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Jersey Finance Visit to India

Monday 16^th November - Friday 20^th November

The recent election win by the Congress party reaffirmed that India’s reform agenda will continue with  an expected GDP growth in 2009 of 7%.  The recent elevation in status at the G20, the BRIC gathering at Yekaterinburg, and the observer status achieved at the G8, all signal that India continues on track to develop into the worlds third largest economy.

Indian businesses and high net worth individuals continue to pursue a diversification strategy in their overseas interests, and this trend has been further boosted by currency depreciation in the west, coupled with falls in asset prices, providing real value creation opportunities.

We were delighted therefore to announce our third visit to India, led by Geoff Cook and Christine Whitfield which took place from 16^th – 20^th November in Mumbai and New Delhi. The delegation for the visit included Senator Philip Ozouf, Treasury Minister for the States of Jersey and John Harris, Director General of the Jersey Financial Services Commission.

OBJECTIVES OF THE VISIT

The objectives of the visit included:-

 o         Updating key contacts on the latest developments in Jersey and taking the opportunity to communicate our white list status, reinforcing the value and integrity of the Jersey proposition.

o         Promote the expertise in Jersey’s Finance Industry and its relevance to the Indian market. Focus on capital structuring for Indian business expansion into Europe and the management of private wealth, with a particular emphasis on Foundations.

o        Further progressing key partner relationships with visits planned to the Indian Government and Regulatory authorities, exploring treaty opportunities and regulatory cooperation and alignment.

MEMBER ROLE

The visit provided opportunities to attend Jersey Finance hosted presentations in each location. Members were invited to attend the hosted events where participation was important to promote and support Jersey as an International Finance centre. There were other opportunities to attend events put on by our Indian partners in the Indian Chambers of Commerce, and with IAN; the Indian Angels network. These events were clearly defined in the visit programme. Members were strongly encouraged to arrange their own business development meetings in each location.

 PROGRAMME

Full details of the programme and itinerary of the official party were as follows;

Sat 14th            Jersey / London - London / Mumbai

Sun 15th           Arrival in Mumbai

Mon 16th           Mumbai

Tues 17th           Mumbai

Wed 18th            Afternoon travel to New Delhi

Thurs 19th          New Delhi

Fri 20th              New Delhi / London overnight flight (21st)
Sat 21st              London / Jersey