Starmer addresses CEO, Fintech fest calls for deeper fintech and technology linkages
MUMBAI: UK prime minister Keir Starmer, on his maiden visit to Mumbai as head of state, sought to reposition his country as a key economic ally, showcase the UK’s renewed economic confidence, and call for deeper fintech and technology linkages.Starmer said that the India-UK trade deal was a huge win for both nations and a huge statement of their shared belief in building the economies and skills of the future together. “Back in July, when we met in Chequers, we signed the historic UK–India Comprehensive Economic and Trade Agreement… It’s the biggest trade deal the UK has signed since leaving the European Union — and I believe it’s also the most ambitious trade deal India has ever concluded,” said Starmer.He was speaking at the Global Fintech Fest in Mumbai, which he attended alongside Prime Minister Narendra Modi, positioning the UK as India’s key partner in fintech innovation and building on the new India-UK trade pact to deepen technology, investment, and regulatory ties.Earlier in CEO interaction which included veteran banker Uday Kotak, Ajay Piramal, chairman, Piramal group, Sanjiv Puri of ITC, Nikhil Meswani from Reliance among others Starmer highlighted the productive engagement between UK and Indian businesses, noting that significant discussions often take place informally, “in corners of rooms, around tables, over food or drink.” He framed the visit as a continuation of the Chequers meeting and a celebration of the UK-India partnership, emphasising the diversity of his delegation, which included large, medium, and small firms across finance, tech, sport, and manufacturing. Starmer underlined the broad ambition of the engagement, citing deals in sectors from film to sports training, and stressed the solid trade foundation already supporting thousands of jobs.Starmer said that the UK was reigniting its economy for long-term growth by focusing on job creation, boosting wages, and supporting thriving communities across the country. “Since we came into government just over a year ago, we’ve attracted record investment and delivered the highest growth in the G7 in the first half of 2025,” he said.Beginning his speech with a line in Hindi, “Yahan aake bahut khushi,” Starmer said he was accompanied by 126 brilliant British businesses and leaders — the largest British business delegation in more than a decade, and the biggest ever to India. “We even had to switch to a larger plane to fit everyone on board. It shows how deeply business believes in this partnership.”Starmer drew on the 1913 collaboration between Cambridge mathematician G.H. Hardy and Srinivasa Ramanujan to illustrate how the two countries could work together. Their insights into prime numbers inspired the mathematical foundations of today’s encryption that secures online payments and banking. “We want the UK to be India’s number-one partner in finance and fintech… Wise has launched a new debit card in India; Tide has opened offices across India; HSBC is launching an innovation banking hub… Standard Chartered has opened a new global business services hub in Chennai.”He highlighted how Oxford, AstraZeneca, and the Serum Institute delivered over a billion doses of the Covid vaccine, and how GSK and Bharat Biotech developed the world’s first successful malaria vaccine. He also spoke of how British fintechs like Revolut, Wise, Tide, HSBC, and Standard Chartered are expanding in India, while Indian firms such as Razorpay, Perfios, Cred, and Paytm are venturing abroad, with Paytm eyeing investment in the UK.
