New Delhi, Oct 7 (IANS) India and the UK have agreed to identify priority areas to explore for future capital markets cooperation as the two sides discussed opportunities to increase cross-border investment and Indian firms’ access to international capital including through cross-border equity and bond listings via GIFT-IFSC, and stronger capital market connectivity, according to a joint statement, adopted after the ‘India-UK Financial Markets Dialogue 2026’ held in London.
The UK and India welcomed the constructive discussions and reaffirmed the important role of the Financial Markets Dialogue (FMD) in supporting their shared ambitions for sustainable growth, deeper trade and investment, and resilient financial markets. Both sides also agreed to identify practical and potential solutions to deepen financial services links, an official statement said on Wednesday.
Officials from the two countries reflected on a strengthened relationship particularly in the context of the launch of Vision 2035, and the importance of driving the implementation of the UK-India Comprehensive Economic and Trade Agreement (CETA) which entered into force on 15 July 2026, according to the joint statement.
Participants agreed to drive progress across the workstreams, with updates reviewed through the relevant bilateral mechanisms and at the next UK-India Economic and Financial Dialogue.
Participants discussed their respective insurance and pension reforms and market opportunities. The UK outlined recent updates to its insurance regulatory framework as part of the Financial Services Growth and Competitiveness Strategy and developments in its pensions and annuity markets, while India outlined its ambitions to expand coverage, investment and market capacity. To support market development, bilateral trade and investment, both sides agreed on the importance of the Insurance and Pensions Workplan established in 2023.
They also recognised the value of competitive and resilient markets, access to specialist expertise, diverse pools of capital and reinsurance capacity in managing complex risks and supporting long-term domestic development. Both sides also discussed the opportunities in reinsurance arising from India’s evolving regulatory framework, and from deeper cooperation between the London Market and Indian insurers and reinsurers.
Participants also exchanged experiences in pensions regulation, governance, coverage and long-term savings reform. They discussed measures to increase participation and support productive long-term investment and agreed to explore knowledge sharing in areas aligned with their domestic priorities.
Both sides welcomed further internationalisation of the Indian rupee and recognised London’s role as the leading offshore rupee trading hub. On sustainable finance, they discussed the importance of credible sustainable finance frameworks, high-quality disclosures, global standards, and investor confidence in mobilising private capital for the low-carbon and climate-resilient transition.
Participants exchanged updates on their respective approaches to fintech and innovation. India shared its experience on scaling fintech adoption and financial inclusion, through digital public infrastructure (DPI), including digital identity, digital payments, Central Bank Digital Currencies (CBDCs) and data exchange frameworks.
Both sides agreed the importance of supporting responsible innovation and competition without compromising regulatory oversight. Both sides exchanged perspectives on the potential opportunities and risks of artificial intelligence (AI) in financial services and agreed on the value of continued bilateral exchange and coordination through relevant international fora. India shared its digital onboarding process for retail financial services and committed to further share its experiences.
–IANS
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