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Home / News / India /  PM Modi to chair global virtual conference with 20 investors on 5 Nov: DEA Secy

Prime Minister Narendra Modi will chair a conference with major global investors, including sovereign wealth funds with a total Assets Under Management of about $6 trillion on 5 November, said Economic Affairs Secretary Tarun Bajaj.

These global institutional investors represent key regions including the US, Europe, Canada, Korea, Japan, Middle East, Australia, and Singapore. Event will witness participation of key decision makers of these funds, i.e., the CEOs and CIOs. Some of these investors would also be engaging for the first time with the the Indian government. Apart from global investors, the Roundtable will also see participation of several top Indian Business Leaders.

Infosys CEO Deepak Parekh, Sun Pharmaceuticals' Dilip Sanghvi, Kotak Mahindra Bank CEO Uday Kotak, Chairman of Reliance Industries Limited Mukesh Ambani, Tata Group's Ratan Tata are among the 20 investors who will be a part of the Global Fund Meet, Bajaj added.

The funds will have one-to-one interaction with the prime minister post the meeting and will hold similar discussions with the PM for next two weeks, he added.

The global virtual conference will focus on discussions around India’s economic and investment outlook, structural reforms and the government’s vision for the path to a $5 trillion economy.

"The event will provide an opportunity to leading global investors and Indian business leaders to engage and deliberate with senior policymakers on how to further accelerate the growth of international investments in India," an official statement said.

Foreign investments in India this fiscal is the highest ever for the first five months of a financial year. The conference will also provide an occasion for all stakeholders to further cement the strong partnerships that have been built and to foster engagement with international institutional investors who are looking to increase their Indian investments, the statement further added.

During the press briefing, Bajaj also added that India continued to see uptick in economy for past few months since the unlock. "Lot of traction and inquiries from investors to invest in India despite COVID-19 situation shows India growth story is intact," he said.

The October FPI was at $3.2 billion and bank credit is up 5.8% from September.

Bajaj also added that the government was seeing improvement in all economic parameters. "Economy is expected to further rise in November and is moving much faster than what was anticipated by economists.

Addressing the topic of economic stimulus package amid the Covid-19 pandemic, the DEA secretary said, "We are actually discussing that. It is difficult for me to commit a date but we have received a lot of requests and comments from various sectors and we are looking into it. Very soon it will be unveiled. The finance minister will come out and speak to you on that," he said.

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