Amid uncertain economic and business conditions globally, Finance Minister Nirmala Sitharaman’s recent UK visit assumes significance with both the countries committing greater investment and cooperation.
Sources in the finance ministry said that the finance minister’s UK visit – to attend the 13th Economic and Financial Dialogue (EFD) on April 9th — could prove to be an important milestone in the growing economic ties between the two countries. According to sources, a delegation of UK businessmen visited the finance minister on Wednesday to further inquire about investment opportunities in India.
During her visit to the UK, Finance Minister Nirmala Sitharaman succeeded in getting trade and investment commitments worth 400 million pounds from businesses in the UK.
Barclays Bank PLC India has announced capital injection of over £210 million into its Indian operations, affirming its long-term commitment to India. Barclays latest investment in the country is aimed at growing its businesses across the Investment and private banking in India.
HSBC Bank has promised to expand its presence from the current 14 cities to 34 cities in India. This expansion will enable the bank to cover approximately 95% of India’s wealth market, reinforcing their commitment to India.
