International Financial Services London (IFSL), an exclusive cross-sectoral organisation representing the UK financial services industry, is in talks with leading Indian banks and financial institutions, to design a financial blueprint for mega infrastructural projects in the country.

Speaking to FE, Stephen Harris, head, International, IFSL said, ?The institution is keen to be a facilitator for public-private partnership (PPP) in undertaking large projects in India. The institution provides financial and other technical expertise support to achieve financial closure of big projects?

IFSL is currently in negotiations with several players, including the energy sector, airport and road projects. ?We help such large projects in getting the best prices for funding from the London market,? he said.

The gamut of financial services for which London-based institutions are known for, encompasses cross-border bank lending, global marine and aviation insurance, foreign exchange trading, trading in over the counter derivatives, cross-border equity, and international bond trading. There are over 250 foreign banks located in the UK and 11 trillion pounds of funds are managed in the UK on behalf of overseas clients. Four of the largest six international law firms are based in UK.

UK accords top most importance for India and China for forging alliances in the growing financial services sector. About two-thirds of non-resident investment in emerging markets, including India, is in equities, with non-resident equity holdings at least $100 billion in five countries. These countries are South Korea, Hong Kong, Taiwan, India, and Brazil. Ther accounted for around 60% of external equity holdings of $1,044 billion at the end of 2005, in 14 countries, including Malaysia, Turkey, Israel, Singapore, South Africa, Mexico, China, Brazil, India, Taiwan, Hong Kong, and South Korea.

Also, larger companies can more easily access capital markets through joining larger international exchanges, in addition to their domestic exchanges .The London Stock Exchange and New York Stock Exchange (NYSE) are exchanges where most such listings are made, each with 170 from emerging markets. Listings by Asian companies are divided between the two, with 44 Chinese companies having joined the LSE ?s Alternative Investment Market.