The Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman on Thursday participated in the Global Investors Roundtable organised by the US-India Strategic Partnership Forum (USISPF) through video conferencing which witnessed participation from some of the largest foreign investors, including Mastercard, MetLife, Prudential, Air Products, Dell, SoftBank and Warburg Pincus amongst others.
The event provided investors with an opportunity to engage with the Union Finance Minister and senior officials of Indian Government to discuss potential investment opportunities and deliberate on the role of ongoing policy reforms that will enable greater Ease-of-Doing-Business in India.
She discussed India’s opportunities for growth and investment pertaining to India’s wide-ranging reforms which continues to position the country as an attractive destination for foreign investors. The Finance Minister remarked that macroeconomic stability, infrastructure-led economic growth opportunities, financial sector reforms, and positioning as a strong player in global supply chains are just some of the ways India continues to rise as a global economic powerhouse.
The broad messages conveyed to the investors were with respect to significant drop in new COVID infections in the country and decline of second wave. Strong Relief and Reforms undertaken by the Government during the pandemic times. Continued macro-economic stability and resilience in economic recovery in the recent months. Vision to make India Self-Reliant (Aatma Nirbhar Bharat). Steps taken for Infrastructure led economic growth. Creating multi-sectoral opportunities for investors. Strong track record of reform implementation in the last 6 years. Other strengths/advantages of India as an investment destination. Opportunities for investment in Climate, ESG and Sustainability focused investments.
In her concluding remarks, the Minister spoke about going ahead with an overall vision to build a self-reliant modern India driven by 5 “I’s” viz.
- Infrastructure and
The Finance Minister stated that the country is committed to a long term relationship with US investors and proposes to meet twice yearly. She focused that the continuous reforms make India a great place to do business. Covid and its aftermath has shown Indian economy’s resilience. With the highest ever GST collections shows the bright spot-More formalisation of economy and tax compliance. Innovation and R & D have great potential and new opportunities emerging for foreign investors with recent FDI reforms, privatisation policy and PLI scheme. Fiscal situation is under control and expected to improve further and 15 new unicorns in the first 5 years of 2021 itself reflecting the growing startup ecosystem to be amongst the best in the world.
Economic affairs Secretary Shri Ajay Seth highlighted the broad themes of Budget 2021 and how changes made are far reaching and set the tone of interactive discussion that followed.
It is to be noted that, the US-India Strategic Partnership Forum (USISPF) is a non-profit organization, with the primary objective of strengthening the India-US bilateral and strategic partnership through policy advocacy in the fields of economic growth, entrepreneurship, employment-creation, and innovation.