The UK can also help India improve insurance penetration in the country. During my visit I’ll be launching a new report that the City of London has written alongside PwC India, on how the UK and India can further work together in insurance, focussing on the potential for technology to revolutionise and streamline the industry.

In turn, there is a huge amount that the UK can learn from India. For example India Stack, the unified software platform behind Aadhaar is an incredible achievement, as is the government’s push towards ensuring financial inclusion through its Digital India initiative. Not to mention the recent announcement to increase health coverage across the country—an incredible initiative we will follow with keen interest.

Both our countries have so much to gain from working together on financial technologies, and indeed in other areas of financial services. As PM Modi himself has stressed, the City of London is of “great importance to India”, and will remain so. I wholeheartedly agree and look forward to hearing how we can take our relationship to the next level.

—The author is spokesperson for the City of London, including leading overseas business delegations to key international markets on behalf of the UK’s financial and professional services industry. He strengthens economic ties with the UK, identifies new business opportunities and promotes UK as a top global destination for foreign investment.