FM Nirmala Sitharaman
Leads Indian Delegation in 11th UK-India Economic and Financial Dialogue
The 11th India-United Kingdom Economic and Financial
Dialogue (EFD) was held on 2 September 2021, virtually chaired by Indian Union Minister
for Finance & Corporate Affairs Smt. Nirmala Sitharaman
and the United Kingdom Treasury Chancellor Mr. Rishi Sunak.
The Indian delegation included Governor RBI, Chairman
SEBI, Chairman IFSCA, Secretary Economic Affairs and other representatives from
Ministry of Finance, Ministry of External Affairs and Indian High Commission, UK.
The UK delegation included Governor Bank of England,
CEO Financial Conduct Authority, Economic Secretary and other representatives from
UK HMT.
The Dialogue, inter alia, covered discussions on
economic cooperation on multilateral issues, including G20 and COP26. Both sides
deliberated on furthering of Financial Services collaboration with special emphasis
on Fin-Tech and GIFT City, annual India-UK Financial Market Dialogue and measures
underway to reform financial markets. Infrastructure development and promotion of
sustainable finance and climate finance were also discussed.
Private sector initiatives under India-UK Financial
Partnership (IUKFP) and India-UK Sustainable Finance Working Group including its
progress were also discussed. The Climate Finance Leadership Initiative (CFLI) India
partnership was launched today by both sides which aims to work with financial institutions,
corporates, and existing sustainable finance initiatives to accelerate efforts to
mobilise capital into India. Both sides agreed to continue
to work together to mobilise finances via multilateral
and private means and sharing relevant experience, including of the UK’s upcoming
sovereign green bond issuance.
The 11th Economic and Financial Dialogue concluded
with adoption of Joint Statement by Union Finance Minister and Chancellor of Exchequer
of United Kingdom and release of the Joint Statement on Climate Finance Leadership
Initiative (CFLI) India partnership.
Enclosure:
1. Joint Statement of 11th India-UK
Economic and Financial Dialogue
2. Joint Statement
of Climate Finance Leadership Initiative Partnership