New Delhi, Financial Services Secretary Vivek Joshi on Wednesday said increasing free trade agreements (FTAs) would be a key strategy to increase India's financial services exports.
Inaugurating a workshop on financial services at the FTA here, Joshi highlighted the important role of financial services in India's export strategy.
The workshop jointly organized by the Department of Financial Services (DFS) and Exim Bank brought together key stakeholders from government bodies and academia to discuss the complex dynamics of FTAs and the critical role of financial services in the new age FTAs.
Export-Import Bank of India (Exim Bank) said in a statement that India has significant potential to tap the growing demand for financial services globally, especially with the emergence of GIFT City as a major hub for financial services.
"In 2022-23, financial services exports to reach US$ 7.8 billion, registering a CAGR of 12.6 per cent during 2018-19 to 2022-23. The upward trend is expected to continue by 2023-24, with financial services exports "It will reach US$6.5 billion in the first three quarters," said Harsha Bangari, managing director of Exim Bank.
The objective of the workshop is to promote a deeper understanding of the role of financial services in the context of FTA negotiations and their implications for global trade and economic growth.
Inaugurating a workshop on financial services at the FTA here, Joshi highlighted the important role of financial services in India's export strategy.
The workshop jointly organized by the Department of Financial Services (DFS) and Exim Bank brought together key stakeholders from government bodies and academia to discuss the complex dynamics of FTAs and the critical role of financial services in the new age FTAs.
Export-Import Bank of India (Exim Bank) said in a statement that India has significant potential to tap the growing demand for financial services globally, especially with the emergence of GIFT City as a major hub for financial services.
"In 2022-23, financial services exports to reach US$ 7.8 billion, registering a CAGR of 12.6 per cent during 2018-19 to 2022-23. The upward trend is expected to continue by 2023-24, with financial services exports "It will reach US$6.5 billion in the first three quarters," said Harsha Bangari, managing director of Exim Bank.
The objective of the workshop is to promote a deeper understanding of the role of financial services in the context of FTA negotiations and their implications for global trade and economic growth.
