Winters-Kotak to facilitate links between fintech-capital markets
Closer, deeper and broader financial cooperation between the UK and India offers huge potential to deliver jobs and prosperity for people in both countries, says Alex Ellis, British High Commissioner to India.
“The breadth of themes discussed in Financial Markets Dialogue (FMD) demonstrated that,” he said.
The FMD took place on 19 April in London to advance collaboration across financial services. The FMD was led by senior officials from His Majesty’s Treasury and India’s Ministry of Finance, and involved independent regulatory agencies from both countries.
They reviewed cooperation across six core themes: banking; payments and crypto-assets; insurance and reinsurance; capital markets; asset management; and sustainable finance.
“The UK Prime Minister and Chancellor have set out a clear plan to drive UK growth. India is one of the world’s fastest growing economies and today’s dialogue shows how growth in both economies can benefit each other,” said the two countries joint statement.
“We share deep bilateral ties and business interests; British banks were the first international banks to set up in GIFT City. We also remain committed to agreeing an ambitious and mutually beneficial free trade agreement and both sides are working hard to deliver this.”
The FMD also included presentations from business leaders, including the launch of a new paper on ‘Harnessing the Power of FinTech and Data’ from the India UK Financial Partnership (IUKFP). The co-chairs of IUKFP, Bill Winters and Uday Kotak, committed to continue to facilitate greater links between the countries’ fintech, capital markets and pensions ecosystems.
The Dialogue focused on six themes:
(1) Banking,
(2) Payments and Cryptoassets,
(3) Insurance and reinsurance,
(4) Capital Markets,
(5) Asset Management, and
(6) Sustainable Finance.
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