BVI WOOS (AND WOWS) INDIA

The British Virgin Islands is ‘banking’ on a trade mission outreach to India to hopefully “serve as a gateway for Indian companies seeking access to global investment”, according to BVI Premier Dr Natalio Wheatley.

The Premier recently led a high-level delegation to the south-east nation, currently ranked as the sixth-largest global economy by nominal GDP and the third-largest by purchasing power parity (PPP).

The BVI government said the August 24th to 31st visit aimed to deepen the UK Overseas Territory’s financial services relationship with India by attracting new business, strengthening institutional relationships, and expanding the Territory’s presence in the Indian market.

It described the visit as a public-private financial services trade mission.

“The mission is expected to generate qualified business leads for BVI service providers, establish relationships with Indian regulators and financial institutions, increase awareness of the BVI’s financial services offering, and create opportunities for long-term partnerships,” the government stated.

It said the delegation will also promote the BVI’s expertise in corporate structuring, investment funds, private wealth, financial technology, and cross-border business.

Giving an address at one event in a four-city swing through India, BVI Premier Wheatley stated: “As many of you are familiar, the BVI’s financial products have been used since the early 2000s and remain a staple of the industry. BVI helped facilitate India’s early expansion into Asia, the Middle East, Africa, Europe, and the developing world. Those same investments allowed India access to capital, technology, and technical expertise, reinvested into the subcontinent. Within a decade, the BVI alone accounted for some 17 per cent of India’s outward investment flows. So, in truth, we are no strangers to the market. But today we are engaging with you as a reminder of the value of the BVI Brand to India’s investment ecosystem.”

Welcoming the BVI delegation, the Council of EU Chambers of Commerce in India (EU Chambers) - one of the organisations that met with the BVI delegation - said: “The session will provide an opportunity for EU Chambers and its member companies to present their key activities, ongoing initiatives, and areas of collaboration while engaging in meaningful discussions.”

It spoke of the attendees gaining ‘actionable insights’ into the British Virgin Islands’ (BVI) economic landscape, strategic priorities, and investment outlook.

At the end of that engagement, the Indian EU Chambers reported that the meeting provided an excellent platform to exchange perspectives and explore opportunities for trade, investment, business partnerships, and greater economic cooperation between India, the European Union, and the BVI.

“We look forward to building on these conversations and fostering stronger international business ties,” it added.

Premier Wheatley and Jr. Minister for Financial Services, Lorna Smith, also rang the bell to open a day’s trading at the National Stock Exchange of India (NSE).