Indian Finance Minister To CEOs of Major US Giants, India Has Ample of Investing Opportunities
According to the latest reports, the Indian Finance Minister explained to the CEOs of the leading American organizations about the abundance of opportunities in India for all investors and industry stakeholders with the existing reset in the global supply chain and stable & committed authority in the country.
The Indian Finance Minister showed up here on Friday after she visited Washington DC where she took part in the annual gatherings of the World Bank and the International Monetary Fund. Not only this, Indian Finance Minister and US Treasury Secretary Janet Yellen also addressed the eighth ministerial meeting of the India-USA Economic and Financial Partnership Dialogue in Washington. Earlier, US Treasury Chief Janet Yellen discussed global economic outlook with Indian Finance Minister
At the time of addressing international business pioneers and investors at a roundtable coordinated by industry chamber FICCI and the US-India Strategic Partnership Forum on Saturday, Indian Finance Minister explained, “With the existing reset in the global supply chain and straight & committed leadership in India, I experience plenty of opportunities in India for all investors and industry stakeholders. ”
She added that startups in India are developing impressively and some of them are also fundraising through capital markets. Take an example of this year, more than 16 of them will be eligible as unicorns.
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India has fully utilized the power of digitization even during the most threatening times, the Finance Minister explained.
The involvement of technology in the finance sector is bringing opportunities for financial leaders and Fintechs have a vital role in this sector, she said.
Indian Finance Minister also had a meeting with Mastercard Executive Chairman Ajay Banga and Mastercard CEO Michael Miebach, FedEx Corporation President and Chief Operating Officer Raj Subramaniam, Citi CEO Jane Fraser and IBM Chairman and Chief Executive Officer Arvind Krishna, Executive vice president and head of Prudential Financial, Inc’s International Businesses Scott Sleyster and Legatum Chief Investment Officer Philip Vassiliou.
She also communicated with Banga and Miebach in New York. “The measurements and development towards financial inclusion and digital transformation created a needy part of the discussion.” The Finance Ministry tweeted.
Banga, after meeting with the Indian Finance Minister, explained that India is on a “great roadway and direction” with its existing reforms and he can witness great force.
“I am quite intrigued by the production-associated incentives that have been introduced”, he explained, adding that they can bring a noticeable change in the way that labor-focused industries in India can grow.
“I expect that it is not just reform but a series of reforms that are keep-going and keep assisting India on the trajectory. I believe that there are plenty of opportunities for India to take part in supply chains and this can be advantageous over the next period of years to generate employment in India,” Banga added, affirming that he is “valuably hopeful” regarding the current steps being taken by India.
Meanwhile, Miebach explained that he agrees with Banga's expectations. Explaining his discussion with the Indian Finance Minister as quite productive, he said it further boosts the optimism and explained MasterCard will keep on putting resources in India.
During Indian Finance Minister’s communication with FedEx CEO Subramaniam, “The recently introduced measurement of National Infrastructure Master Plan #GatiShakti and India having 3rd biggest startup ecosystem & unicorn base developed part of the discussion,” the Finance Ministry tweeted.
Subramaniam explained that the FedEx company is growing well in India. “We are very hopeful for India. The very reality that we have a worldwide air network places us in a considerable position to be capable of moving Covid-19 related material into India when it is required.
We are looking forward and we are very hopeful on where the scope for India is, the fastest developing large economy and developing trade environment, he explained.
Citi's responsibility towards 'Make In India' and spotlight on digitization and associations with fintech towards digital transformation was addressed during the meeting between Indian Finance Minister and Citi CEO Fraser, the finance ministry reported in a tweet.
Fraser explained Citi has “extremely pleased and extremely long history ” in India. “We are pleased to witness the strength of the recovery that is taking place now. No doubt there are a lot of worries around supply chain disruption right now” however it's throughout the planet.
“We are extremely certain about the opportunities for the nation. We are experiencing a genuine pickup in cross-border discrepancies. India will be a recipient, not simply from the supply chain movement globally and it tends to be a significant destination for some multinationals that will be seeking to develop their activities across the world.”
She appreciated the adoption rate of digitization by India and “it will be one of the influential hubs of digital trade and digital services globally.”
“Fraser talks about the strength of India’s economic recovery and how India will progressively turn into a significant destination of investment for multinational organizations willing to develop their operations”, the Finance Ministry tweeted.
The minister addressed reforms towards the capital bond market, investor charter, and other steps with Prudential COO and Executive Vice President Sleyster, the finance ministry said.
It explained, “The powerful underlying development and continued interest of the organization to invest in India created part of the discussion” between Indian Finance Minister and Legatum Chief Investment Officer Vassiliou, it said.
At the time of her meeting with IBM CEO and Chairman Krisna, the tech influencers’ “interest in India in the areas of hybrid cloud, automation, 5G, cybersecurity, data, and Artificial Intelligence (AI) created part of the discussion.”, the Ministry tweeted.