She addressed a roundtable on ‘Investment Opportunities in India’ at the New York Stock Exchange.
At the current expansion rate, India is likely to become the world’s third-largest economy by 2027, the minister said, underscoring the country’s “determination to not just contribute to but also determine the shape and direction of global recovery, while redefining its own place in the global economic order”, the finance ministry said in a post on X (formerly Twitter).
Sitharaman exuded confidence that there will be a “host of opportunities for growth and returns for investors in India”, as the country undergoes this transformation.
“The roundtable is being attended by various pension funds and other institutional investors and fund managers across USA, forming one of the largest financial systems in the world in terms of total assets under management,” the ministry said.
Sitharaman said the National Investment and Infrastructure Fund (NIIF) is coming up with a host of new funds, such as the Private Markets Fund II, US-India Green Transition Fund and the Master Fund II, which provide “exciting opportunities for long term investment and returns”.She also highlighted opportunities for foreign investors in India’s semiconductor and infrastructure sectors. The Atmanirbhar Bharat (self-reliant India) initiative, the minister said, seeks to reinvigorate the country’s manufacturing abilities and integrate it with the global supply chains.Economic affairs secretary Ajay Seth also attended the roundtable.
India’s rapid economic growth has created opportunities for investors, especially foreign ones. After a marginal drop last fiscal, foreign direct investment (FDI) inflows into Indian equities rebounded in the June quarter, up almost 48% year-on-year to $16.2 billion.
Content Source: economictimes.indiatimes.com