London, UK Four of India's computer technology and bioscience companies are due to set up operations, initially employing around 300, in Wales when negotiations with the Welsh Assembly Government and the WDA are completed.
The quartet are taking part in a Welsh Development Agency project aimed at making the country a major base for Indian high technology investment in Europe. A further 30 companies from the same sectors have already shown an interest in similar commitments to finding a Welsh base for business in Europe.
The first four include GTL Limited, a telecom infrastructure company, BPL Telecom, a provider of mobile telephony, Infrasoft Technologies, a financial software specialist and Elan, a company which is developing a laser technology for use in heart surgery.
The WDA is working with Dina Dattani, a London-based corporate lawyer specialising in fast growth Asian companies to help the companies establish themselves in business in Wales.
Dattani said, “We are now working to embed these first four companies in Wales, and to provide them with services such as advice on all legal and regulatory matters. Based on the success of this first phase we are planning to work with another 30 companies by the end of the year.”
Graham Hawker, WDA Chief Executive, said: “India has developed remarkable strengths in these sectors and many Indian companies are now looking for new opportunities in Europe. We believe that there is a tremendous opportunity for Wales to benefit from joint ventures and partnerships with Indian entrepreneurs.”
For the past three years, the WDA has been a main sponsor of the annual Nasscom (National Association of Software Services Companies) conference at Mumbai.
Hilary Hendy, the WDA's International Executive Director, said, “We're delighted with the progress which the pilot has already achieved and we believe that our involvement with Nasscom has been a very worthwhile investment of Welsh resources. More and more world-class technology companies in India want to internationalise their activities. So far, these companies have been targeting the London area to start up in the UK or Europe.”