Finance Minister Nirmala Sitharaman and United Kingdom Chancellor of the Exchequer John Healey on Thursday, 15 October 2026, held bilateral talks on the sidelines of the annual IMF-World Bank meetings in Bangkok, reaffirming both nations' commitment to deepening economic and financial cooperation. The meeting signals renewed momentum in the India-UK economic partnership ahead of the next formal dialogue round.

14th EFD and Key Collaboration Areas

Sitharaman conveyed that India looks forward to the 14th Economic and Financial Dialogue (EFD) with the UK, with proposed collaboration spanning critical minerals, green technology, and city-region partnerships. Both sides confirmed that the next EFD would be held in December, according to a Finance Ministry statement. The two leaders also reviewed the successful conclusion of the 4th India-UK Financial Markets Dialogue, FinTech meetings, and associated India-UK Financial Partnership (IUKFP) meetings, building on outcomes of the previous EFD.

Financial Services and Industrial Strategy

Financial services emerged as a focal point, with both governments acknowledging the sector as a key opportunity within the bilateral economic partnership. Both sides welcomed the increase in UK-India financial services trade in recent years and committed to growing it further. The Financial Markets Dialogue (FMD) held at GIFT City IFSC, India, in December 2024, had earlier deepened cooperation across banking, insurance, pensions, capital markets, and sustainable finance.

Notably, during the previous EFD, the UK side presented its forthcoming Industrial Strategy, identifying sectors where the partnership can drive growth — including advanced manufacturing, life sciences, clean energy, professional and business services, financial services, creative industries, and defence. The UK's research capability and expertise in these fields is seen as complementing India's emerging role as a global manufacturing hub.

Defence Industrial Roadmap on the Horizon

Both sides also expressed anticipation for the signing of the India-UK Defence Industrial Roadmap, which is intended to strengthen ties between the two countries' industrial sectors and support supply chains. This development places defence cooperation alongside economic and financial engagement as a pillar of the bilateral relationship.

Sitharaman's Bangkok Engagements

Sitharaman is on an official visit to Bangkok from 14 to 18 October to attend the annual meetings of the International Monetary Fund (IMF) and the World Bank Group, alongside meetings of G20 and G7 Finance Ministers and Central Bank Governors. The Finance Ministry said the visit will offer opportunities to exchange perspectives on the global economic outlook, development priorities, and international financial cooperation. The bilateral meeting with Healey is one of several engagements on her sidelines schedule. How the outcomes of Bangkok translate into signed agreements and sectoral timelines at the December EFD will be closely watched.