UK FCA and India's IFSCA Agree to Deepen Regulatory Cooperation

The UK Financial Conduct Authority (FCA) has signed an Exchange of Letters with the International Financial Services Centres Authority (IFSCA), the unified regulatory body overseeing financial institutions in India's Gujarat International Finance Tec-City (GIFT City). The bilateral arrangement establishes a formal commitment between both authorities to strengthen their regulatory ties. Under the terms of the agreement, the FCA and IFSCA plan to share regulatory expertise, knowledge, and best practices to advance the development of financial services across both the UK and India. The partnership also aims to build closer links between GIFT City—India's first international financial services centre—and the UK financial markets. In addition to the Exchange of Letters, the FCA confirmed that it will station an FCA Financial Services Attaché at the British Deputy High Commission in Mumbai later in 2026 to further support ongoing collaboration with India's financial regulators.