World news story
UK - India can be an ‘Unbeatable Combination’ in skills and training
Responding to the Indian government’s 'Skill India' campaign, a delegation of British professional qualification providers will visit India this week.
The UK Trade and Investment (UKTI) team in India will lead representatives of the high-powered organisations on a tri-city visit to Delhi, Mumbai and Ahmedabad from 12-15 October. The delegation includes the Chartered Institute of Management Accountants (CIMA), Chartered Institute for Securities and Investment (CISI), Chartered Insurance Institute (CII), Association of Chartered Certified Accountants (ACCA), Institute and Faculty of Actuaries (IFoA) and International Association of Book-Keepers and Accounting Professionals (IAB, IAAP).
With India’s renewed growth trajectory, there is a greater demand for professionally qualified staff. Demand for professionally qualified staff in India significantly outstrips supply. The UK is a world leader in providing educational resources from pre-school to university and beyond. Qualifications and learning offered by these UK institutes are recognised by employers around the world. The UK also has a global reputation for financial services and London is the world’s most important financial centre.
Kumar Iyer, British Deputy High Commissioner Mumbai and Director General of UK Trade and Investment in India said:
The UK’s financial and professional qualification providers have already been active in India in areas such as accounting, insurance and wealth management. They have worked with Indian regulators, industry bodies and their Indian counterparts to develop qualifications tailored to the Indian market.
The UK and India are in Prime Minister Mr. Modi’s words an ‘unbeatable combination’ and financial services, skills and training can be a key area of ‘GREAT Collaboration’ between our two countries.
India’s financial services industry is entering a new phase of growth, which is good for the economy. With a view to equip the country’s next generation of financial service professionals, India can take advantage of the UK’s expertise in financial services and skills sectors.
The India - UK financial partnership (IUKFP) was announced by the Chancellor of the Exchequer and the Finance Minister – Arun Jaitley in July 2014. The partnership was created to examine priorities across the British and Indian financial and professional services industries, and recommend how we can improve cooperation between our governments. Financial training and qualifications is an important work-stream under the partnership.
The delegation will begin their tri-city visit in Delhi where they will meet the Indian Institute of Corporate Affairs and other private corporate and educational institutes. The delegation will also visit the GIFT city in Ahmedabad, India’s first International Financial Centre, and financial regulators SEBI and RBI, and the Centre for Advanced Financial Research and Learning (CAFRAL) in Mumbai. They will also meet officials from State Bank of India, Aditya Birla group and educational institutes – H R College and Manipal Institute of Banking and Finance.
India-UK financial partnership (IUKFP) was launched by the UK Chancellor of the Exchequer George Osborne and the Indian Finance Minister Arun Jaitley to deepen financial services links between India and the UK and strengthen cooperation between London and Mumbai as financial centres. Uday Kotak, Executive Vice Chairman and Managing Director of Kotak Mahindra Bank and Sir Gerry Grimstone, Chairman of Standard Life are the industry leads.
GREAT for Collaboration: The UK is one of the pioneers in responding to PM Modi’s call to ‘Make in India’ by launching ‘GREAT for Collaboration’, an ambitious and exciting new campaign to showcase India-UK business collaboration. The campaign, launched by Prime Minister Modi and Prime Minister Cameron, will inspire new partnerships and encourage greater awareness of the scale of the UK’s commitment to India. The overall objective is to increase business between the two countries.
For media queries, please contact:
Stuart Adam, Head,
Press and Communications
British High Commission, Chanakyapuri
New Delhi 110021
Tel: 44192100; Fax: 24192411
Mail to: Jagori Dhar