Lord Sassoon, Commercial Secretary to the Treasury, has launched a UK financial services guide in Mumbai as a response to the interest of Indian banks and financial firms, keen to set up businesses in the UK.

Speaking at the Federation of Indian Chambers of Commerce and industry (FICCI) and Indian Bankers Association (IBA) Banking Conference in Mumbai, Lord Sassoon said that London had much to offer as a financial capital, including access to other European markets, and called on Indian banks to establish themselves even more prominently across the UK.

Lord Sassoon said that the UK remains a global hub for banking and financial services and that the UK wants to attract the best of global finance to London.

He said: “This Government has made some key changes to its international priorities. We are determined to support India’s rapid growth and development. Openness to trade and investment must be at the heart of this relationship.