India Inc India Inc: Monday, 16 April 2018 05:30

City of London in fintech partnership with India

 

The City of London announced that it has become a formal programme partner for the Access India Programme (AIP) with financial technology at the heart of the tie-up.

Access India Programme was launched by the High Commission of India in London last year with the aim of facilitating investments by UK small and medium enterprises (SMEs) into India.

The formal partnership with the City of London Corporation, which has already been working with AIP informally, will revolve around hosting delegations, providing practical support and advocacy and regulatory inputs.

Catherine McGuinness, Policy Chairman at the City of London Corporation, said: "The UK is a world leader in fintech and by some estimates home to around 1,600 fintech companies. With cash accounting for most transactions in India, and around one-fifth of the population still unbanked, I look forward to seeing how UK expertise can help accelerate the digital revolution.”

Indian high commissioner to the UK, Y.K. Sinha, said, "The sharing of domain knowledge and expertise in financial services and fintech will greatly benefit the programme as well as facilitate UK companies in these sectors to invest in India.”

The corporation's Global Exports and Investment Team, which has an India-focused Account Manager with links to a variety of key stakeholders, will also support the expansion of UK companies to India.

India Investment Journal’ has in-depth coverage on related topics.

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