THE Lord Mayor of the City of London, Jeffrey Mountevans, pictured, is visiting India as part of the UK’s commitment to boosting economic ties between the two countries.
The Lord Mayor is leading a delegation of British professional and financial services providers this week to India’s political and financial centres of New Delhi and Mumbai. The UK has been working closely to support the Indian Government’s aim to foster economic growth and inclusive development and this visit is aimed at furthering this for the mutual benefit of both countries.
The UK has also been working closely to support the Indian Government’s ‘Skill India’ campaign. This visit will build on the ongoing work in this area.
With India’s renewed growth trajectory there is a greater demand for professionally qualified staff. Currently the demand for professionally qualified professionals in India significantly outstrips the supply.
The UK is a world leader in providing educational resources from pre-school to university and the qualifications and learning offered by these UK institutes are recognised by employers around the world. India with its young population is well placed to take advantage of the UK’s expertise in financial and professional services.
Lord Mayor Mountevans said: “Ever since Mr. Narendra Modi became the Prime Minister of India, we have seen his visionary economic reform plans for India.
“As India looks to raise more capital for its ambitious plans, the City of London, as the leading financial centre in the world, stands ready and willing to support these aspirations.
“This is an exciting time for UK – India relations and on this visit I am looking forward to exploring how we can form even stronger ties, especially in the areas of financing, skills and economic cooperation. I strongly believe that we can ‘Make in India’ and ‘Finance in the UK’.”
During the visit the Lord Mayor will call on a number of senior Ministers and Officials in the Indian Government including Union Finance Minister Arun Jaitley, where he will emphasise the UK’s commitment to co-operate on infrastructure financing, green financing and the continuation of broader financial sector collaboration under the India UK Financial Partnership.
He will also meet Mr. Piyush Goyal, Minister for Power to discuss how the UK can support India’s clean energy ambitions, in particular the role of the City of London as a world hub for international finance including green finance.
In Mumbai the Lord Mayor will meet the Chairman of SEBI, Deputy Governor of RBI, British banks in India and other senior leaders from the financial and professional services sector, through one to one meetings and round tables. They will discuss key areas of shared interest including financial inclusion, regulatory reform, financial technology, and the raising of finance in the UK to fuel India’s growth.
During his visit he will engage with established and new market participants and government officials, to address issues of mutual interest. Topics covered will include the development of a Fintech bridge between the two countries; the international use of the rupee and long term financing solutions for infrastructure development.
The Lord Mayor represents the City of London and businesses and helps the City Corporation advice the Government of the day on what is needed to help the financial services sector to function well.
The Lord Mayor frequently travels to represent the City; and travels overseas with the status of a Cabinet Minister. On average, the Lord Mayor will meet one head of state a month and will meet a prime minister or finance minister each week to discuss financial services, often in conjunction with senior City business representatives.
The City of London has an active programme of engagement with India, including through its representative office in Mumbai and through advice and guidance from the City of London Advisory Council for India, made up of Indian financial services experts.
The aim of the City of London’s work is to promote a genuinely two-way exchange of trade and investment in financial and professional services between the UK and India and to facilitate engagement between policymakers and industry representatives from both countries.