London, 26th July 2023 - The Founder and CEO of Interpolitan Money, Rishi Patel, had the privilege of receiving an exclusive invitation to participate in a pivotal roundtable discussion on "Entrepreneurship, Business, and the UK-India Living Bridge" held at No10 Downing Street.
The event, hosted by Myles Stacey OBE, special advisor to Prime Minister, Rishi Sunak, brought together prominent business leaders from the UK to exchange valuable insights and thoughts on the recently concluded eleventh round of negotiations of the UK-India Free Trade Agreement (FTA).
The roundtable centred around vital topics related to capital movement, particularly examining the trends of Indian businesses seeking to invest in countries like the UK, which would create new jobs and growth.
A significant focus was placed on understanding the complexities and opportunities surrounding the movement of funds out of India, which is notoriously challenging outside of the Liberalised Remittance Scheme (LRS).
The Liberalised Remittance Scheme (LRS), regulated by the Reserve Bank of India (RBI), empowers Indian residents and corporations to transfer money offshore for various purposes within the guidelines defined by the regulations. However, these guidelines vary significantly for Indian individuals and businesses.
Over the past 20 years, the Indian economy has undergone significant changes, offering a wide range of investment opportunities for Indian companies and venture capitalists to explore in the UK and worldwide markets.
This shift has led to an increasingly recognised potential for strengthened economic ties and cross-border collaborations between the UK and India.
The roundtable emphasised the importance of continuing the conversation with UK business leaders to understand the intricacies of global financial systems and their commitment to fostering meaningful partnerships between the UK and India.
Rishi Patel, the Founder and CEO, stated that it is an honour to be recognized as one of the top financial service providers offering valuable insights and engaging in meaningful discussions. This recognition is a testament to the hard work that the company is putting into developing its services around LRS. There has been a significant increase in the number of Indian clients seeking investment and growth opportunities in the UK and other international markets. There is immense potential in various sectors such as VCs, Fintech, to Life Sciences. However, navigating complex international trade and addressing issues with local and global banking challenges can be daunting. Despite these challenges, Interpolitan Money remains committed to assisting its clients in successfully managing the flow of funds through LRS and our alternative banking solutions.
By providing insights into the challenges and opportunities faced by businesses operating in this dynamic landscape, Interpolitan Money aims to shape the focus on the importance of reaching an agreement on the UK-Indian FTA.
For further reading on LRS: Decoding Liberalised Remittance Scheme
About Interpolitan Money Plc:
Interpolitan Money is a leading financial services firm known for its expertise in alternative banking solutions, supporting clients with cross-border investments and international growth. With a distinguished track record in empowering businesses and individuals to navigate the complexities of global financial markets, Interpolitan Money stands at the forefront of promoting economic growth and fostering international business collaborations. Interpolitan Money has recently been recognised for being one of the 100 fastest-growing, founder-led, privately owned businesses in the UK.
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Interpolitan Money a truly global alternative banking solution
Interpolitan offer a comprehensive alternative banking solution, utilising cutting-edge technology to handle multi-currency accounts from beginning to end, allowing clients to pay, collect and hold funds in 55+ currencies from 160+ countries.
Client funds are held in designated, safeguarded bank accounts, with tier 1 banking partners.
Client accounts opened within 7- 10 working days.
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