Form of words:
New York: Finance Minister Nirmala Sitharaman has said that with the current reset in the global supply chain and clear leadership and committed leadership in the country, opportunities are abundant in India for all investors and industry stakeholders.
Sitharaman arrived here late on Friday after her visit to Washington DC, where she attended the annual meetings of the World Bank and the International Monetary Fund.
“With the current reset in the global supply chain and clear leadership and committed leadership in India, I see an abundance of opportunities in India for all investors and industry stakeholders,” Sitharaman told a roundtable here organized by industry and global business leaders. and said during his address to investors. Chamber FICCI and US-India Strategic Partnership Forum here on Saturday.
There has been a tremendous growth of startups in India and many are now raising money through the capital market. This year alone, more than 16 of them will qualify as unicorns, she said.
The Finance Minister said that India has taken full advantage of the potential of digitization even in the most challenging times.
The role of technology in the financial sector has been able to push the limits of financial inclusion and fintechs are playing a vital role in this sector, he said in the round table, the finance ministry tweeted.
Sitharaman also met Mastercard Executive Chairman Ajay Banga and Mastercard CEO Michael Miback, FedEx Corporation President and Chief Operating Officer Raj Subramaniam, Citi CEO Jane Fraser and IBM President and Chief Executive Officer Arvind Krishna, Executive Vice President and CEO of Prudential Financial, Inc. Also met with heads of international businesses. Scott Sleister and Legatum Chief Investment Officer Philip Vasiliou.
After his meeting with Sitharaman, Banga said that India is on a great path and trajectory with its continuous reforms and can see great momentum.
“I’m particularly impressed by the production-linked incentives,” he said, adding that they can make a big difference in the way labor-intensive industries develop in India.
I sincerely hope that it is not just one reform but the series of reforms that are on-going can lead India on the path. I believe there are a lot of opportunities for India to participate in the supply chain and it can be of great help in the next few years to bring good jobs to India, Banga said, adding that he is constructively optimistic that What is India doing?
Miback said he shares Banga’s optimism. Describing his discussions with Sitharaman as very constructive, he said it further fuels optimism and added that Mastercard will continue to invest in India.
Subramaniam said that FedEx’s business in India is getting stronger. We are very bullish about India. The fact that we have a global air network puts us in a critical position to be able to help move COVID-19 related content to India when needed.
Looking ahead, we are very optimistic on India where there is potential, the fastest growing large economy and the growing business environment.
Fraser said the city “has great pride and a very long history in India.
We are happy to see the strength of recovery happening there on the ground. Obviously there are a lot of concerns about supply chain disruption at the moment but it is around the world.
We are very positive about the opportunities for the country. We are seeing a real pickup in cross-border flows. India is not only going to benefit from the worldwide supply chain movement and can be an important destination for many multinational companies who want to scale up their operations globally.
He said that the digitization that India has undertaken is truly impressive and “it will be one of the major hubs of digital trade and digital services in the world and a standard to be pursued.”
Read also: There is a festive atmosphere in the Indian economy, let’s hope today’s energy and optimism remains
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