Premier Reports on India Mission, Constitutional Talks
The Premier has delivered a comprehensive update on the Territory's inaugural financial services trade mission to India and ongoing constitutional negotiations with the United Kingdom. Following high-level discussions in Asia, the Virgin Islands negotiating team is now preparing to travel to London for a second round of formal constitutional talks next week.
The Premier has briefed the Virgin Islands public on two major national developments: the Territory's first-ever financial services trade mission to India and the ongoing constitutional reform negotiations with the United Kingdom. Leading a 30-member delegation alongside Junior Minister for Financial Services Lorna Smith, the Premier visited New Delhi, GIFT City in Gujarat, Mumbai, and Bengaluru between August 24 and 31.
The delegation, which included senior officials from BVI Finance, the Financial Services Commission, and 18 self-funded private sector representatives, held high-level meetings with key Indian decision-makers. Discussions included bilateral talks with India's Union Minister of Finance and Corporate Affairs Nirmala Sitharaman, the Central Board of Direct Taxes, and the National Stock Exchange in Mumbai.
The mission focused on how BVI fund structures and corporate vehicles can support India's rapidly expanding economy and facilitate international investment. Addressing India's development of its own financial centre, GIFT City, the Premier noted that the BVI views the initiative as a partnership opportunity rather than a competitive threat.
The government confirmed that further collaborative engagements with Indian regulatory and capital-market leaders are already planned for 2027. Turning to constitutional reform, the Premier announced that the Virgin Islands Constitutional Negotiating Team will travel to London next week for the second round of formal negotiations with the UK Government.
This follows the first round of talks held in the Territory in July and subsequent ministerial meetings in the UK earlier this month. The Premier described the discussions as healthy, constructive, and positive, underscoring that the current 2007 Constitution is overdue for a comprehensive review.
The revised constitutional framework aims to strengthen democratic accountability, expand local decision-making, and reflect the Territory's political and economic maturity over the past two decades. Prior to the policy updates, the Premier also extended condolences to the family of the late Mrs.
Esmie Estene Turnbull-Stoutt, who recently passed away at the age of 101. Turnbull-Stoutt was the mother of Carolyn Stoutt-Igwe, Permanent Secretary in the Premier's Office, and the grandmother of Deputy Governor David Archer.
Primary source: BVI London Office