Guernsey's position as a leading international finance
centre for funds, listings and private wealth services was
reinforced at the International Taxation Conference in India
earlier this month.
The three-day event in Mumbai, which was attended by more than
400 delegates, formed a key part of the visit to the country for
Fiona Le Poidevin, Chief Executive of Guernsey Finance - the
promotional agency for the Island's finance industry, who
presented a session at the conference on how Indian clients can
benefit from Guernsey's financial services expertise.
Miss Le Poidevin was joined for her presentation by Raj Ganguly,
Managing Director of RKG Consulting, who has been advising
India-based companies and individuals on doing business and
investing internationally for more than 25 years. During the
presentation, Mr Ganguly shared his experience of working with
Guernsey service providers.
Miss Le Poidevin said: "The conference was very well
attended and provided a great opportunity to continue spreading the
Guernsey message and to build on our contact base in India. It was
extremely beneficial that Raj was able to provide first-hand
insight into the advantages of using Guernsey. This includes our
proportionate and robust regulation that is practical and sensitive
to business needs, our skilled and internationally-minded workforce
and the Island's entrepreneurial rather than bureaucratic
approach to doing business.
"We feel that Guernsey's funds industry, with its
considerable experience in infrastructure funds and raising capital
through European markets, is well placed to assist India with the
challenges it faces in its ongoing development. For example. the
India Capital Growth Fund, Indus Gas, Kolar Gold, Skil Ports &
Logistics and Mytrah Energy Limited are all Guernsey-incorporated
entities which are currently listed on the Alternative Investment
Market of the London Stock Exchange. With optimism surrounding the
country's elections coming up in 2014, we hope our track record
to date will be an advantage as the Indian economy continues to
build towards the future."
Miss Le Poidevin also held a series of meetings with a number of
financial services firms and business representative organisations
She said: "It was a very encouraging week in Mumbai. There
were clear signs that India and Guernsey can significantly build on
their current relationship, particularly in terms of fund
structuring and wealth management services. We appreciate that this
will take time but we are committed to raising our profile in the
country and building on the progress already made, as demonstrated
by those investment funds listed on the LSE through Guernsey
companies which invest into India, across a cross section of
industries spanning energy, logistics and mining."
The first official delegation from Guernsey visited India in
2010. Since then, regular visits have taken place in order to
continue building relationships and raising the Island's
profile in the country. The Guernsey Government signed a Tax
Information Exchange Agreement (TIEA) with the Indian Government in
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