London,
13
September
2019
|
11:17
Europe/Amsterdam

Lord Mayor of London calls on UK to become India’s fintech knowledge partner

The Lord Mayor of London, global ambassador for the UK’s financial and professional services industry, is to visit Nepal and India from 15 to 20 September 2019 to strengthen trade links.

Lord Mayor Peter Estlin will travel to Kathmandu on 15 September, where he is scheduled to hold meetings with figures including Prime Minister KP Sharma Oli, Finance Minister Dr. Yuba Raj Khatiwada and the Governor of Nepal Nastra Bank Dr. Chiranjibi Nepal.

In addition he will tour ‘Digital Mahilia’, a DFID-funded Access to Finance project, before meeting customers from Branchless Banking (BLB), a UK government sponsored initiative providing financial services in the wake of the 2015 Nepal earthquake. The meetings form part of the Lord Mayor’s ‘Shaping Tomorrow’s City Today’ agenda, more information on which is provided below.

Moving to India, the Lord Mayor will lead a delegation of UK fintech firms (see below for the full list) to Delhi, Hyderabad and Mumbai for meetings with the government, regulator and industry leaders to promote ties in innovation and fintech.

Lord Mayor Estlin, the 691st incumbent of a role that dates back centuries, is the leader of London’s ‘Square Mile,’ or financial district, and has visited some 27 countries over the course of his year in office. Peter Estlin is a banker by profession.

His visit aims to boost relations between India and the UK in innovative finance, and follows work between the City of London Corporation, UK government and Indian High Commission in London on a number of programmes, including Access India, which works to support UK SMEs expanding into the country.

Lord Mayor of London Peter Estlin said:

“As a businessman who has travelled to India regularly over the last two decades, I firmly believe that the UK can be a key knowledge partner for the country in its fintech journey.

“That’s why I’ve brought with me a delegation of top-notch UK firms, all of which have an existing India story and are ready to enter the market or expand their presence in areas from banking to insurance. Closer partnership will enable us to deliver the innovative solutions needed to meet the unique challenges posed by India’s fast-growing economy.

“Relations between the UK and India are long and historic. Whatever happens with Brexit after October 31, we cannot lose sight of the importance of our £18 billion trading relationship, and the potential to grow this further for the benefit of both our countries, particularly in areas like fintech.”

The City Corporation has a longstanding programme of work in India, and opened a representative office in Mumbai twelve years ago. Around 10-15 Indian financial firms are based in the Square Mile which the City Corporation works closely with, and there are many more based across London.

The Lord Mayor will be tweeting from @CityLordMayor during his visit.

ENDS

List of firms on delegation

  • Agvesto Ltd
  • Aon
  • Asset Vault
  • Greensill Capital
  • iProov
  • Onfido
  • Revolut
  • Transferwise
  • Voxta

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

The Lord Mayor’s Mayoral theme “Shaping Tomorrow’s City Today”  aims to promote innovation and technology, champion digital skills and address digital and social inclusion.

 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 625 086