Nirav Modi is the main accused in the $ 2 billion Punjab National Bank scam case.
India on Thursday welcomed the arrest of bank fraud accused Nirav Modi by British authorities in London, and said it was engaged with the UK for his extradition at the earliest.
Ministry of External Affairs (MEA) Spokesperson Raveesh Kumar said India continued to actively follow up with the UK the case of Nirav Modi's extradition to India.
"We welcome the fact that Nirav Modi has been arrested by the United Kingdom authorities pursuant to the arrest warrant issued by the Westminster Magistrate Court," Mr Kumar said.
"Government of India continues to actively follow up this matter with the authorities concerned in the UK, with a view to have Nirav Modi extradited to India at the earliest," he said.
The arrest of Nirav Modi, the main accused in the $ 2 billion Punjab National Bank scam case, came days after a London court issued an arrest warrant against him in response to a request by the Enforcement Directorate for his extradition in a money laundering case.
On Wednesday, a court in the UK, remanded him in custody till March 29.
Nirav Modi and his uncle, Mehul Choksi, are the main accused in the PNB scam and they both left India before the details of the fraud came to light in January 2018.
Nirav Modi is one of India's richest men, worth an estimated $1.75 billion, according to Forbes. He launched his own eponymous brand in 2010 and he soon had stores across India, as well as in New York, London and Hong Kong.