Sir Gerry Grimstone, Chairman of TheCityUK, has accepted an invitation by the Chancellor and Indian Finance Minister, Arun Jaitley to be the UK chair for the India-UK Financial Partnership (IUKFP), which the two Ministers launched during their Economic and Financial Dialogue in July 2014. The Indian side is being chaired by Mr Uday Kotak, Executive Vice-Chairman and Managing Director of Kotak Mahindra Bank. TheCityUK has agreed to provide the UK secretariat in support of this initiative to help ensure the IUKFP can deliver key outcomes for the financial and related professional services sector. This will be an important part of TheCityUK’s strategy for India in 2015.
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Our India Market Advisory Group provides an umbrella for all our India-related activity and will looks to help deliver a number of outcomes under the IUKFP, as well as other projects which contribute to the strategic objectives of the financial and related professional services sector. It works closely with TheCityUK’s Liberalisation of Trade in Services (LOTIS) Committee to further the sector’s objectives for trade and investment policy.
For information on joining the India Market Advisory Group, or if you would like to get involved in our other India activity, contact firstname.lastname@example.org
India UK Financial Partnership
Launched by the Chancellor of the Exchequer and the Indian Finance Minister in July 2014 and co-chaired by Sir Gerry Grimstone, Chairman of TheCityUK and Standard Life, and Mr Uday Kotak, Executive Vice-Chairman and Managing Director of Kotak Mahindra Bank, the IUKFP’s aim is to increase collaboration between the financial sectors of India and the UK. TheCityUK has agreed to provide the UK secretariat in support of this initiative to help ensure the IUKFP can deliver key outcomes for the financial and related professional services sector.
Five priority work-streams have been identified and policy discussion papers with key recommendations for action will be produced for each. The five are:
- Mutual Sharing of Expertise on Financial Sector and Market Regulation (to cover insolvency regulation)
- Financial Inclusion (especially with regard to micro- and small enterprise finance, and the housing market)
- Infrastructure Funding
- Development of Corporate Bond Market