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British official arrives in Mumbai to promote FinTech sector

Xinhua, April 5, 2017 Adjust font size:

British Chancellor of the Exchequer Philip Hammond arrived in Mumbai on Wednesday to promote Britain's world-leading FinTech sector, officials said.

"Arrived in Mumbai where we are promoting Britain's world leading FinTech sector," Hammond wrote on twitter. "UK is well placed to be India's finance partner of choice."

The two sides would be exploring the feasibility of a Britain-India FinTech bridge.

Hammond is currently in India on a two-day visit, leading a trade mission to promote bilateral ties between the two countries.

He is accompanied by Governor of the Bank of England Mark Carney and government ministers.

On Tuesday, Hammond along with his Indian counterpart Arun Jaitley addressed the ninth Britain-India Economic and Financial Dialogue in Delhi.

Both countries agreed to set up a fund with corpus contributions of 149.35 million U.S. dollars each to finance India's rapidly growing energy and renewables market.

Britain is the world's largest exporter of financial services and the leading center for FinTech.

Both Britain and India have underlined the vital role of technology in improving the provision of accessible, secure, high-quality financial services. Endit