New Delhi: On the sidelines of the inaugural Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum, the Department of Commerce and Invest India organized a meeting to showcase various investment opportunities in India.
In his inaugural address, Secretary, Department of Commerce, Sunil Barthwal, stressed how India's growth rate is nearly double that of other emerging market economies. He remarked on how this strong growth is also leading to a trend of 'reverse flipping', where Indian start-ups that once moved abroad for capital access and tax benefits are now returning home. He emphasized how the digital economy along with emerging technologies like AI and the rise of data centers were key to future Indian growth.
The meeting held at Marina Bay Sands, Singapore, attracted over 60 participants, including global investors from the US, Singapore, Japan, Australia, Korea, and other countries, as well as India’s private sector and government officials. The event brought together investors and financial institutions from IPEF Member countries like Temasek, Global Infrastructure Partners, GuarantCo, Private Infrastructure Development Group (PIDG), Goldman Sachs, I Squared Capital, Mizuho Bank Ltd, Advantage Partners, Nomura, DBS Bank, and Citi Bank. The Indian infrastructure and climate tech companies showcased their solutions and engaged with international investors to tap into global markets.
Indian High Commissioner to Singapore, H.E. Dr. Shilpak Ambule, focused on the fundamentals that are driving Indian growth. He said that the investment in physical and digital infrastructure will have multiplier effects on the Indian economy, and that the legislative and regulatory changes have created a pro-market field, providing a conducive and predictable policy environment. He stressed how shifting global supply chains and Indian efforts to modernize infrastructure will enable India to participate in them.
This was followed by an India opportunity presentation in which Invest India showcased India’s various government flagship initiatives like a flourishing startup ecosystem, a sizable pool of skilled and talented professionals across diverse industries, a push for investments in infrastructure projects, and policy reforms aimed at streamlining regulations, enhancing transparency, and improving Ease of Doing Business.
MD and CEO of Invest India, Nivruti Rai highlighted that India is keen on collaborating with investors, clean economy firms, and innovative startups to drive sustainable infrastructure, climate technology, and renewable energy projects to meet Net Zero targets.
Speaking during the fireside chat titled the Charting India Opportunity, Radhika Rao, Senior Economist and Executive Director, mentioned that India’s strength is in 4C’s – Consistency & Continuity in Policy and reforms; Increasing Capex through government, household spending and private sector; Composition of trade shifting towards manufacturing sectors; Increasing consumption over the next 5 years.
Sonal Varma, Managing Director, Nomura spoke in detail about the Nomura India report. The report shows that the highest number of companies are looking at India more than any other geography during their “Bottom’s up” study, a survey of around 130 companies mapping their investments in sectors and countries. India is attracting investments in broad-based sectors ranging from semiconductor assembly to testing, automobiles to capital goods.
Kunal Agarwal, Managing Director, I Squared highlighted that India is going through an Infrastructure Supercycle, which is an enabler for the digital revolution, and India is viewed as a secular investment opportunity.
During the event, members of the industry expressed that the inaugural forum was a significant step forward in promoting economic cooperation in the Indo-Pacific region. They emphasized the importance of industries working together to address the challenges they faced and create new opportunities for growth. The forum also underscored the crucial nature of a clean economy and supply chain resilience.
About IPEF and Clean Economy Investor Forum
The Indo-Pacific Economic Framework for Prosperity (IPEF) was launched in May 2022 and currently includes 14 partners – Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, United States, and Vietnam. The IPEF, comprising four pillars of cooperation, namely Trade, Supply Chain, Clean Economy, and Fair Economy, provides a platform for countries in the region to collaborate on advancing resilient, sustainable, and inclusive economic growth and aims to contribute to cooperation, stability, and prosperity in the region.
The IPEF Clean Economy Investor Forum, one of the initiatives under the IPEF, brought together the region’s top investors, philanthropies, financial institutions, innovative companies, start-ups, and entrepreneurs to mobilize investments into sustainable infrastructure, climate technology, and renewable energy projects. /BI
