WORLD

Modi for more FDI

Prime Minister Narendra Modi recently called upon the foreign businesses to invest in India as the government will provide policy support for boosting FDI.

He chaired the Virtual Global Investor Roundtable (VGIR) 2020 with twenty top institutional investors from the US, Europe, Canada, Korea, Japan, Middle East, Australia and Singapore.

VGIR was organized by the Ministry of Finance, Government of India, and National Investment and Infrastructure Fund. It was an exclusive dialogue between leading global institutional investors, Indian business leaders and the highest decision-makers from the Government of India and Financial Market Regulators.

Roundtable witnessed participation from twenty of the world’s largest pension and sovereign wealth funds with total assets under management of about US$6 trillion.

These global institutional investors represent key regions including the US, Europe, Canada, Korea, Japan, Middle East, Australia, and Singapore.

Announcing his participation, PM Modi tweeted, “I would be joining the Virtual Global Investor Roundtable via video conferencing. Will be speaking about India’s reforms and opportunities for investors in our country. Do watch the speech.”

VGIR 2020 focused on discussions around India’s economic and investment outlook, structural reforms and the government’s vision for making the country a $5 trillion economy.

The Indian side at the roundtable was represented by business leaders, financial market regulators, Finance Minister Nirmala Sitharaman and RBI Governor Shaktikanta Das.

Apart from this, there were six major Indian industrialists — Deepak Parekh (HDFC), Dilip Shanghvi (Sun Pharma), Mukesh Ambani (RIL), Nadan Nilekani (Infosys), Ratan Tata (Tata Group) and Uday Kotak (Kotak Mahindra Bank) who shared their experience.

The event provided an opportunity for leading global investors and Indian business leaders to engage and deliberate with senior policymakers on how to further accelerate the growth of international investments in India.

VGIR 2020 also provided an occasion for all stakeholders to further cement the strong partnerships that have been built and foster engagement with international institutional investors who are looking to increase their Indian investments.

Foreign investments in India this fiscal at USD 35.7 billion was the highest-ever for the first five months of a financial year.

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