Nirmala Sitharaman met with the world’s top CEOs, said- ‘India has taken full advantage of digitization’. Nirmala Sitharaman said Opportunities galore in India for investors and industry stakeholders

Nirmala Sitharaman met the world's top CEOs, said- 'India has taken full advantage of digitization'

Sitharaman reached New York late on Friday night after her visit to Washington DC.

Finance Minister Nirmala Sitharaman on Saturday addressed the stalwarts of the global industry at a round table organized by industry body FICCI and the US-India Strategic Forum. He said that the global supply chain is being revamped, creating huge opportunities for all investors and industry stakeholders in India. He said that there are huge opportunities in our country for all investors and industry stakeholders due to the re-planning of the global supply chain and India’s clear-cut leadership.

Sitharaman reached New York late on Friday night after her visit to Washington DC. In Washington DC, he attended the annual meetings of the World Bank and the International Monetary Fund. He said that startup companies in India have grown very fast and now many of them are raising funds from the capital market. This year alone, around 16 startups have joined the Unicorn Club.

Full benefits of digitization

Unicorn refers to a valuation of over a billion dollars. The Finance Minister said, “India has taken full advantage of digitization even in challenging times.” Financial technology companies are playing an important role in this.

Sitharaman on Saturday met Mastercard Executive Chairman Ajay Banga and Mastercard Chief Executive Officer (CEO) Michael Maybach, FedEx Corporation President and COO Raj Subramaniam, Citi CEO Jane Fraser and IBM Chairman and CEO Arvind Krishna, Prudential Finance Inc. Also met with Business Head Scott Sleister and Legatum’s Chief Investment Officer Philip Vasilio.

Mastercard will continue to invest in India

Banga said after this meeting that India is on a strong path because of its continuous reforms. He said, “I am particularly impressed with the Production Based Incentive (PLI) scheme.” Meebach said that Mastercard will continue to invest in India. Subramaniam said, “FedEx’s business in India is growing very fast. We are very excited about India. The fact that we have a global air network is the only reason we can deliver COVID-19 related material to India when needed.

Fraser said the city has a very proud and strong history in India. “There is concern about supply chain disruptions, but this is the situation all over the world,” he said, adding that the digitization that India has done is really impressive. He said that India will be a major center for digital trade and digital services.

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