India Market Advisory Group

TheCityUK’s India Market Advisory Group (MAG) provides the strategic direction for UK-based financial and related professional services engagement with India.

It provides an umbrella for all our India-related activity and delivers outcomes under a number of projects, including the India-UK Financial Partnership (IUKFP) for which we are the secretariat on the UK side. The work of our India MAG and the IUKFP form the basis of the India pillar of HM Treasury’s Financial Services Trade and Investment Board (FSTIB).

Our India work programme is closely aligned to our Liberalisation of Trade in Services (LOTIS) Committee. Through it we guide the industry’s objectives for trade and investment policy, including priorities for the UK’s bilateral trade and investment relationship with India, post-Brexit.

Priorities of the India MAG

- Supporting the IUKFP to deepen networks between Indian and UK business and policymakers.
- Providing industry input into bilateral government engagement.
- Promoting future bilateral relationship post-Brexit.
- Encouraging the opening of the Indian market to UK-based financial and related professional services.
- Exploring opportunities for mutual understanding and knowledge sharing.

India UK Financial Partnership

The IUKFP was launched by the Chancellor of the Exchequer and the Indian Finance Minister in July 2014. The IUKFP aims to increase collaboration between the financial sectors of India and the UK. It is led on the UK side by Sir Gerry Grimstone, Chairman of Standard Life Aberdeen, and Deputy Chairman and Senior Independent Director of Barclays, and on the India side by Mr Uday Kotak, Executive Vice-Chairman and Managing Director of Kotak Mahindra Bank. IUKFP activity forms the financial services pillar of the UK-India CEO Forum.

Priority work-streams have been identified and policy discussion papers with key recommendations have been published on the following issues:
- pensions
- India’s new insolvency regulations
- infrastructure funding
- development of India's Corporate Bond Market
- development of the reinsurance industry in India
- financial inclusion
- responsible shareholder engagement an Indian Stewardship Code
- internationalisation of the Indian Rupee
- developing India’s green finance market.

For more information about our India work programme please contact us.

You can download the current papers below