There is huge potential for collaboration in new and emerging areas of fintech, cyber security, Green finance and digitalisation, said Alderman Peter Estlin, Lord Mayor of London.

Estlin has years of experience as a trained chartered accountant and a financial expert as he had worked as partner for Coopers & Lybrand, as CFO of Solomon Brothers Asia and as CFO of Citi Group’s Investment and Corporate Banking divisions. He sees immense potential for India and Britain to work together and attract investments.

He was at T-Hub and later at ISB as part of his visit to Hyderabad, engaging in talks with start-ups and management students. In an exclusive conversation with BusinessLine he said there is a momentum gathering in collaborative engagements between India and Britain. “The UK and London have been major financial hubs making investments and attracting inbound investments and also serving as a base for a number of companies. We now look forward to take it to the next level by engaging start-ups, especially in the areas of fintech, cyber security and digitalisation,” he said.

“There is a growing emphasis on sustainable development and in London we have initiated a number of measures that work towards ensuring all-round development, while laying emphasis on sustainability. London was among first major cities to encourage electric vehicles and I myself have been using an EV for the past eight years. We have recently replaced the London Municipal fleet by electric vehicles,” he said.

Referring to potential of London as a platform for Green finance or for facilitating companies with equity financing or through masala bonds or green bonds, Estlin said the London Stock Exchange, including its AIM, provides opportunities to list and grow. “We have also engaged in talks with the BSE.”

Stating that State Bank of is having offices in London from the turn of the century, he said there is potential for working together with the bank and engaging in investments in start-ups in the areas of fintech and cyber security.

Citing the example of iProov, a company that facilitates facial recognition and works with the US Homeland Security and in the UK, the Lord Mayor said that there are many companies which could connect for business-to-business engagements.

On his visit to Indian cities, he said, “My mission is to work as an ambassador to help the UK companies to step up their presence in India and Indian companies to grow in the UK.”

On reports suggesting that India is in for recession, he said: “There are economic spikes and there are times it goes through lows. We take them in our stride as some segments do well while others pass through tough times. India is growing at 5-6 per cent. This in itself is big achievement.”