Webinar on Financial Services Sector Going Global from India

Understanding Potential Opportunities Series from SEPC – Feb 5th 2021 – 3 – 5 pm

About SEPC :

Services Export Promotion Council set up in 2006 by Ministry of Commerce & Industry, Government of India is an apex trade body to promote exports of services from India.

Financial Services Sector in India

The financial services sector in India has undergone tremendous growth in recent years and presents promise for more in the forthcoming future. With the annual rate of growth at 8.5%, the Indian financial services industry comprises several key subsegments. These include, but are not limited to- mutual funds, pension funds, insurance companies, stock-brokers, wealth managers, financial advisory companies, Investment Bankers, Private Equity Companies and commercial banks- ranging from small domestic players to large multinational companies. The recipient of these varying services ranges from individuals and private entities to public organizations.

During the last fifteen years, the Indian financial system has been incrementally deregulated and exposed to international financial markets along with the introduction of new instruments and products while still retaining some aspect of supervision and control to mitigate any potential risks. Credit, Insurance, and Investment penetration along with lower mutual fund penetration of 5–6% reflects latent growth opportunities.

The approval of 100% FDI in insurance intermediaries, increment in FDI upper limits from 49 to 74% in the insurance sector are indicators of competitive interests.

NSE launched a new mobile application and web-based platform, NSE goBID, for retail investors to invest in Government securities. BSE enabled offering live status of applications filed by listed companies on its online portal.

India, as a business destination in BFSI space, fosters all the positives for the sector to flourish at an appreciable pace. Inter-dependent factors of government policy, active public/private involvement, robust regulatory measures, and technological evolution have spurred the BFSI sector to register strong growth and leap frog in recent years. India’s fintech revolution heralded a new age of banking and financial services in the country. Fintech industry comprising of online brokerages gained momentum, enabling investors to buy equities, IPOs, ETFs, mutual funds; UPI payments skyrocketed; more people switched to online banking during COVID-19 times. Opportunities for fintech startups in India are plenty.

Creating a Global Connect for Indian Financial Services Businesses – Few Initiatives taken by SEPC :

The demand for CA’s in Accounting and Auditing services to be exported to western and other unexposed countries has gone up substantially. It’s not only the Indian engineers, management graduates and IT professionals who are in demand overseas. Usually, the low-profiled chartered accountants (CAs) too are now in demand by the other countries. The apex body of CAs — Institute of Chartered Accountant of India (ICAI) —claims that it has received requests from 25 countries seeking Indian accounting professionals. Accordingly, the perception towards Indian accountants in international market has changed dramatically and apart from Middle east, there is growing demand for Indian CA’s in countries such as Australia, New Zealand and Nigeria. So, the situation is changing and the value of Indian CA’s has gone up in international markets and their brand image has improved with many international firms offering them hefty pay packs.

Further, SEPC has also signed a MoU with the Institute of Chartered Accountants of India (ICAI). ICAI and SEPC identified the need to work together for the benefit of Accountancy & Financial services sector in order to promote export and arrived at mutual understanding. The two organizations formally signed a Memorandum of Understanding (MoU) on June 30, 2020. Both agreed to jointly set up a Co-ordination Group to promote various initiatives by the government of India in several countries, to create awareness towards action plan for champion sector with regard to Accounting and Finance services and for export promotion of such services. The endeavor would also be to organize studies and publish knowledge papers with inputs and research based on feedback from members.

About the Program :

Understanding the Industry’s views on global opportunities !

Having reached a high level of maturity in the Indian Financial Services Sector space,

Is the sector ready to start its journey to tap global markets since global markets are more receptive to implement digital solutions, post COVID-19.

Can Indian Financial Services Sector explore opportunities in the global markets?

What would be ideal geographies to tap and what would be the ideal services portfolio to offer to global markets in BFSI Space?

In lieu of the growing importance of the sector in global scenario, a webinar is being proposed by Services Export Promotion (SEPC) to Understand the Business potential in the BFSI Space in global markets from the Industry.

This Understanding Series will help SEPC to create an enabling business environment for Indian Businesses to go global.

Program Outline

Date : Feb 5th 2021, Friday

Time – 3 – 5 pm

Who should participate ?

Financial Services industry players from BFSI Space, Startups from Financial services, Fintech, IT/ITES Businesses offering financial services.

Session focus is on export of financial services to global markets from India. Businesses aspiring to go global, already exporting to global markets should attend.

Registration Details :

There is no registration fee. But prior registration is a must.

Registration Link :

Click here to register

Program Brochure

Download here

Program Agenda :

Download here

This program is organised by :

Services Export Promotion Council

Supported by :

Knowledge Partner – Consultants Consortium of Chennai