India, UK explore investment cooperation in several areas

India to explore LSE as an international destination for direct listing of its firms

- Rajeev Jayaswal

India and the UK are exploring greater investment cooperation in several areas, including direct listing of Indian firms in the London Stock Exchange (LSE), facilitating British pension funds to invest in India, collaborating in infra projects, and expeditiously finalising a bilateral investment treaty which is an important part of a proposed comprehensive free trade agreement (FTA), according to the finance ministers of the two countries.

After the conclusion of the 12th India-UK Economic and Financial Dialogue (EFD), UK's Chancellor of the Exchequer Jeremy Hunt said India has confirmed that it will "explore" LSE as an international destination for the direct listing of Indian companies, and also unveiled a new pension and insurance partnership.

"We can really support each other's plans to strengthen our relationship," Hunt said, adding that the next stage is a comprehensive FTA and a bilateral investment treaty (BIT) on which discussions are ongoing.

The 12th EFD between the countries was co-chaired by Nirmala Sitharaman and Hunt.