India Urged to Pursue Further Liberalization of Services, Says City of London Corporation Policy Chairman
Christopher Hayward, the policy chairman of the City of London Corporation, has praised Indian Prime Minister Narendra Modi for his efforts in liberalizing financial services within the country. Hayward believes that the Indian government should continue on this path and pursue even more liberalization in the sector.
According to Hayward, India is currently seen as the fastest-growing country in the world, with a great deal of interest from international businesses. He stated that projections for the next decade are also very promising. He expressed appreciation for the current liberalization of financial and legal services under Prime Minister Modi and encouraged the government to further create opportunities for growth and investment.
Hayward also mentioned the ongoing negotiations for a Free Trade Agreement (FTA) between the United Kingdom and India. While the outcome of these negotiations is uncertain, he highlighted the potential for collaboration and growth between the two countries. Even if the FTA doesn’t materialize, Hayward believes that there are still ample opportunities for both nations to enhance their economic ties.
During his visit to GIFT City near Gandhinagar, Hayward and his team explored investment opportunities for UK firms while also seeking to attract investment for the City of London. The City of London Corporation represents and promotes the UK’s financial and professional services sector. Hayward emphasized their expertise in green finance and infrastructure finance, which aligns with Prime Minister Modi’s focus on infrastructure development.
Hayward’s visit to India marks his first fact-finding mission to the country, where he aims to gather insights and share experiences with the UK’s financial and professional services sector representatives. He acknowledged the need for private finance alongside public funds to support India’s infrastructure projects.
In conclusion, Hayward’s visit highlights the strong interest in India as a growing economic powerhouse. With India’s push for liberalization and the potential for collaboration between the UK and India, both countries can foster stronger economic ties and seize opportunities for growth and investment.
Disclaimer: This article has been generated by an AI tool and has undergone minimal editing.
