London corporation policy chair on two-day India visit

Catherine McGuinness.
Catherine McGuinness.

THE City of London Corporation’s Policy Chair Catherine McGuinness is on two-day visit to India starting from January 27.

The visit aims to hold discussions on future relations with the UK in financial services and India.

The political leader of London’s historic ‘Square Mile,’ or financial district, is scheduled to hold meetings with senior government and industry leaders in Delhi and Mumbai.

She is expected to hold discussions on the ways to boost relations and knowledge sharing in emerging common challenges such as cyber security, green finance, and fintech.

McGuinness will meet with representatives from the Bombay Stock Exchange (BSE) and Federation of Indian Chambers of Commerce and Industry (FICCI), as well as the Secretary of the Department for Water, the Insolvency and Bankruptcy Board of India, and the Ministry of Corporate Affairs.

During the visit, the policy chair will also hold discussions on how the city corporation can play a role in providing support to women in India’s financial services sector.

Collaborating with organisations and women leaders in both countries, conversations will focus on how to support women in the industry with training, mentoring and a network that will accelerate their development to leadership.

She will also chair a meeting of the City of London Corporation’s India Advisory Council, a group of senior figures from Indian financial services that helps guide work in the country.

With the UK’s departure from the European Union now just days away, the visit also aims to highlight the fundamental strengths of London and the UK’s financial sector.

McGuinness said: “India and the UK may be rivals when it comes to cricket, but off the pitch relations between our two countries continue to blossom.

“We have long recognised that a closer partnership with India is an attractive proposition for both countries, especially so if it covers financial services. There are many things we can do prior to a potential free trade agreement to boost our £20 billion plus relationship, especially in innovative areas such as fintech, green finance, cyber security and insurance.

“Over the next two days, I’ll be meeting businesses, regulators and government leaders in Delhi and Mumbai to discuss how we can do this, leveraging our mutual expertise to help find opportunities and spark innovative partnerships up and down the country.”

The city corporation has a longstanding programme of work in India and opened a representative office in Mumbai 12 years ago.

As many as 15 Indian financial firms have offices in London and many have branches across the UK.