Union Minister for Finance and Corporate Affairs Smt.
@nsitharaman met Ms. Shriti Vadera, Chair of Prudential PLC
@prudentialplc, in London, today.
The Union Finance Minister mentioned the growth in insurance sector in India owing to the reforms in FDI policy, and emphasised on the need to focus on reinsurance and third party insurance in addition to health insurance and other products.
FM Smt.
@nsitharaman apprised Ms. Vadera of the opportunities in India’s maiden International Financial Services Centre
@IFSCA_Official at
@GIFTCity_ and encouraged
@prudentialplc to explore deeper engagement with the ecosystem there, including in areas such a global reinsurance services as well considering GIFT City services for global fund management for investing in India.
Ms. Vadera informed the Union Finance Minister about
@prudentialplc's upcoming venture in the health insurance space in India and spoke about engaging more with
@GIFTCity_ for exploring #
investment# and fund management opportunities in India.
FM Smt.
@nsitharaman also underlined the potential areas for collaboration between UK and India, especially in the domain of #
business# and #
investments#, and also including private equity and venture capital investments, asset management and financial services and insurance.
The interaction also involved discussions around the recent budget announcement including those related to supporting the expansion of India’s Global Capability Centres #
GCCs#.