Seventh Round of Ministerial Level India-UK Economic and Financial Dialogue (EFD) to be Held Tomorrow; Focus of Discussions on Macroeconomic Risks and Policy Responses, Infrastructure Financing and Trade and Investment Relations Between the Two Countries; Discussions on Financial Services and Regulations Among Others
Seventh (7th) round of Ministerial level India-UK Economic and Financial Dialogue (EFD) will be held here tomorrow. The Indian delegation for the EFD will be led by the Union Finance Minister, Shri Arun Jaitley while Chancellor of Exchequer Mr George Osborne will lead the UK delegation. UK delegation will also include Mr. Oliver Letwin, Minister of State for Government Policy in the Cabinet Office.
The discussions during EFD will focus among others on Macroeconomic Risks and Policy Responses. Besides it, both the delegation will also hold discussions on Infrastructure Financing and Trade and Investment relations between the two countries. Another major issue on the agenda of EFD includes discussions on Financial Services and Regulations among others.
In pursuance of Joint Declaration signed between the Prime Ministers of two countries on September 20, 2004, an India-UK Economic & Financial Dialogue was officially launched on 4th February, 2005 through signing of an agreement between then Finance Minister of India and Mr. Gordon Brown, erstwhile Chancellor of Exchequer of UK. The Dialogue comprises of annual Ministerial and Official level meetings to be held alternatively in UK and India. The objective of the Dialogue is to strengthen the financial and economic relationship between India and the UK, in the light of each country’s economic policy agenda and within a global economic perspective.
So far, six rounds of Ministerial level and four rounds of official level Economic and Financial Dialogue have been held between the two countries.
6th Ministerial level EFD was held on 16th May, 2013 in London which covered discussions on topics such as Macroeconomic Risks and Policy Responses, Trade and Investment Issues, Infrastructure Financing and Financial Services and Regulations.