India-UK Economic Dialogue: Paving the Way for Enhanced Financial Cooperation

Indian Finance Minister Nirmala Sitharaman met with UK leaders to discuss the India-UK Free Trade Agreement and financial collaboration. The discussions aim to enhance bilateral trade, educational ties, and mutual recognition of professions. The 13th Economic and Financial Dialogue focuses on cooperation across finance, education, and technology.

Nirmala Sitharaman, India's Finance Minister, engaged in pivotal discussions with British Prime Minister Keir Starmer and Chancellor Rachel Reeves on Wednesday. The talks occurred at 11 Downing Street and centred on the progress of India-UK Free Trade Agreement (FTA) negotiations and the upcoming UK-India Economic and Financial Dialogue (EFD).

Among the critical areas of focus was enhancing financial sector collaboration and welcoming UK universities to India. Both nations are keen on mutual recognition of professions and bolstering science and technology links. The Indian priorities include advancements in IFSC GIFT City, investment, fintech, and sustainable climate finance, while the UK desires to secure a new trade deal to foster job creation and investment.

The dialogue aims to strengthen a growing partnership, with trading relations valued at GBP 41 billion last year. Sitharaman underscored the UK's enthusiasm and expressed optimism for a timely FTA signing, set to elevate the bilateral relationship dramatically.

(With inputs from agencies.)