Nirmala Sitharaman speaks on India-UK financial partnership: ‘Green growth…’
She met British prime minister Rishi Sunak on the first day of the G20 summit and the two discussed issues of mutual interest and areas of collaboration to enhance the India-UK bilateral ties.
Indian finance minister Nirmala Sitharaman at the India-UK Financial Partnership meeting at Vigyan Bhawan, in New Delhi, on Monday, September 11, 2023. (PTI Photo/Shahbaz Khan)
INDIAN finance minister Nirmala Sitharaman on Monday (11) said in a press conference on the India-UK Economic Financial Dialogue at the just concluded G20 summit in New Delhi that the “success of the India-UK Green Growth Equity Fund is a testament to the efficacy of public-private partnerships in channelling large-scale sustainable finance”.
British chancellor of the exchequer Jeremy Hunt was also present.
Speaking on the collaboration between the two economies in the financial services sector, she also said that the UK was eager to further extend its footprint in the GIFT City IFSC and foster a strong FinTech partnership. Sitharaman expressed satisfaction over the “tangible progress” achieved through the India-UK financial ties that have “evolved into a leading public and private sector collaborative forum for dialogue across the financial sector”.
The Indian economist said with emerging technologies such as artificial intelligence and machine learning redefining financial services and India’s new Digital Personal Data Protection Act 2023, there are many opportunities for both sides to come together on frameworks for financial intermediation that is secure and inclusive.
The data protection act, which was enacted for the processing of digital personal data, acknowledged individuals’ right to safeguard their personal data and the need to process personal data for lawful purposes.
“….Today we have also launched the UK-India Infrastructure Financing Bridge. It is a collaborative venture co-led by NITI Aayog and the City of London Corporation aimed at harnessing collective expertise in planning and implementing major infrastructure projects. We remain committed to collaborate, deliberate and innovate to navigate the challenges and seize the opportunities that lie ahead for both nations”, Sitharaman was quoted as saying.
She met British prime minister Rishi Sunak on the first day of the G20 summit on Saturday (9) and the two discussed issues of mutual interest and areas of collaboration to enhance the India-UK bilateral ties.
Prime minister Narendra Modi also held a bilateral meeting with Sunak on the sidelines of the summit and discussed the much talked-about India-UK free trade agreement and other issues.