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Jersey outlines advantages of the finance industry during India visit

Posted: 18 March 2008

The President of the Indian Chamber of Commerce, Sunil Bharti Mittal, invited Jersey Finance's Chief Executive Geoff Cook to India to raise awareness of Jersey's financial services.

They form part of the official fact finding Jersey delegation led by the Minister for Economic Development, Senator Philip Ozouf. The Jersey delegation is in India under the auspices of Sunil Bharti Mittal who is also Chairman of Bharti Telecommunications.

Geoff Cook commented: "It is our belief that Jersey is an attractive location for Indian holding companies looking to diversify business interests into the UK and Europe, and since Indian nationals are able now to invest up to $200,000 per annum outside of India, this opens up an opportunity for private wealth management work in which Jersey has traditionally excelled. When you also consider the interest shown by the West in investing in India, I believe there is a compelling case for building business in the region.

"With over 1.1 billion people, financial services are seeing explosive growth with a fourfold increase predicted in wealth management by 2012. Jersey has the expertise and services which the market is demanding and this first visit will seek to build a bridgehead on which we can deliver future promotional activity."

Geoff Cook, believes that Jersey possesses the depth and range of specialist financial services to appeal directly to business leaders, financial and legal professionals and international investors at work in India's trillion dollar economy.

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