City of London launches India Advisory Council

Mumbai, Feb 21 (UNI) Acknowledging Mumbai's importance as India's financial capital, the City of London today announced that Mr Mukesh Ambani (Chairman of Reliance), Mr K V Kamath (CEO of ICICI Bank), Mrs Naina Lal Kidwai (CEO HSBC), Ms Zia Mody (Senior Partner of AZB&Partners), Mr Nasser Munjee (Chairman of Development Credit Bank) and Mr Deepak Parekh (Chairman of the HDFC Group) would contitute its Advisory Council for India.

The City of London's Policy Chairman, Mr Michael Snyder told newsmen here today that,''The move is a clear indication that the U K sees India's increasing importance in the emerging global economy and the City acknowledges Mumbai's importance as India's financial and business capital. The Council is a key plank in the City's support for greater financial services links with one of the world's most important economies and will guide the activities of the City's soon to be established liaison Office in India.'' ''The overall aim of the City of London's engagement with India is to strengthen trading and investment links in both directions between India and the UK through the provision of world class financial services and products. The liaison Office to be set up will promote services of the City to Indian public and private sector businesses, including the raising of capital, insurance, asset management, infrastructure finance and consultancy and access to the exchanges of London'', Synder said.

It will also facilitate the business development of City firms, gain and disseminate information on market opportunities, identify barriers to market access, promote the UK as a preferred destination for representation and investment and support visits by Indian decision-makers to the UK, he added.

UNI