Rolling Stones to woo investment for UK

The Rolling Stones are no longer just ambassadors of universal music, but are now also wooing investment for the United Kingdom.

When the band, which is in India as a part of its 'Licks' world tour, rocks India for the first time ever with concerts in Bangalore (on April 4) and Mumbai (on April 7), it will also be helping UK's inward investment agency Invest.UK to showcase the advantages of investing in Britain.

The national award winning Invest.UK is the official endorser and event partner of the Rolling Stones concert in India. The band has Mick Jagger as lead singer, Keith Richards and Ronnie Wood as guitarists, and Charlie Watts as drummer.

Mumbai's corporate elite attending the Rolling Stones concert at the Brabourne Stadium on Monday night will be hosted at the specially designed Invest.UK lounge at the venue, which will open 90 minutes before the concert.

Invest.UK is expecting to host not only current investors in the UK, but also those who might be potential investors.

Over cocktails, guests at the Invest.UK lounge will be shown a small film depicting how Invest.UK has assisted Indian firms to set up in the UK.

Invest.UK in India is headquartered at the British Deputy High Commission in Mumbai. Steve Firstbrook, head of Invest.UK in India, says he is delighted that the legendary British band will be performing in Mumbai.

"We are delighted to be able to associate ourselves with this fantastic event," said Firstbrook in a media release.

"It is an opportunity for us to entertain our business contacts in a different way. Our message to the Indian investor is that the UK welcomes you. We are very glad that the UK is fast becoming the overseas destination of choice for Indian investment, and believe that the UK is the best gateway to Europe for Indian companies."

India is fast emerging as an important source of investments in the UK. India, with 17 new projects in 2001-2002 is the second biggest investor in the UK from Asia in terms of projects. About 40 per cent of Indian overseas investment flows into Europe, over 60 per cent of which is concentrated in the UK.

Britain is the largest market for Indian software services, accounting for 12 per cent of total IT services exports (nearly $1 billion).

More than 350 Indian firms have set up operations in the UK, of which 275 are from the information and communications technology sectors. They include flagships for the Indian ICT sector such as Tata Consultancy Services Infosys and Wipro.

Eighteen Indian companies are listed on the London Stock Exchange.