In order to attract investments in India, the Virtual Global Investor Roundtable (VGIR) 2020 conference was held virtually which was chaired by Prime Minister Narendra Modi. It focuses on discussions around three important areas such as India’s economic and investment outlook, structural reforms, and the government’s vision for making the country a $5 trillion economy.
Organizer – VGIR 2020 is organized by the Ministry of Finance, Government of India, and National Investment and Infrastructure Fund.
- The Indian side is being represented by business leaders, financial market regulators, Union Finance Minister Nirmala Sitharaman and Reserve Bank of India (RBI) governor Shaktikanta Das.
- The conference was attended by the world’s 20 largest pension and sovereign wealth funds, which have around $6 trillion assets under their management.
- The PM highlighted India’s potential to attract huge investments in various sectors and invited them for investment.
Key Points from PM Modi Address:
-Indian companies have a high environmental, social & governance (ESG) score which today’s investors used to look for.
-India is reforming its agriculture sector through technology and modern processing solutions which opens up new possibilities of investment in this sector.
-India’s initiative of AatmaNirbhar aims to use the capabilities of our businesses and skills of our workers to make India into a global manufacturing powerhouse.
-India provided foodgrains to around 800 million people, money to 420 million people and free cooking gas to around 80 million families amid COVID-19.
-The coronavirus pandemic brought out four traits in India, which are the sense of responsibility; the spirit of compassion; national unity; and spark of innovation.
The global institutional investors, representing key regions including the United States (US), Europe, Canada, South Korea, Japan, the Middle East, Australia and Singapore participated in VGIR 2020. Some of these investors are engaging with the government for the first time.
- Six major Indian industrialists — Deepak Parekh (HDFC), Dilip Shanghvi (Sun Pharma), Mukesh Ambani (RIL), Nadan Nilekani (Infosys),Ratan Tata (Tata Group) and Uday Kotak (Kotak Mahindra Bank) also shared their experience.
Recent Related News:
i.Union Minister for Petroleum and Natural Gas, Dharmendra Pradhan addressed the ‘GCTC Energy Security Conference 2020’ organized by Global Counter Terrorism Council (GCTC) from September 29, 2020 to September 30, 2020 on the theme of “Energy Security Architecture in Post Covid-19 World.
ii.On September 30, 2020 Union Minister for Chemicals and Fertilizers, Sadananda Gowda addressed the virtual “CII Life Science Conclave 2020” which was organized by Confederation of Indian Industry (CII) on the theme “Energizing Make in India through Life Sciences Sector”.
About National Investment and Infrastructure Fund Limited:
Managing Director and CEO – Sujoy Bose
Headquarter – Mumbai, Maharashtra