Business Center & State International

‘..India is the place to be’ – PM Modi at the Virtual Global Investor Roundtable

By Renu Valke
‘..India is the place to be’ – PM Modi at the Virtual Global Investor Roundtable
Indian Prime Minister NARENDRA MODI - (Image Source - The Indian Wire)
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Key Points:

  • Addressing the global investors virtually on Thursday, November 5, PM Modi highlighted India’s potential to attract huge investments in various sectors and invited them to be a part of India’s growth story.
  • He spoke about government reforms, investor opportunities in the country as well as India’s handling of the novel coronavirus pandemic.
  • “If you want returns with reliability, India is the place to be. If you want demand with democracy, India is the place to be,” said the Prime Minister.
  • All the global investors along with Indian industrialists were present for the VGIR.

Thursday, November 5, the Prime Minister of India, Narendra Modi addressed the Top Global Fund Managers under the banner of Virtual Global Investor Roundtable (VGIR). Leaders of the IT and Business Processing Outsourcing (BPO) industry in the country praised the Indian government’s move to relax guidelines in order to enable IT and BPO companies to adopt a permanent work from home/work from anywhere. They even called it a ‘Game Changer’ that could generate millions of jobs in small towns and cities.

What is VGIR?

The Virtual Global Investor Roundtable or VGIR is an exclusive dialogue between leading global institutional investors. Indian business leaders and the highest decision-makers from the Government of India and Financial Market Regulators.

A series of measures were announced aiming to make India the ‘Tech Hub’ by furthering ‘Ease of Doing Business’. The Other Service Provider (OSP) guidelines of the Telecom Department were also simplified which is seen as a move that might reduce the burdens of the IT and BPO industry.

The VGIR included major global investors that represented the US, Europe, Canada, South Korea, Japan, the Middle East, Australia and Singapore. India biggies Deepak Parekh (HDFC), Dilip Shanghvi (Sun Pharma), Mukesh Ambani (RIL), Nadan Nilekani (Infosys), Ratan Tata (Tata Group) and Uday Kotak (Kotak Mahindra Bank) were also at the online conference.

PM Modi, during the VGIR meeting said that,
“India’s growth has potential to catalyze the global economic resurgence and any achievement by India will have a greater impact on the world’s development and welfare. India’s vibrancy can help stabilize the world economic order and we will do whatever it takes to make India the engine of global growth renaissance.”

Key Points from PM Modi’s address:

  • PM Modi said that the investors are moving towards companies that have high environmental, social and governance score but, India already has companies which rank high on this.
  • India offers you democracy, demography, diversity for investments: PM Modi.
  • Our recent reforms in agriculture open up new exciting possibilities to partner with the farmers of India. With the help of technology and modern processing solutions, India will soon emerge as an agriculture export hub: PM

  • Modiji spoke of the ‘AatmaNirbhar Bharat’ as not just a vision but a well-planned economic strategy.
  • PM Modi spoke of how remarkable India has done during the pandemic in both the aspects of fighting with the virus and ensuring economic stability.
  • The $5 trillion economy aim was also spoken of in the address and how the country is working towards it.
  • The Indian side is being represented by business leaders, financial market regulators, finance minister Nirmala Sitharaman and RBI governor Shaktikanta Das, said PM Modi.

The Prime Minister will have one-to-one interactions with heads of these fund houses over the next few weeks to address their concerns.

PIB Press Release – https://pib.gov.in/PressReleasePage.aspx?PRID=1669799

Renu Valke

Renu Valke

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