HM Treasury published the outcomes of the 13th UK-India Economic and Financial Dialogue, including a UK-India joint statement that expands bilateral cooperation and a commercial package of around GBP 400m in trade and investment wins. The dialogue was framed around strengthening economic ties alongside efforts to secure a Free Trade Agreement and a Bilateral Investment Treaty. The joint statement covers cooperation across business sectors including defence, financial services, education and development, and sets out stronger collaboration on growth, economic resilience and international financial issues. Plans announced at the London Stock Exchange include deeper policy cooperation on the UK Industrial Strategy, tax, sustainable finance and illicit finance, and continued work together as co-chairs of the G20 Framework Working Group. The commercial package comprises new announcements worth GBP 128m and recent deals worth GBP 271m, including financial services and fintech-related moves such as Paytm’s planned UK investment, Barclays Bank PLC India’s further capital injection of over GBP 210m, HSBC’s expansion from 14 to 34 cities in India, Standard Chartered’s move to larger premises at GIFT City, and Revolut preparing to launch in India later in 2025 following authorisation from the Reserve Bank of India. On capital markets connectivity, the UK welcomed India taking steps to allow Indian companies to list internationally and exploring listings at the London Stock Exchange, alongside publication of an India-UK Financial Partnership report on linking the two countries’ equity capital markets, which is due to be presented following the dialogue. The update also references further work towards finalising the India-UK Defence Industrial Roadmap and continued ambitions for joint investment in green enterprises, tech start-ups and climate adaptation building on the UK-India Green Growth Equity Fund.

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