UK Finance Minister Rishi Sunak praised the new ambitious India-UK initiative in the fields of investment, trade, infrastructure, sustainable finance, and research. He also highlighted the role of the British capital market in India's infrastructure development, saying that the UK's strong capital market can contribute to India's infrastructure needs in many ways.
Indian-origin British Finance Minister Rishi Sunak was speaking at the 10th Indo-UK Economic and Financial Dialogue Program. The new partnership on infrastructure policy and funding, he said, would help private capital flow into India's ambitious National Infrastructure Pipeline (NIP).
He said that the new long-term financial platform would strengthen the financial partnership between the two countries. According to a high-level workforce, India's NIP has targeted a $ 1,11,000 billion investment in the infrastructure sector during 2020-25.
Speaking at the summit from the video conference, he said, long-term finance develops important relationships between the two countries. In the next 20 years, India is estimated to need $ 4,500 billion in investment in sustainable infrastructure sectors, and the British capital market can contribute significantly.