New Delhi, October 28
The UK and India inked agreements on financial services, infrastructure and sustainable finance on the sidelines of the 10th Economic and Financial Dialogue (EFD) between Finance Minister Nirmala Sitharaman and UK Chancellor Rishi Sunak.
The agreements reached today include a new strategic partnership to accelerate the development of Gujarat International Finance Tec (GIFT) City as an international financial centre — including regulatory capacity building support for the new International Financial Services Centre Authority.
There will be a new UK-India partnership on infrastructure policy and financing to support the indian national infrastructure pipeline with UK commercial expertise and financing.
“This partnership will involve experience sharing, knowledge exchange and technical assistance to support India’s National Infrastructure Pipeline, including setting up a project preparation support facility-cum-centre of excellence for PPP projects,” said a joint statement after the talks between the two ministers.
During the talks, Sunak championed UK markets as a source for Indian companies to raise international capital and welcomed the decision to allow Indian companies to list on the London Stock Exchange —the UK being one of only seven jurisdictions permitted, according to a UK news release. — TNS