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NEW DELHI: Prime Minister Narendra Modi made a strong pitch for India as an investment destination for global investors when he met members of the board of investment banking giant Goldman Sachs.
The board met in India after over a decade, led by its CEO David Solomon. The last time the board had met in the country was in 2012 in Mumbai under the leadership of Lloyd Blankfein.
“Had a fruitful discussion with the members of the board and key leadership of Goldman Sachs. Highlighted India’s vast potential for growth, fuelled by recent reforms and a conducive business environment. Also spoke of how India offers several opportunities for global firms,” Modi said on microblogging site Twitter. The post was accompanied by a picture of the PM with the board, which included Lakshmi Mittal, executive chairman of ArcelorMittal, the secondlargest steel maker in theworld. The PM has returned from a highly successful state visit to the US and several crucial deals were signed with top global firms, such as GE, Micron, Google and Amazon, committing large investments in India.
India is emerging as a keyplayer in the global supply chain, with several companies planning to shift their manufacturing base from China due to geopolitical risks. The forging of close ties with the US is expected to trigger investment interest from companies in the US.
India’s strong economic growth and large market has also attracted interest from global investors. India has been described as a bright spot for its robust growth against the backdrop of gloomy growth prospects for the world economy.
India’s economy is expected to grow in the 6-7% range in the current financial year and will be the fastest growing major economy in the world for the next two years. The economy is the fifth-largest in the world.
The board met in India after over a decade, led by its CEO David Solomon. The last time the board had met in the country was in 2012 in Mumbai under the leadership of Lloyd Blankfein.
“Had a fruitful discussion with the members of the board and key leadership of Goldman Sachs. Highlighted India’s vast potential for growth, fuelled by recent reforms and a conducive business environment. Also spoke of how India offers several opportunities for global firms,” Modi said on microblogging site Twitter. The post was accompanied by a picture of the PM with the board, which included Lakshmi Mittal, executive chairman of ArcelorMittal, the secondlargest steel maker in theworld. The PM has returned from a highly successful state visit to the US and several crucial deals were signed with top global firms, such as GE, Micron, Google and Amazon, committing large investments in India.
India is emerging as a keyplayer in the global supply chain, with several companies planning to shift their manufacturing base from China due to geopolitical risks. The forging of close ties with the US is expected to trigger investment interest from companies in the US.
India’s strong economic growth and large market has also attracted interest from global investors. India has been described as a bright spot for its robust growth against the backdrop of gloomy growth prospects for the world economy.
India’s economy is expected to grow in the 6-7% range in the current financial year and will be the fastest growing major economy in the world for the next two years. The economy is the fifth-largest in the world.
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