem is currently valued at $28 billion and is growing at an impressive rate of 23% annually,” he saidHemin was in the city to promote UK-based trade. Following the recently concluded UK-India Free Trade Agreement (FTA), a five-day roadshow has been planned in Coimbatore, Chennai, and Madurai, targeting the high-growth sectors for collaboration.
