New Delhi [India], August 25 (ANI): The British Virgin Islands (BVI) is looking to deepen financial services, investment, trade and legal cooperation with India, with Premier and Finance Minister Natalio D Wheatley saying the territory wants to build a strategic partnership and develop stronger cross-border investment linkages.
The issue came up during a high-level interaction hosted by the Society of Indian Law Firms (SILF) in New Delhi on Tuesday, where a BVI delegation led by Wheatley and Financial Services, Economic Development and Digital Transformation Minister Lorna Smith, OBE, held discussions with members of the Indian legal fraternity.
Wheatley said the visit marked the BVI’s first trade mission and dedicated roadshow to engage with India’s financial services agencies and markets. He said the relationship between India and the BVI goes back around 20 to 25 years, with BVI financial services having supported India’s international investment efforts.
As Indian businesses expand globally and investors increasingly look overseas to invest and raise capital, the BVI could play a greater role in supporting India’s financial architecture and cross-border trade, Wheatley said.
He also proposed greater professional cooperation between the two jurisdictions, including bringing more Indian legal practitioners into the BVI’s global network and exploring partnerships with institutions such as GIFT City to develop a dedicated BVI-India investment corridor and gateway.
The discussions covered trade and commerce, investment and cross-border legal cooperation, besides emerging issues such as investment protection in the age of artificial intelligence, ESG and energy transition.
Smith said the BVI’s financial services ecosystem has a global footprint, with BVI-linked firms and professionals operating across jurisdictions including Switzerland, Dubai, Panama, Hong Kong and Mauritius. She also identified FinTech as a key area for cooperation and said India’s UPI payment system was of particular interest to the BVI.
“We are keen to learn more from India’s experience in building this ecosystem,” Smith said, adding that discussions with the Government of India had already opened avenues for greater cooperation and capacity building.
SILF President Lalit Bhasin said stronger legal and economic linkages were essential for a connected global economy and described the BVI delegation’s visit as a timely step towards greater mutual cooperation.
SILF General Secretary Rohit Kochhar was among the senior members of the Indian legal fraternity who participated in the interaction. Other SILF members present included Senior Vice-President Ravi Nath and Vice-Presidents Anand S. Pathak, Rajesh Narain Gupta and Sudhir Mishra.
The BVI delegation included Kenneth Baker, CEO and Managing Director of the BVI Financial Services Commission; Ayana Glasgow, Director of Financial Services, BVI Government; Rhodni Skelton, Director of Marketing and Business Development, BVI Finance; and Ricardo Wheatley, Director, BVI Government, BVI Hong Kong Office. (ANI)
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