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Prime Minister Narendra Modi met his UK counterpart Rishi Sunak on Saturday, during the latter’s first visit to India as PM, on the sidelines of the G20 Summit in New Delhi.īoth leaders have also reviewed the progress of Free Trade Agreement negotiations and expressed hope that the remaining issues could be addressed at the earliest. The Digital Personal Data Protection Act, 2023 recognises the rights of individuals to protect their personal data and the need to process personal data for lawful purposes. Sitharaman said there are ample opportunities for India and the UK to collaborate on frameworks for secure and inclusive financial intermediation especially in emerging technologies such as artificial intelligence and machine learning that are redefining financial services apart from India’s new Digital Personal Data Protection Act. UK’s Hunt said that he viewed India as Asia’s Silicon Valley, and the UK as Europe’s Silicon Valley, and there’s “a huge amount of work we can do together." “We are highly encouraged by the intensified collaboration between India and the UK in the area of financial services." She said the UK is also interested in increasing its presence in GIFT city. “We remain committed to collaborate, deliberate and innovate to navigate the challenges, and seize the opportunities that lie ahead for both nations." The infrastructure financing bridge, a collaboration between the Niti Aayog and City of London Corporation, aims to harness their expertise to implement major infrastructure projects. Sitharaman said India and the UK want to conclude the FTA talks “as soon as possible." However, they can list on international exchanges using instruments like depository receipts. Indian businesses are currently not permitted to list directly on international exchanges.
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