The Dialogue saw government-to-government discussions to strengthen cooperation on four key themes: Gujarat International Finance Tec (GIFT) City; banking and payments; insurance, and; capital markets. It was led by senior officials from Her Majesty’s Treasury and the Indian Ministry of Finance, with participation from independent British and Indian regulatory agencies.
The creation of the Financial Markets Dialogue to strengthen financial services cooperation and address regulatory barriers for UK and Indian firms was agreed at the tenth Economic and Financial Dialogue (EFD) between the UK and India by Chancellor Rishi Sunak and Finance Minister Nirmala Sitharaman last year.
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