British fintech delegation set for India visit

British fintech delegation set for India visit
London’s Lord Mayor is preparing to lead a delegation of financial technology (fintech) companies to India in a bid to strengthen relations.

Set to take place during the second week of October, the five-day visit will provide an opportunity for UK firms to promote tech innovation and forge new partnerships. The group is expected to spend time in Mumbai, Bangalore and New Delhi.

According to a report by the Press Trust of India, the announcement was made during a Fintech event at London’s Guildhall this week.

Mr Bowman said: “India is now at the heart of the digital revolution, investing in new technologies and upskilling workers. The scale of opportunity is almost unfathomable.

©City of London Corporation
©City of London Corporation

“I am delighted to announce that I will be heading a delegation to Mumbai, Bangalore and New Delhi in October this year. I’m seeking to take with me companies that are interested in flying the flag for UK innovation.”

Mr YK Sinha, High Commissioner of India, was also at the Guildhall event. He took the opportunity to highlight the digital revolution that has taken place in India with government support.

Fintech is the future

In May, chancellor Philip Hammond stressed the importance of fintech and the financial services sector to the UK economy as he appointed two new regional fintech envoys.

He said: “Over a million people across the country are employed in our financial services sector, and it is truly a nationwide industry, with two thirds of the jobs based outside London. It fuels growth across the regions and is a vibrant part of our economy.

“Across the UK, from the local high streets to the regional financial centres, the skills and expertise of the people working in the sector are unrivalled, and I am determined to maintain our world-leading position at what is a crucial period for the industry.

“Fintech is the future of financial services, and the UK leads the world in harnessing its power.”

Main image: Lord Mayor Charles Bowman. Photographer: Jason Alden, ©City of London.

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