Someone asked me recently to explain our thinking behind Acquarius’ initiative aimed at Indian-sourced business. I explained the usual points about the growing list of reasons why Gibraltar should appeal to Indian-based entrepreneurs and their advisers. These include the widest possible services offering, robust regulation, attractive tax rate and lifestyle. “Yes,” murmured the client “but why India? why now?” I thought it might be useful to set out Acquarius’ opinion and indeed why we have proceeded down this, less than obvious, route. 

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The big answer I think is that clients and their advisers should be considering Gibraltar as the main gateway to the UK and Europe. Of course, this is not limited to Indian-sourced business but according to UK government statistics, inward investment into the UK from India grew by 28% in 2023 and the trend continues. Moreover, since 2023 when it overtook China, India’s population at close to 1.5 billion makes it the world’s most populous country with international business ambitions to match. So, this is not a bad place to start.

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But of course, there is much more to it. There are two factors that are of considerable interest to me as co-owner of a Gibraltar trust company. First, the enthusiastic support provided by the Government of Gibraltar and Indian High Commission in London aimed at deepening the already close links between the Rock and the Indian business community. Minister for Justice, Trade and Industry Nigel Feetham and the Government’s UK representative Dominique Searle are to be congratulated on their vision; it must be gratifying to them that the baton has been picked up by so many both locally including here at Acquarius and further afield.

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The second factor for me is coincidental but no less significant for all that. The UK-India Trade deal was originally announced in May this year and signed during Prime Minister Modi’s visit to Chequers just last week. An astonishingly fast timescale from agreement to signing. It bodes very well for other agreements the UK Government has reached recently including those with the US and European Union as well of course as the separate accord with the EU over Gibraltar. We may witness the latter bearing fruit shortly too. 

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Back to India. There are an impressive set of links in place between Gibraltar and India, and far more extensive than might be apparent at first glance. Undoubtedly a significant part is due to the local Indian community in Gibraltar, the majority Sindhi, which is the most widespread South Asian diaspora. Latest estimates point to close to 600 local residents boasting Indian heritage; that is close to 2% of our population. Add to the mix Indian people who have come to Gibraltar more recently and one can see why this is a hugely important part of the Rock’s story. In the UK of course the situation is repeated with over two million people of Indian origin calling Britain home. 

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Much Indian wealth is in fact held overseas already, especially in the UAE. Once again, Acquarius and other Gibraltarian firms have built extensive connections in the Middle East so once again, the conditions are aligning favourably. 

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At a macro level, we see UK-India co-operation in high-growth industries such as Tech/AI, pharma, the green sector and financial services. Combine use of the English language with deep Commonwealth ties and one can see that the possibilities are endless.

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Yes, there is much to become excited about. I am determined to keep pushing this initiative as it behoves us in the private sector to repay the time and effort expended by our government and others. We should explore ways of exploiting the new opportunities. Gibraltar is in a unique position to function as the “Gateway to the UK and Europe.” Let us not spurn this chance and moreover, let us move fast – before someone else does.

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To the questions: “Why India? Why now?” My answers are simple. “Why not?” and more importantly “There may never be a better time.” Get in touch if you wish to learn more about our plans or if you wish to be part of the exciting journey ahead.