Finance Minister Nirmala Sitharaman has chaired an India-UK Investor Roundtable in London, attracting around\u00a060 UK investors representing various pension funds, insurance companies, banks and other financial institutions.<\/p>\n
According to the Ministry of Finance, the high-level roundtable on Tuesday evening\u00a0outlined\u00a0the\u00a0priorities of the\u00a0government\u00a0for enabling sustained economic growth and\u00a0investment\u00a0opportunities,\u00a0with the policy support that is shaping “New India”.<\/p>\n
It\u00a0highlighted the efforts being made\u00a0by the ministry\u00a0to pursue process and governance reforms to reduce compliance burden and ease regulation for facilitating an enabling environment for business and investments.<\/p>\n
\u201cIndia offers a compelling growth opportunity for foreign banks and the\u00a0government of India is actively encouraging foreign investment in the banking sector,\u201d Ms Sitharaman told the gathering.<\/p>\n
With an expanding middle class and strong and stable policy environment, the Union Finance Minister said that India is set to become the sixth-largest Insurance market by 2032 with the expected growth at 7.1\u00a0per cent\u00a0CAGR from 2024-2028 \u2014 one of the fastest growing insurance markets\u00a0among G20 countries, the Ministry of Finance readout said.<\/p>\n
Ms Sitharaman also\u00a0informed the investors that the Indian securities market is among the first major markets to fully adopt the T 1 settlement, as early as 2023, and India’s market capitalisation stands at USD 4.6 trillion, currently ranked fourth globally.<\/p>\n
The T 1 settlement means that trades are settled one business day after the transaction date.<\/p>\n
\u201cThe Union Finance Minister spoke at length about India’s maiden International Financial Services Centre GIFT-IFSC \u2014 an offshore zone that is endowed with an enabling ecosystem with considerable tax exemptions, skilled manpower, foreign currency transactions, and strategic geographical location,\u201d the ministry noted.<\/p>\n
The gathering was informed that as of\u00a0March 2025, more than 800 entities across banks, capital markets, insurance,\u00a0fintech, aircraft leasing, ship leasing, bullion exchange, among others have been registered with the IFSCA.<\/p>\n
Underlining India’s digital economy as a significant contributor to its economic growth, accounting for 11.74\u00a0per cent\u00a0of the GDP in 2022-23, Ms Sitharaman informed the participants that India\u00a0\u201cstands third globally in terms of the number of homegrown unicorns\u201d.<\/p>\n
She flagged\u00a0India\u00a0as\u00a0home to\u00a0a strong fintech\u00a0ecosystem, driven by a large tech-savvy population, supportive government policies, and an innovative startup ecosystem.<\/p>\n
The sector has witnessed a rapid surge in\u00a0fintechs\u00a0over the last\u00a0five\u00a0years,\u00a0as is evident from an astounding 87\u00a0per cent\u00a0adoption rate against the global average of 64\u00a0per cent\u00a0and 15\u00a0per cent\u00a0share of global\u00a0fintech funding.<\/p>\n
\u201cThe participants shared their views on the reforms pursued by the government and gave feedback and observation on the existing policy framework. They also spoke about their keen interest and commitment for a deeper and broad-based investment collaboration between the UK and India,\u201d the ministry said.<\/p>\n
Ms Sitharaman, Union Minister of Finance and Corporate Affairs, is on a visit to the UK for the 13th Ministerial India-UK Economic and Financial Dialogue (EFD) on Wednesday when she will be holding bilateral talks with her British counterpart \u2013 Chancellor Rachel Reeves.<\/p>\n
\u201cIn a changing world, this government is accelerating trade deals with the rest of the world to back British business and provide the security working people deserve,\u201d Reeves said in a statement ahead of the EFD.<\/p>\n
\u201cWe are going further, faster to create the best possible conditions for British business by working to reduce barriers to trade. That’s why the Business Secretary [Jonathan Reynolds] and I are today meeting with India’s Finance Minister, Nirmala Sitharaman, as part of our two nations’ Economic and Financial Dialogue as we seek to secure a new trade deal,\u201d she said.\u00a0 Reeves said that topics of growth and global issues will be on the agenda for the talks, as well as how to unleash potential across various sectors to create jobs, investment and trade opportunities.<\/p>\n
The ongoing India-UK Free Trade Agreement (FTA) negotiations are expected to be in focus during Ms Sitharaman’s meeting with Reynolds.\u00a0<\/p>\n
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)<\/i><\/p>\n
\u200bFinance Minister Nirmala Sitharaman has chaired an India-UK Investor Roundtable in London, attracting around 60 UK investors representing various pension funds, insurance companies, banks and other financial institutions.\u00a0\u00a0<\/p>","protected":false},"excerpt":{"rendered":"
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