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FM to meet UK Chancellor of Exchequer Osborne today

India and the United Kingdom will on Tuesday discuss issues related to macroeconomic risks and policy responses, infrastructure financing and trade relations between the two countries.
‘Seventh round of ministerial level India-UK Economic and Financial Dialogue (EFD) will be held on Tuesday. 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,’ an official statement said.

The Indian delegation for the EFD will be led by Finance Minister Arun Jaitley while Chancellor of Exchequer George Osborne will lead the UK delegation. In pursuance of joint declaration signed between the prime ministers of two countries on 20 September, 2004, an India-UK Economic and Financial Dialogue was officially launched on 4 February, 2005 through signing of an agreement between then Finance Minister of India and erstwhile Chancellor of Exchequer of UK Gordon Brown. So far, six rounds of ministerial level and four rounds of official level economic and financial dialogue have been held between the two countries, the statement said.

Earlier,  two of Britain’s seniormost ministers kicked off their India visit, underlining ‘good days are coming’ for investments by the two nations in each other’s economies. Secretary of State for Foreign Affairs William Hague and Chancellor of the Exchequer George Osbourne, heading the largest business and ministerial delegation ever, arrived in Mumbai, their first port of call, during a two-day visit to the country. Addressing the media, Osborne recalled Modi’s victory tweet Achche din aane wale hain  and said, ‘Good days are coming for Indo-British relationship.’

Osborne said he is leading the largest-ever business delegation as Britain wants to strengthen further the diplomatic ties and develop partnership in the economic sphere, especially in infrastructural and financial services. He said global sentiment has turned massively positive for India in the past seven weeks post Modi’s swearing-in.

‘It is a measure of the ambition and drive and pace of the new government of Prime Minister Modi that this complete turnaround in sentiment about the Indian economy has been achieved in just seven short weeks since that stunning election victory,’ Osborne said.
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