21 February 2007
City of London launches India Advisory Council
Top Indian business leaders meet with Chairman Michael Snyder
for inaugural meeting
Mumbai, February 21, 2007: The City of London
today announced the names of six eminent Indian business leaders
who constitute its Advisory Council for India. The move is a
clear indication that the UK recognises 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 members of the Advisory Council met for the first time in
Mumbai this morning with City of London’s Policy Chairman, Michael
Snyder, attending. The Council is chaired by Alan Rosling,
Executive Director of Tata Sons, and aims to meet twice a year,
alternately in Mumbai and London. It will help to steer the work of
the City’s proposed Mumbai Office by providing expert input and
advice.
The other members of the Council are Mr Mukesh Ambani (Chairman
of Reliance), Mr KV Kamath (CEO of ICICI Bank), Mrs Naina Lal
Kidwai (CEO of 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). All these
distinguished personalities are renowned for their contribution to
the emergence of India Inc.
Announcing the setting up of the Council, Mr Snyder said: “I am
delighted that business leaders with such a wealth of experience
and knowledge have agreed to be on the City’s Advisory Council. We
have had a very useful interaction today, and I am looking forward
to what I am sure will be many more interesting and informative
meetings with them.
“The City of London’s job is to support the UK-based financial
services industry – and having access to expert advice on the
rapidly changing face of India’s economy is an essential part of
this.”
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 Office being set up in Mumbai will promote the 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. 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.
Mr Snyder is today hosting a seminar on "The City of London:
Your Gateway to Global Financial Services." The event, organised
jointly with the Bombay Chamber of Commerce and Industry (BCCI), is
for executives from the banking, insurance and financial services
industry. During his trip to Mumbai, Mr Snyder is also scheduled to
have meetings with - amongst others - the Reserve Bank of India,
HSBC, the National Stock Exchange and he is also to address the
Jamnalal Bajaj Institute of Management Studies.
Ends
Notes for editors
- The City of London Corporation supports the financial and
business City as the world's leading international financial and
business centre.
- While the City’s annually elected Lord Mayor travels the world,
facilitating links between the UK-based financial services industry
and fast-growing nations, the Chairman of Policy & Resources
works alongside the FCO, UKTI and the Treasury, building strategic
relations. The recent opening of overseas representations funded by
the City of London Corporation is one example of this policy work.
In addition to the Brussels City Office funded by the City of
London Corporation, the City also has three representative
presences in China, in Beijing, Shanghai and Shenzhen.
- Alan Rosling is an Executive Director of Tata Sons Limited, the
holding company of the Tata Group, headquartered in Mumbai. He has
lived in Mumbai since 1998. Prior to joining Tatas he was Chairman
of the Jardine Matheson Group in India.
- As well as providing local authority services to the Square
Mile, the City of London Corporation also provides many other
“extra” services to London and the UK, including running the Old
Bailey, the wholesale food markets and the Heathrow Animal
Reception Centre, Hampstead Heath, Epping Forest, the Barbican Arts
Centre and many other world-class facilities and
services.
For more details contact:
Anita Nandi india@cityoflondon.gov.uk
mobile: +91 9819660101
Rebecca Sandles, City of London Press Office
email