Notwithstanding the impasse over the Brexit, the visiting Lord Mayor of the City of London Alderman Charles Bowman says the UK will continue to enjoy its pre-eminence in the financial services. In an interview with Sanjay Jog, Bowman said the relationship between India and UK will continue to spur in financial services, financial technology innovations, infrastructure among others.

Maharashtra government proposes to develop Mumbai as a fintech capital. How can you contribute?

There is a real sense of energy in this great city. Mumbai is a mega financial capital of India and it is in the midst of developing as a technology and fintech centre. The relationship with the UK is quite a natural one. I met the state principal secretary of information technology SVR Srinivas and we talked about how to work together. In Mumbai, I have meetings with the government, the RBI, the Sebi and the industry leaders to explore how the City of London Corporation can work together more closely.

UK Department for International Trade (UK DIT), the start-up accelerators 91SpringBoard and IvyCamp and HDFC Bank have launched the Accelerator Engagement Programme (AEP) which lays focus on the creation of a mutually beneficial ecosystem with relevant players in the start-up and fintech space.

I am an ardent cricket follower. I have got a delegation of 11 players with me and I am confident that my team will score hundred.

Is regulatory environment conducive for tie up?

I am meeting with financial regulators to discuss common challenges and cooperation on a range of areas including fintech. London is successful in the fintech sector due to a healthy regulatory environment. London in particular and the UK, in general, can help develop market access to players from India. Similarly, Mumbai and India can provide market opportunities for UK players. There is room for continuous engagement and promote fintech innovation links between the City of London and India and also champion the dynamic fintech sector and ecosystem.

How London has emerged as the market choice for Indian international bond issuance?

London is the home of global capital. Over 2 billion pound in masala bonds by Indian companies have been listed on the LSE. Over the past two years, Indian issuers through masala, green and dollar bonds have raised over 6.5 billion pound.

India needs huge investment in infrastructure. How the UK can associate?

London, in particular, can support not only capital but offer services in design, project management, accounting. It is a big opportunity for India.

Will the uncertainty over Brexit turn out to be a spoiler to further spur UK-India relationship?

No. It should not. We are not arrogant neither we are complacent. We are quite confident that when we get the right deal, UK will remain a pre-eminent destination for financial services. The UK will also remain a partner of choice for India in the fintech sector. Our fundamentals are strong and they are very hard to replicate.