The pact provides commitment with respect to sectors like provision and transfer of financial information, and financial data processing and related software by suppliers of other financial services
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SUSHIL KUMAR VERMA
The India-UK free trade agreement will enable Indian financial services players to expand their footprint in Britain, enhance their competitiveness and serve Indian diaspora and businesses.
The pact, officially called Comprehensive Economic and Trade Agreement (CETA), was signed in London on Thursday in the presence of Prime Minister Narendra Modi and his British counterpart Keir Starmer.
The agreement will also open opportunities for UK investment in the fast growing Indian market.
This investment pact has the potential to bring in new, innovative, competitive financial services, thereby benefitting customers of financial services and broader economy without compromising the stability of India’s financial services sector, a commerce ministry official said.
Non-discrimination rules will ensure Indian firms are treated fairly when providing services to the UK, with comprehensive transparency commitments guaranteeing that UK rules for authorizing Indian financial services firms remain fair, transparent, and objectively administered, the official said.
Commitments in this sector are expected to translate into gains for electronic payments, FinTech, financial diversity, stability, and market integration, the official added.
For digitally delivered financial services, UK has provided market access with respect to the various subsectors under both insurance and insurance related, and banking and other financial services.
With regard to insurance sector, the agreement is expected to enable non-life insurance services and insurance intermediation (maritime shipping and goods in international transit), reinsurance and retrocession, and services auxiliary to insurance to expand their operation in India.
The pact provides commitment with respect to sectors like provision and transfer of financial information, and financial data processing and related software by suppliers of other financial services.
Published on July 24, 2025
