London,
23
January
2019
|
10:51
Europe/Amsterdam

City of London Corporation Policy Chair set for first visit to India

The City of London Corporation’s Policy Chair Catherine McGuinness is to make her inaugural visit to India from 27 to 30 January 2019 to strengthen ties in financial and professional services.

The Policy Chair, who is the political leader of London’s historic ‘Square Mile,’ or financial district, will travel to Delhi and Mumbai for meetings with senior government and industry leaders to discuss how to boost relations and knowledge sharing in areas like fintech, green finance, (re)insurance and non-performing assets.

During the visit the Policy Chair will launch a new report on regtech. The publication is the third and final document in a fintech-related series produced by the City Corporation alongside PwC India, and outlines UK regtech expertise, the market opportunity in India and a recommendation on how to improve collaboration in the sector.

With the UK’s scheduled departure from the European Union now just weeks away, the visit also aims to provide reassurance to Indian financial firms worried about Brexit, and the risks of a no-deal situation.

Catherine McGuinness, Policy Chair at the City of London Corporation, said:

“My first visit to India comes at an interesting point in time for both our countries. In the UK our focus remains firmly on Brexit, while in India the conversation is all about the pending budget and elections.

“But while these political issues may dominate headlines for good reason right now, it’s crucial we don’t lose sight of the larger picture and the importance of the strong relationship between our two countries.

After all, while trade between the UK and India stands at an impressive £18.8bn, there is still enormous potential to expand this relationship even further, and I look forward to discussions with business and government leaders about how we can do this.”

High Commissioner of India to the UK, HE Ruchi Ghanashyam said:

“The City of London Corporation is an important partner of the High Commission of India in London, working closely to boost economic and commercial activities between India and the UK particularly in the fields of financial services and fintech.

“I am delighted to learn that the Policy Chair is visiting India at the end of this month. This visit will foster greater understanding of the City of London in India as well as deepen the already close and strong trade and economic relationship.

“My best wishes to the Policy Chair for a successful and fruitful visit to India.”

Regional Head of State Bank of India (UK Operations), Sanjiv Chadha said:

“SBI is delighted that Policy Chair Catherine McGuinness will make her inaugural visit to India.

“The Bank is pleased to work with the City of London Corporation in further developing relationships in the financial and professional services space.

“It is a relationship that continues to provide unique and important opportunities for growth in both the Asian and UK markets.”

The City Corporation has a longstanding programme of work in India, and opened a representative office in Mumbai ten years ago. 13 Indian banks have offices in London and many have branches across the UK.The Policy Chair will be tweeting from @City_McGuinness during her visit.

ENDS

Notes to editorsThe City of London Corporation is the governing body of the Square Mile dedicated to a vibrant and thriving City, supporting a diverse and sustainable London within a globally-successful UK. www.cityoflondon.gov.uk

For more information contact:

Nathan Rodgers, Media Officer for Asia

City of London Corporation

Nathan.rodgers@cityoflondon.gov.uk

44 (0)207 332 3451

44(0)7864 625086