Nirmala Sitharaman set for week-long official visit to UK, Austria

According to a statement from the Ministry of Finance, the finance minister is scheduled to attend Ministerial-Level Bilateral meetings in both countries.

During the visit, the Finance Minister will participate in the 13th Ministerial round of the India--UK Economic and Financial Dialogue and engage with think tanks, investors, and business leaders in the UK and Austria.

The 13th round of the India-UK Economic and Financial Dialogue is scheduled to be held in London, United Kingdom, on Wednesday. The 13th EFD dialogue will be co-chaired by the finance minister and the UK Chancellor of the Exchequer.

The 13th EFD is a significant bilateral platform between the two countries that offers opportunities for candid engagement at Minister, officer, working group, and regulatory body levels in various aspects of financial collaboration, including investment matters, financial services, financial regulations, UPI interlinkages, taxation matters, and illicit financial flows.

The key priorities of the 13th EFD dialogue for the Indian side include cooperation in IFSC GIFT City, investment, insurance and pension sectors, FinTech and Digital economy, and mobilising affordable and sustainable climate finance.

The ministry said in the statement that the Union Finance Minister and the Chancellor of the Exchequer are also set to announce and launch various reports and new initiatives to further collaborations.

On the sidelines, Sitharaman will engage in bilateral meetings with key dignitaries, participate in investor roundtables and other meetings with heads of key financial institutions and companies.

During the UK leg of the official visit, Sitharaman will deliver the keynote address at the India-UK Investor Roundtable in the presence of Chief Executive Officers of international organisations, including key management personnel from across the UK financial ecosystem, including pension funds, insurance companies, banks, and financial services institutions.

During the Austrian leg of the official visit, the finance minister will hold bilateral meetings with senior Austrian government leaders, including Markus Marterbauer, Finance Minister, Austria, and Christian Stocker, the Federal Chancellor, Austria.

Sitharaman and Wolfgang Hattmannsdorfer, Austrian Minister for Economy, Energy and Tourism, will co-chair a session with key Austrian CEOs to apprise them of existing and upcoming opportunities in India for deeper investment collaboration between the two countries.