UK finance minister to lead trade mission to India next week

2 Apr 2017

British Finance Minister Philip Hammond will lead a “heavyweight” trade mission to India next week with the message of ‘Make in India, Finance in UK’ in an effort to boost international trade post-Brexit.
Chancellor of the Exchequer Hammond will visit Delhi and Mumbai alongwith Governor of the Bank of England Mark Carney and UK government ministers, including Commercial Secretary Baroness Neville-Rolfe and International Trade minister Mark Garnier, the UK government said on Sunday.
The delegation is part of the annual UK-India Economic and Financial Dialogue and also includes some of the UK’s most experienced leaders in financial services and leading FinTech entrepreneurs.
“I’m delighted to be leading such a heavyweight delegation to India to bang the drum for British business. I am determined to create a truly Global Britain, reaching out and promoting the best of what we have to offer,” Hammond said in a statement.
“The UK is perfectly placed to be India’s financial partner of choice, helping it to raise the finance needed for its continued rapid growth and my message will be ‘Make in India, Finance in the UK’. Our innovative markets have helped support the development of whole new product classes such as masala bonds that will support India’s transformation,” he noted.
British Prime Minister Theresa May had set the ball rolling on Britain’s exit from the European Union (EU) as she triggered Article 50 of the Lisbon Treaty last week.
The trip has been described as a significant opportunity for the Chancellor to discuss Britain’s new role in the world, as it prepares to revitalise its links with friends and allies, opening up new markets and new opportunities for British businesses.
“As we leave the EU and embark on an exciting new phase of our economic history, looking to boost our trade and investment beyond the borders of Europe and strengthening our relationships with the world’s most vibrant economies is more important than ever,” the Conservative party minister added. (PTI)