Bengaluru, Hyderabad among top 20 global cities attracting FDI in ICT sectors
London, Mar 1: Bengaluru and Hyderabad have secured their place among the top 20 global cities successfully attracting foreign direct investment (FDI) into the information and communications technology (ICT) and electronics sectors, according to a latest analysis released in London on Friday.
London & Partners (L&P), the Mayor of London's promotional agency, found in its evaluation of provisional 'fDi Markets' data for 2018 that the British capital attracted more FDI projects than any other global city last year.
For the ICT and Electronics sector in particular, Bengaluru ranked sixth with 37 companies compared to London's 80.
Bengaluru also held on to the sixth position in an overall analysis for the 10-year period of 2008-2018 for the top destinations for ICT and Electronics sectors, with a total of 410 projects compared to top-ranked London's 911 projects.
Hyderabad ranked 14th in terms of attracting FDI in the ICT and Electronics sector, with 20 companies investing over the course of 2018. Some of the other top-ranking cities in the sector behind London include Singapore, Dubai, Paris and Tokyo.
The analysis concluded that 822 companies classified as ICT & Electronics businesses have set up in London from 2008 to 2018, creating an estimated 27,000 jobs for the city's economy.
Among the other findings released on Friday, UK-based technology and investment advisory firm GP Bullhound highlighted that London is producing more unicorn businesses than any other European city, with 17 companies surpassing the USD1-billion valuation mark since 2010, over double the amount of other major tech cities such as Berlin and Paris.
"London is a top place to start, grow and scale an international business. From Artificial Intelligence to Fintech, London is home to lots of exciting companies that are leading the way in developing innovations and ideas to change the world, said Laura Citron, CEO of London & Partners.
London's business community is truly global, built on the values of diversity and progressive thinking. We're delighted to welcome more international companies than any other city and today's figures show that London is open to investment and talent from all over the world, she said.
The data revealed that London is currently home to 13 unicorn businesses, more than Madrid, Stockholm and Amsterdam combined. The increasing number of high growth businesses coming out of London's has boosted the UK to the top of the unicorn league tables, with the UK currently housing over a quarter (20) of the 64 total unicorn businesses across Europe.
"The challenge now is for London unicorns to kick on, and crucially for investors to back them with increased resources so that they can challenge the dominance of Silicon Valley, which will lead to Europe securing its first tech titan of a valuation of over USD 50 billion, said Manish Madhvani, the Indian-origin Co-founder and Managing Partner of GP Bullhound.
Sectors such as artificial intelligence, which London is leading the way on, will help to secure the long-term success of the capital's tech scene, he said.
To celebrate these findings and highlight his message of London is Open , London Mayor Sadiq Khan also hosted a roundtable with senior representatives from some of London's leading businesses, including a number of unicorn companies, this week.
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Four doctors in Kerala booked for birth of newborn with genetic disorders
Alappuzha, (Kerala) (PTI): Four doctors in Kerala have been booked for allegedly failing to detect genetic disorders in a newborn while it was still in the mother's womb, the police said on Thursday.
The accused include two female doctors attached to the Kadappuram Government Women and Child Hospital in Alappuzha, along with two doctors from private diagnostic labs, according to the Alappuzha South police.
The police registered an FIR on Tuesday based on a complaint lodged by Anish and Surumi, a couple from Alappuzha.
They alleged that the doctors failed to detect or disclose the genetic abnormalities during prenatal scans, instead assuring them that the reports were normal.
The couple also claimed that they were shown the baby only four days after delivery, according to the complaint.
The FIR stated that Surumi, 35, was undergoing treatment for her third pregnancy at Kadappuram Women and Child Hospital.
On October 30, Surumi was admitted for delivery. However, she was referred to Government Medical College Hospital (MCH) in Vandanam, Alappuzha, citing the absence of fetal movement and heartbeat, the FIR said.
On November 8, the baby was delivered following surgery at MCH and was found to have severe internal and external deformities, the FIR stated.
Meanwhile, one of the accused doctors, responding to the allegations, said she had treated Surumi only during the initial months of her pregnancy.
"I provided care for three months at the beginning of her pregnancy. The reports shown to me indicated issues with the fetus's growth," she said.
The doctors associated with the diagnostic labs, however, maintained that there were no errors in the scan reports.
The police registered a case invoking Sections 125 (act endangering life or personal safety of others), 125 (b) (where grievous hurt is caused, shall be punished with imprisonment of either description for a term which may extend to three years, or with fine which may extend to ten thousand rupees, or with both) of Bharatiya Nyaya Sanhita (BNS) against the accused.
