India, UK discuss agenda of Economic and Financial Dialogue

During his recent visit to the United Kingdom, Finance Minister Arun Jaitley met Chancellor of the Exchequer Philip Hammond at 10 Downing Street.

Both leaders discussed the agenda of the upcoming Economic and Financial Dialogue scheduled to be held in Delhi in April 2017.

The agenda for the EFD will include, among other things, progress on the India-UK sub-fund under India's National Investment Infrastructure Fund, raising of capital in London including through issue of 'masala bonds' and exploring co-operation in the FinTech sector which has opened up immense opportunities post-demonetization in India.

The two leaders appreciated the balanced two-way flow of investments between the two countries and the keenness on both the sides to pursue a trade agreement post-Brexit. They reaffirmed their personal commitment to further strengthening of India-UK economic and commercial ties.

In a special gesture, Prime Minister Theresa May dropped in to meet Finance Minister Jaitley during his meeting with the Chancellor.

Recalling her visit to India in November last year, she expressed her appreciation on the follow-up of the agenda agreed upon by both the prime ministers. She remarked that the upcoming Economic and Financial Dialogue, Energy Summit and Migration dialogue will help consolidate on the momentum generated by the prime ministerial visits in the last two years and reiterated her keenness to promote UK's relations with India, particularly post-Brexit and even otherwise.

On Monday, Mr. Jaitley met UK Foreign Secretary Boris Johnson at the Foreign and Commonwealth Office.

Welcoming the India-UK Year of Culture, the two leaders hailed the strong India-UK bilateral ties and the potential to further strengthen them.

In all these meetings, Mr. Jaitley raised the issue of Indians wanted by Indian government and courts residing in the UK and requested for UK Government's assistance in facilitating their return to India.

Mr. Jaitley also attended Her Majesty the Queen's reception to launch the activities of the 2017 India-UK Year of Culture.

He was accompanied by a FICCI business delegation. He also met with investors and business community in various events organised by London Stock Exchange, UKIBC, JP Morgan and the CBI.

He also delivered a talk on Transforming India: Vision for the next Decade at London School of Economics under the 100 Foot Journey Club, jointly organised by LSE and High Commission of India.