India, U.K. need to simplify their regulatory mechanisms: London’s Lady Mayor
London’s Lady Mayor Dame Susan Langley emphasized the need for India and the U.K. to simplify their regulatory mechanisms during her visit to India. She highlighted the importance of understanding each other’s markets in the context of the upcoming India-U.K. Free Trade Agreement. Langley also noted the potential for British insurance companies in India and advocated for diversity in the financial services sector.
- ▪Dame Susan Langley called for simplification of regulatory mechanisms between India and the U.K.
- ▪She emphasized the need for better understanding of each other's markets to facilitate the Free Trade Agreement.
- ▪Langley praised India's Aadhaar system but stated the U.K. would not adopt a similar approach.
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“India and the United Kingdom need to simplify their complex regulatory mechanisms,” London’s Lady Mayor Dame Susan Langley told The Hindu.The comments are significant on the background of the India-U.K. Free Trade Agreement (FTA) which will be effective soon. During her maiden visit to India, the international Ambassador for the U.K.’s financial and professional services sector, emphasised on the need for both the countries to understand each other’s markets more strategically, and discussed the barriers for the rolling out of the FTA. India-UK FTA likely to be operational from May 1: Piyush GoyalShe lauded India’s Aadhaar experiment but added that the U.K. will not walk that path, though it is looking for a universal identification system.
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