UK PM Starmer: Britain Aims to Become India's Premier Fintech Partner as Bilateral Trade Doubles

UK PM Keir Starmer addressed the Global Fintech Fest at Mumbai's Jio World Centre, highlighting the strong fintech partnership between Britain and India.

Mumbai:

British Prime Minister Keir Starmer emphasized that India and the UK are global leaders in financial technology, noting that trade and services between the two nations have doubled in the past four years.

Speaking at the Global Fintech Fest in Mumbai, Starmer stated that the trade agreement between the two countries creates a foundation to enhance fintech partnerships further. He extended an invitation to Indian businesses to collaborate with the UK, expressing his hope that Britain would become India's preferred partner in finance and fintech sectors.

"The UK and India are natural partners here. We are both world leaders in fintech. We have the second and third-largest fintech sectors globally. Our trade and services have doubled over the last four years alone. And now our trade agreement provides a launchpad to go even further. We want the UK to be your number one partner of choice for finance and fintech. I'm here to extend an invitation to all of you to do business with Britain, to see the UK as your gateway to going global," the UK PM stated.

Starmer described the combination of UK's talent and creativity with India's vibrancy and promise as extraordinary.

"We are so committed to this because we see India's potential. This country holds the promise of the future in its hands as the world's biggest democracy, one of the world's largest and fastest-growing economies, with half of its population under 25 years old. The vibrancy and promise of this nation are clear, especially here in Mumbai. And when this all comes together with the UK's talent and creativity, with our institutions and entrepreneurs, it is an incredible combination," he added.

Earlier that day, Starmer announced new initiatives to strengthen bilateral cooperation with India across technology, education, and creative industries, reaffirming the deep partnership between the two nations.

During a press conference, he announced, "We are opening the UK-India Technology Security Initiative to boost opportunities for great British companies and deliver dozens of new investments into the United Kingdom, harnessing tech as one of the biggest engines that we have for jobs and for growth."

Highlighting key achievements from his visit, he mentioned that collaboration between India and the UK continues to expand into new areas.

"Other standout wins this week have come in filmmaking, with the announcement that three new Bollywood blockbusters will be made in the United Kingdom, and in education, with the announcement today that the University of Lancaster and the University of Surrey will open new campuses in India, joining other British universities setting up here, and making the UK India's top international education provider," Starmer said.

Starmer also advocated for a "hands-on" approach to implementing trade and investment deals between the UK and India, emphasizing that his government aims to work closely with industry leaders to ensure concrete results from the Free Trade Agreement and other bilateral partnerships.