PM Narendra Modi to chair Virtual Global Investor Roundtable 2020 on Thursday; heads of 20 top institutional investors to participate
New Delhi: Prime Minister Narendra Modi will chair the Virtual Global Investor Roundtable (VGIR) 2020 on Thursday which can be attended by heads of 20 high institutional traders from the US, Europe, Canada, Korea, Japan, Middle East, Australia and Singapore.
VGIR 2020 will give attention to discussions round India’s financial and funding outlook, structural reforms and the federal government’s imaginative and prescient for making the nation a USD 5 trillion financial system.
“All the main world traders, together with sovereign wealth funds and pension funds of the world, could be collaborating. We have affirmation from such traders who could be collaborating on this digital convention.
“As a matter of fact, assets under management for these funds would be more than USD 6 trillion,” Economic Affairs Secretary Tarun Bajaj instructed reporters at a digital occasion.
The Indian facet on the roundtable can be represented by enterprise leaders, monetary market regulators, Finance Minister Nirmala Sitharaman and RBI Governor Shaktikanta Das.
The world institutional traders representing key areas together with the US, Europe, Canada, Korea, Japan, Middle East, Australia and Singapore will take part in VGIR 2020, Bajaj mentioned.
Some of those traders could be participating with the federal government for the primary time, he added.
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Some of the distinguished funds collaborating within the occasion embrace Temasek, AustralianSuper, CDPQ, CPP Investments, GIC, Future Fund, Japan Post Bank, Japan Bank for International Cooperation, Korean Investment Corporation, Nippon Life, Mubadala Investment Company, Ontario Teachers, Teachers Retirement Texas and Pension Denmark, he mentioned.
Apart from this, there can be six main 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) to share their expertise, he mentioned.
“The whole idea of this conference is… To give them (investors) information about various investment opportunities in India, the present economic situation in India and what opportunities they have,” he identified.
The occasion will present a possibility to main world traders and Indian enterprise leaders to have interaction and deliberate with senior policymakers on the right way to additional speed up the expansion of worldwide investments in India, he added.
“If they have any concerns, we would also take care of those concerns and try and answer them. I would also like to tell you that we have been interacting with these funds for the last five or six months. We have undertaken a lot of activities on the basis of our interactions with them,” Bajaj emphasised.
Based on previous interactions, the federal government has completed away with dividend distribution tax and prolonged tax exemption to sovereign wealth funds and pension funds with sure situations, he mentioned.
VGIR 2020 can even present an event for all stakeholders to additional cement the sturdy partnerships which have been constructed and foster engagement with worldwide institutional traders who wish to enhance their Indian investments.
Foreign investments in India this fiscal at USD 35.7 billion was the highest-ever for the primary 5 months of a monetary 12 months.
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