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India and UK Strengthen Financial Collaboration in 12th Ministerial Dialogue

  • 13 Sep 2023

Recently, India and the United Kingdom reaffirmed their commitment to bolster financial services cooperation during the 12th Ministerial India-UK Economic and Financial Dialogue held in New Delhi.

Key Points

  • Emphasis on Financial Services: India and the UK expressed their dedication to deepen collaboration in financial services, capitalizing on their respective strengths to foster financial inclusion and sustainable development.
  • Both nations expressed optimism regarding India's efforts to promote financial services and investment in GIFT IFSC (International Financial Services Centre), with the UK pledging support.
  • Infrastructure and FinTech Focus: The dialogue centered on bolstering knowledge exchange, cooperation, and support for infrastructure development, robust FinTech partnerships, and sustainable finance, aligning with long-term growth objectives.
  • Macroeconomic and Multilateral Cooperation: Discussions also revolved around enhancing mutual cooperation on macroeconomic and multilateral issues.
  • Notably, they introduced the India-UK Infrastructure Finance Bridge, a collaborative initiative aimed at leveraging expertise and investment to support India's National Infrastructure Pipeline.