(Bloomberg) -- Chancellor of the Exchequer Philip Hammond will visit Delhi and Mumbai Tuesday and Wednesday as the U.K. seeks to build on its trading relationships in preparation for quitting the European Union.
Hammond will lead a delegation including Bank of England Governor Mark Carney and Andrew Bailey, Chief Executive Officer of the Financial Conduct Authority, for talks hosted by Indian Finance Minister Arun Jaitley.
Philip Hammond and Arun Jaitley in New Delhi on April 4.
“As we prepare to leave the European Union, it is more important than ever that we strengthen our relationship with India,” Hammond said in an email. “Our trade and investment relationship is already strong -- the U.K. has been the largest G20 investor in India during the last 10 years and India is a leading global investor in the U.K., creating over 7,000 new jobs last year alone, but there is much more we can do.”
Britain has invested more than 19 billion pounds ($24 billion) in India since 2000 and Indian companies operate in fast growth sectors in the U.K. including technology and telecoms, pharmaceuticals and financial services, the Treasury said as it sought to underline the importance of links between the two countries.
Greater co-operation in energy and renewables, fintech and financial regulation will be announced during the visit, the Treasury said.
To contact the reporter on this story: Thomas Penny in London at tpenny@bloomberg.net.
To contact the editors responsible for this story: Alan Crawford at acrawford6@bloomberg.net, Robert Jameson
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