We want our members to be the partner of choice for Indian companies and the UK to be the location of choice for Indian investment.
In order to achieve this, we work with H M Treasury, the Foreign and Commonwealth Office, the Department for Business, Innovation and Skills, UK Trade and Investment, the City of London Corporation and the Lord Mayor, City Hall and others to promote the strengths and expertise of our members to our Indian partners and increase the opportunities available in the India market to UK business. We are committed to highlighting the UK as the global centre for financial and related professional services and a prime destination for inward investment.
Our India Market Advisory Group sets the strategic priorities for our sector and is run in close collaboration with the UK-India Business Council (UKIBC).
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.
Sir Gerry Grimstone, was in India on 8 December 2014 to reinforce some high-level messaging about the Partnership. He met the Indian Finance Minister with his co-chairman in the Partnership. This meeting was also attended by the Finance Secretary, Rajiv Mehrishi, and the Joint Secretary Capital Markets, Manoj Joshi.
Chris Cummings, Chief Executive of TheCityUK, visited India from 2 to 4 December 2014 to deliver a keynote speech in Mumbai at a conference organised by JP Morgan on how the city’s ambition to become a more international and outward-looking financial centre could be achieved. He also met with Indian business leaders, along with the media and representatives of government, to discuss the reform process the Modi government is pioneering and issues such as the Insurance Bill, data processing, India’s tax regime, the impact of Priority Sector Lending targets and their application to foreign banks.
This visit also put the final touches to sealing a new strategic partnership between TheCityUK and the UKIBC. Under the new arrangement, we will continue to provide the strategic wrapper for the sector drawing in government and other key players in order to achieve overall consistency and coherence. The UKIBC will lead with intelligence-gathering and insights in-market through its network of offices which will help us inform members’ debate on the strategy and priorities for the sector.
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