Home Business NewsEconomic News UK-India economic and trade relations to take centre stage on two-day visit

UK-India economic and trade relations to take centre stage on two-day visit

by LLB Reporter
4th Apr 17 8:03 am

Here’s what Hammond said

Chancellor Philip Hammond is in India to showcase Britain as one of the best places in the world to do business.

Building on the Prime Minister’s ambitious vision for the India-UK Strategic Partnership last November, the ninth EFD will involve a series of events over a two-day period, including discussions on trade, financial services, and infrastructure. Bank of England Governor Mark Carney and the CEO of the Financial Conduct Authority, Andrew Bailey, will also take part in the dialogue with Mr Jaitley.

The Dialogue itself will take place in Delhi will also focus on how the UK and India can forge a stronger strategic partnership together.

In Mumbai, the Chancellor will meet Indian FinTech start-ups at Barclays RISE, as well as the Chairman of Mahindra group, and will give a speech at the UK-India FinTech conference.

Chancellor of the Exchequer Philip Hammond said: “As we prepare to leave the European Union, it is more important than ever that we strengthen our relationship with India, one of the world’s leading economies and one of our oldest friends and allies.

“Our trade and investment relationship is already strong – the UK has been the largest G20 investor in India during the last 10 years and India is a leading global investor in the UK, creating over 7,000 new jobs last year alone, but there is much more we can do. I am looking forward to positive and productive talks with Finance Minister Arun Jaitley and his team.”

Secretary of State for Business, Energy and Industrial Strategy, Greg Clark said: “As we deliver on the shared commitment to provide sustainable, secure and affordable energy in both our countries, the India-UK Energy for Growth Dialogue will enable us to explore the immense shared economic opportunities lying ahead.” 

“India invests more in the UK than in the rest of the EU combined, while the UK is  the biggest G20 investor in India. I look forward to discussing how the UK Government’s Industrial Strategy will increase the prospects for shared trade, investment and energy innovation between our two great countries.”  


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