Bermuda's successful conclusion of a TIEA with India was hailed as more good news by Chairman of the Association of Bermuda International Companies (ABIC) David Ezekial:

Coming just after the TIEA signing with Japan and conclusion of negotiations of a TIEA with Korea, the conclusion of negotiations of a TIEA with India is further good news for the Bermuda international business sector as all three of these countries have a growing involvement in our market. With the increasing liberalisation of the Indian insurance sector, Indian insurers and reinsurers could, in the years ahead, become major buyers of protection from the Bermuda market.

He's right. Our existing ties are being supplemented by this week's trade delegation which is opening even more doors on the subcontinent. The delegation is promoting IB and tourism as well as educational and cultural exchanges with one of the largest and fastest growing economies on the planet. Bermuda International Business Association (BIBA) CEO Cheryl Packwood underscored the importance of this TIEA.

India is one of the fastest growing and most powerful economies in the world. Upon signing, this TIEA with India will enable Bermuda to develop greater economic and international business ties with an important nation, but as importantly it is indicative of the strong regulatory and tax standing that Bermuda has achieved over the past 50 years and further recognition that Bermuda is truly a distinct, credible and powerful player in the global economy in our own regard. We appreciate the efforts of Bermuda’s Ministry of Finance in negotiating these treaties and further facilitating the growth and success of Bermuda’s international business economy.

The TIEA negotiations are concluded and a signing will take place after both countries complete their internal approval processes. Minister Cox noted the importance of this agreement given Bermuda's strong and growing ties with India.

Presently, Bermuda ranks one of the highest providers in the world of foreign direct inflows (FDI) to India, with Bermuda yielding .58 percent to India’s total FDI. In fact, there are 120 entities in Bermuda with Indian interests. When this agreement is signed, it will further enhance investment opportunities between our two countries and is a reflection of our targeted success in negotiating TIEAs with members of the G20.

Minister Cox and the PLP Government team have aggressively pursued TIEAs to protect our jurisdiction's sterling reputation. Bermuda currently has 19 signed TIEAs, with: Japan, France, Germany, the UK and the US, Australia, Ireland, New Zealand, the Netherlands, the Nordic Group (including Denmark, Finland, Iceland, Norway and Sweden and their associated territories the Faroe Islands and Greenland), Netherlands Antilles and Aruba, and Mexico. In addition to India, negotiations have been concluded with, among others: Canada, Spain, Belgium, Portugal, and Korea. Minister Cox and the PLP Government Team are upholding and enhancing Bermuda's sterling reputation.