New Delhi: Finance Minister Nirmala Sitarman started a six -day official journey in the UK and Austria on Tuesday, which aims to strengthen economic relations, increase financial sector cooperation and attract more foreign investment, the Finance Ministry said on Monday.
During the visit, which lasts till 13 April, the Finance Minister will co-preside on the 13th India-UK Economic and Financial Dialogue (EFD) in London on 9 April along with his counterpart, Rechhel Reves Chancellor.
Dialogue – A major ministerial platform between two countries – will focus on strengthening cooperation including financial services, investment flows, regulatory structures, and digital payments in the infrastructure.
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The ministry said, “Major priorities of the 13th EFD dialogue for the Indian side include IFSC Gift City, Investment, Insurance and Pension sectors, Fintech and Digital Economy Cooperation and Cheap and Permanent Climate Finance.”
He said, “On the occasion of India-UK 13th EFD, Finance Minister Sitharaman will engage in bilateral meetings with dignitaries, and investors will participate in other meetings with rounds and heads of major financial institutions and companies.”
In addition to EFD, Sitarman will address an India-UK investor in London, where he is expected to introduce India’s investment environment for a gathering of Chief Officers of British pension funds, insurance companies, banks and other financial institutions.
The roundateable is being co-consulted by the UK’s State Secretary of Jonathan Reynolds in partnership with the city of London.
Both sides have also been slated to start a joint report and unveil new initiatives with the aim of promoting long -term cooperation in capital markets and green finance.
In Austria, Sitarman has been scheduled to hold a meeting with several top Austrian leaders, including Christian stocker, who recently took over as Chancellor, and his Finance Minister Marcus Martbore.
A special trade session co-chairman of Austria’s economy, energy and tourism ministers, Wolfgang Hattarsdorfer, will highlight investing opportunities in India’s growing infrastructure, manufacturing and renewable energy sectors.
