New Delhi [India], June 7 (ANI): The Ministry of Commerce and Industry took center stage at the Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum, held at the iconic Marina Bay Sands in Singapore.
According to a press release by the Ministry of Commerce and Industry, the event, brought together over 60 global investors and financial institutions, showcasing India’s burgeoning opportunities in infrastructure, clean economy, and digital transformation.
The forum saw participation from a diverse array of stakeholders, including investors from the US, Singapore, Japan, Australia, Korea, and other countries, alongside 15 Indian firms.
The event was orchestrated by the Department of Commerce and Invest India, aiming to foster investment ties and highlight India’s attractive growth prospects.
In his inaugural address, Sunil Barthwal, Secretary, Department of Commerce, underscored India’s remarkable economic trajectory, noting that the country’s growth rate is nearly double that of other emerging market economies.
Barthwal highlighted a trend of ‘reverse flipping’, where Indian startups that previously relocated abroad for better capital access and tax incentives are now returning, driven by India’s strong economic fundamentals and supportive policy environment.
The forum facilitated meaningful interactions between Indian companies and global investors, featuring presentations on investment opportunities across various sectors.
Indian firms and institutions, including Temasek, Global Infrastructure Partners, GuarantCo, Private Infrastructure Development Group (PIDG), Goldman Sachs, I Squared Capital, Mizuho Bank Ltd, Advantage Partners, Nomura, DBS Bank, and Citi Bank, engaged with international participants, highlighting solutions in infrastructure and climate technology aimed at tapping global markets, read the press release.
India’s High Commissioner to Singapore, Dr Shilpak Ambule, addressed the gathering, focusing on the robust fundamentals driving India’s economic growth.
Dr Ambule highlighted significant investments in physical and digital infrastructure, which are expected to have multiplier effects on the economy.
He also noted legislative and regulatory reforms that have fostered a pro-market environment, enhancing India’s attractiveness as an investment destination.
“The investment in physical and digital infrastructure will have multiplier effects on the Indian economy, and that the legislative and regulatory changes have created a pro-market field, providing conducive and predictable policy environment”, Dr Ambule stated, emphasizing the strategic importance of India’s economic and regulatory landscape.
Invest India showcased several government initiatives designed to attract foreign investment, including a thriving startup ecosystem, a vast pool of skilled professionals, and significant policy reforms aimed at enhancing transparency and improving the Ease of Doing Business.
The presentation underscored India’s commitment to sustainable development and its ambitious Net Zero targets.
Ms. Nivruti Rai, Managing Director and CEO of Invest India, emphasized India’s readiness to collaborate with global investors and innovative firms in driving projects related to sustainable infrastructure, climate technology, and renewable energy.
The forum also featured a fireside chat titled “Charting India Opportunity,” where Ms. Radhika Rao, Senior Economist and Executive Director, outlined India’s strengths, encapsulated in the 4C’s- Consistency and Continuity in policy and reforms, increasing Capex through government and private sector investment, a shift in trade composition towards manufacturing, and rising consumption levels projected over the next five years, read the press release.
Sonal Varma, Managing Director of Nomura, presented insights from the Nomura India report, highlighting that India is increasingly becoming a focal point for global investors
Kunal Agarwal, Managing Director of I Squared, pointed out that India is experiencing an ‘Infrastructure Supercycle’, which is a significant enabler for the ongoing digital revolution.
The inaugural IPEF Clean Economy Investor Forum marked a significant step towards enhancing economic cooperation in the Indo-Pacific region.
Industry participants underscored the importance of collaborative efforts to tackle shared challenges and leverage new growth opportunities.
The forum highlighted the critical role of a clean economy and resilient supply chains in achieving sustainable economic development. (ANI)
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