The 13th Economic and Financial Dialogue in London: A Collaborative Journey

In a thrilling event held today at London’s prestigious venue, the 13th Economic and Financial Dialogue (EFD) between India and the UK has come to life. This historic meeting, led by the Indian Finance Minister and the UK Chancellor, marked a significant milestone in their collaboration journey, particularly focusing on financial services, FinTech, digital economy, regulatory bodies, and mutual growth.

Introduction to the 13th EFD:

The event was attended by leading officials from both nations, showcasing the strength of their partnership. Both sides reaffirmed their commitment to continued collaboration in financial services, FinTech, and the digital economy. The dialogue emphasized addressing global economic challenges through discussions on affordable finance, investment, low carbon growth, taxation matters, and illicit financial flows.

Key Discussions:

Both Indian and UK delegates exchanged valuable insights and plans. They highlighted a focus on mobilizing affordable finance and investment for India’s low-carbon future. The UK reported its efforts in the IUKFP report, while India announced new green finance initiatives under the IUKFP framework. Both countries also emphasized the importance of advancing green energy resources through collaboration.

Joint Statement:

The 13th EFD concluded with the adoption of the Joint Statement by the Union Finance Minister of India and the Chancellor of the Exchequer of the UK. This statement underscored their shared goals in financial services, regulatory frameworks, and mutual economic growth, reinforcing the spirit of collaboration.

Notable Announcements:

• The Indian government announced the establishment of public universities in collaboration with the UK.
• The UK released its report on IUKFP’s direct listing in IFSC GIFT City, signaling progress in financial partnerships.
• New green finance initiatives under the IUKFP were introduced, aligning India and the UK in addressing climate change.

Closing Remarks:

Both Indian and UK officials delivered heartfelt closing remarks, emphasizing their commitment to fostering dialogue and collaboration. The event highlighted the significance of India’s growing role in global finance and its potential to make a positive impact on economies worldwide.

Conclusion: The 13th EFD stands as a testament to India and the UK’s bond, showcasing their ability to innovate, collaborate, and address shared challenges through a shared vision for growth. This dialogue will undoubtedly drive further progress in both nations and beyond.