NEW YORK: Abundant opportunities in India for all industrial investors and stakeholders at this time in the global supply chain and leadership headed and committed to in the country, Finance Minister Nirmala Sitharaman said.
Sitharaman arrived in New York at the end of Friday after his visit to Washington DC where he participated in the annual meeting of the World Bank and the International Monetary Fund.
“Reset at this time in the global supply chain and leadership headed and committed to India, I see abundant opportunities in India for all industrial investors and stakeholders,” Sitharaman said during this speech to global business leaders organized by the Chamber FICCI industry and US-India’s strategic partnership forum on Saturday.
Startups in India have grown rapidly and many raise money through the capital market.
This year itself, more than 16 of them will qualify as Unicorn, he said.
India has fully utilized the potential digitalization even during the most challenging period, the Minister of Finance said.
The role of technology in the financial sector allows encouraging the border of financial inclusion and Fintech plays a key role in this field, he said at the round table, the Ministry of Finance tweeted.
Sitharaman also met with the executive chairman of Mastercard Ajay Banga and CEO of Mastercard Michael Miebach, President FedEx Corporation and Chief Operating Officer Raj Subramaniam, Citi CEO Jane Fraser and Chief Executive Officer Arvind Krishna, Vice President Prudential Financial, Inc.’s International Scott Sleyster and Legatum Chief Investment Officer Philip Vassiliou.
After his meeting with Sitharaman, Banga said India was in the “big track and trajectory” with sustainable reforms and he could see great momentum.
“I was very impressed with the production associated with the incentives that had been put in place,” he said, adding that they could make a big difference in the way the labor-intensive industry in India could develop.
“I really hope that it is not only one reform but a series of continuing reforms can continue to guide India on the track.
I believe there are many opportunities for India to participate in the supply chain and this can be very helpful during years for years to bring work Good to India, “said Banga, confirmed that he was” constructively optimistic “about what India did.
Miebach said he shared optimism.
Explain the discussion with Sitharaman as “very constructive”, he said, “it increasingly increases optimism” and said MasterCard will continue to invest in India.
Subramaniam said the Fedex business in India grew strong.
“We are very bullish in India.
The fact that we have a global air network put us in a large enough position to help move the material related to Covid-19 to India when needed.
We are looking forward to, we are very looking forward.
Bullish where the potential for India is The big economy that grows the fastest and increases the trade environment.
“Fraser said Citi had” very proud and very long history “in India.
“We are happy to see the power of recovery that happens on the ground there.
Obviously there are many concerns about current supply chain disorders” but throughout the world.
“We are very positive about opportunities for the country.
We see real pickups in cross-border streams.
India will be beneficiaries, not only from the supply chain movement throughout the world” and it can be an important goal for many multinational companies who will look for operations They globally.
He said the digitalization that was done by India was “really impressive” and “it would be one of the main hubs of digital trading and digital services in the world and the standard carrier ahead.”