- Saturday, April 12, 2025
Finance minister Nirmala Sitharaman held talks with British chancellor Rachel Reeves and discussed the progress of the India-UK Free Trade Agreement negotiations
By: India Weekly
INDIA is exploring the feasibility of allowing its companies to list on the London Stock Exchange, the finance ministers of India and Britain said in a joint statement after a meeting on Wednesday.
“Both sides acknowledge the opportunities that overseas equity listings offer to broaden access to global investors and enhance liquidity,” the statement said.
The move could help mitigate the sagging fortunes of the exchange, where 88 companies delisted or transferred their primary listing from the primary market in the UK in 2024, according to auditing giant EY.
This is the highest tally since 2009, and many firms cited declining liquidity and lower valuations as key reasons for moving away from London, particularly to the US, EY added.
Finance minister Nirmala Sitharaman held talks with British chancellor Rachel Reeves, who received the former at her 11 Downing Street office in London.
Progress of the India-UK Free Trade Agreement negotiations were among the topics on the agenda of the meeting, which came ahead of the 13th UK-India Economic and Financial Dialogue (EFD).
Sitharaman told PTI ahead of the dialogue that closer cooperation between the financial sectors of the two countries and stronger educational ties to welcome UK universities into India were among the areas of focus for the discussions.
The EFD is a significant bilateral platform between the two countries encompassing various aspects of financial collaboration, including investment matters, financial services, financial regulations, UPI interlinkages, taxation matters and illicit financial flows.
“We will be covering the topics of growth and global issues, as well as how we can unleash potential across various sectors and defence to create jobs, investment and trade opportunities, as part of the government’s Plan for Change,” said the UK Chancellor of the Exchequer.
India and the UK have been negotiating an FTA for over two years, pursued by the Starmer-led Labour government after a hiatus to accommodate the general election cycles in both countries last year.
The trade deal is expected to significantly enhance the bilateral trading relationship between the two countries.
Sitharaman welcomed the UK government’s “enthusiasm” around the trade deal and expressed hope that it will be signed “sooner rather than later”. (Agencies)
