Dubai, UAE- 12 April 2015

Dubai International Financial Centre (DIFC) today welcomed a government delegation from India led by the Minister of State for Finance Jayant Sinha. 

Looking to acquire DIFC's best practices in creating a successful financial hub with world-class infrastructure, the delegation was hosted by His Excellency Essa Kazim, Governor of Dubai International Financial Centre. HE Jayant Sinha was accompanied by Anurag Bhushan, Consul-General of India and T P Seetharam, the Indian Ambassador, among others. In addition, representatives from DIFC Authority, Dubai Financial Services Authority and DIFC Courts, as well as several leading Indian banks domiciled in the financial hub were also present to greet the delegation, which include Axis Bank, ICICI Bank, State Bank of India, Bank of Baroda, Union Bank of India and HDFC Bank.

As part of the knowledge sharing session, His Excellency Kazim provided an overview of DIFC's excellence in aligning corporate strategies to ensure seamless expansion across the Middle East and Africa (MEA) region.  Commending the excellent financial relations shared by India and the UAE, he called for the continued exchange of expertise and intelligence on best financial and legal practices endorsed by the two countries.

The delegation toured the Dubai International Financial Centre premises with special emphasis on DIFC Courts to gain an insight into the legal systems and international standards adopted by the world-renowned financial hub.

Commenting on his visit, Jatyant Sinha, Minister of State for Finance, Government of India said: "I am happy to visit DIFC which is a successful model of an International Financial Centre. I am indeed grateful for the meeting and the generous hospitality of Governor, HE Essa Kazim."

"In India, we are currently working on creating India's first smart city- which is also an International Financial Centre- GIFT (Gujarat International Financial and Tech city).  I was happy to share my thoughts with DIFC officials regarding this new project and also understood the basic structure of DIFC and key components. We look forward to active cooperation from our DIFC counterparts to help us make GIFT a success," Sinha added.

His Excellency Essa Kazim said: "We are extremely pleased to host the Indian delegation. It is indeed an honour to share our expertise with the Indian government and contribute to the country's efforts in countering complex financial challenges. Today's engagement presented us with an opportunity to establish greater synergies and share best practices for the wider benefit of the communities in both countries."

He added: "The UAE and India share a mutual vision of working towards sustainable economic growth. Over the past 10 years, DIFC has recorded phenomenal progress and the contribution of Indian companies to this journey has indeed been noteworthy."

-Ends-

About Dubai International Financial Centre
The Dubai International Financial Centre (DIFC) is the financial hub for the Middle East, Africa and South Asia, providing a world-class platform connecting the region's markets with the economies of Europe, Asia and the Americas. It also facilitates the growth in South-South trade and investment. An onshore, international financial centre, DIFC provides a stable, mature and secure base for financial institutions to develop their wholesale businesses.

The Centre offers all the elements found in the world's most successful financial industry ecosystems, including an independent regulator, an independent judicial system with a common-law framework, a global financial exchange, inspiring architecture, powerful, enabling support services and a vibrant business community. The infrastructure within the district features ultra-modern office space, retail outlets, cafes and restaurants, art galleries, residential apartments, public green areas and hotels.

Located midway between the global financial centres of London in the West and Singapore in the East, DIFC (GMT +4) fills a vital time-zone gap with a workday that bridges the market and business hours of financial centres in both Asia and North America.

Currently, more than 1,225 active registered companies operate from the Centre, including 21 of the world's top 25 banks, 11 of the world's top 20 money managers, 7 of the top 10 insurance companies, and 9 of the top 10 law firms. Nearly 18,000 people work in the Centre.

DIFC continues to pursue expansion into new services and sectors within the Middle East, Africa and South Asia region, an area comprising over 72 countries with an approximate population of 2.8 billion and nominal GDP of US$ 6.9 trillion.

For further information, please visit our website: www.difc.ae, or follow us on Twitter @DIFC.

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© Press Release 2015