British Finance Minister Philip Hammond will head a business delegation to India next week in an effort to boost international trade as UK begins the process of leaving the European Union. Chancellor of the Exchequer Hammond will be joined by International Trade Minister Mark Garnier and Bank of England Governor Mark Carney for the high-level talks in New Delhi and Mumbai.
Mr Hammond said in a statement that as Britain leaves the EU and embarks on an exciting new phase of its economic history, looking to boost trade and investment beyond the borders of Europe and strengthening their relationships with the world’s most vibrant economies is more important than ever.
Next week’s talks form part of the annual UK-India Economic and Financial Dialogue and Hammond’s delegation will include leaders from the field of UK financial services. The Treasury statement said, India’s finance sector is undergoing a significant transformation, with new payment firms, small finance banks and insurance players entering the field.