FCA Exchanges Letters on Cooperation with India Regulator, IFSCA
•February 16, 2026
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Why It Matters
The agreement deepens UK‑India regulatory collaboration, opening pathways for cross‑border investment and expanding market access for both financial ecosystems.
Key Takeaways
- •FCA and IFSCA formalize knowledge‑sharing partnership
- •Focus on GIFT City development and UK market links
- •Regulatory best practices to be exchanged between jurisdictions
- •FCA attaché to be posted in Mumbai 2026
- •Enhances UK’s strategic presence in Indian fintech hub
Pulse Analysis
GIFT City, India’s first international financial services centre, has rapidly become a magnet for global capital, offering a tax‑friendly environment and a regulatory framework designed to attract banks, insurers and fintech firms. By formalising a knowledge‑exchange agreement with IFSCA, the FCA positions the UK as a trusted partner in shaping GIFT City’s evolution, leveraging Britain’s deep regulatory expertise to influence standards that could ripple across emerging markets.
The exchange of letters outlines a structured programme for sharing best practices, ranging from risk‑management protocols to consumer‑protection mechanisms. Such collaboration promises to harmonise supervisory approaches, reduce compliance friction for firms operating in both jurisdictions, and foster innovation through joint research initiatives. For UK‑based institutions, the partnership offers clearer pathways to enter the Indian market, while Indian entities gain insight into the FCA’s rigorous supervisory model.
Posting an FCA Financial Services Attaché in Mumbai underscores the strategic intent to embed regulatory dialogue within the day‑to‑day business environment. The attaché will act as a liaison, facilitating real‑time information flow, supporting UK firms navigating Indian regulations, and advising Indian regulators on UK policy trends. This deeper presence is likely to accelerate cross‑border deals, stimulate fintech collaborations, and reinforce the UK’s role as a global financial hub in the post‑Brexit era.
FCA exchanges letters on cooperation with India regulator, IFSCA
We have signed an Exchange of Letters with the International Financial Services Centres Authority (IFSCA).
IFSCA is the unified regulator for financial institutions operating in Gujarat International Finance Tec‑City (GIFT City), India’s first international financial services centre.
This agreement affirms both authorities’ commitment to develop our regulatory relationship.
The letters set out the intention to share regulatory knowledge and best practice to support the development of financial services in both jurisdictions and to promote greater links between GIFT City and UK financial markets.
In addition to the Exchange of Letters, to help develop our relationship with India’s financial regulators we will be posting an FCA Financial Services Attaché to the British Deputy High Commission in Mumbai later in 2026.
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