FM Seeks French Participation in GIFT City IFSC

New Delhi, Jan 12 (PTI) Finance Minister Nirmala Sitharaman on Friday met French President Diplomatic Advisor Emmanuel Bonne and sought greater participation from French financial institutions and operations in the International Financial Services Centre (IFSC) at GIFT City.

"They discussed approaches for further enhancing collaborative positions on climate actions, strengthening international financial institutions and addressing the debt vulnerability in low-and-middle-income countries," the finance ministry said in a post on X.

Recognising the synergy between Indian UPI and French Targeted Instant Payment Settlement (TIPS), they explored avenues for closer financial integration, it said.

"Finance Minister Smt. @nsitharaman encouraged greater participation from French financial institutions and corporations in pathbreaking initiatives and operations in IFSC at @GIFTCity," it said.

Bonne is in the national capital ahead of the upcoming visit of French President Emmanuel Macaron as the chief guest for the 75th Republic Day of India.