<p class="title">In the last leg of her US visit, Finance Minister Nirmala Sitharaman Tuesday participated in the round table co-hosted by Industry chamber CII and the U.S. Chamber of Commerce’s U.S.-India Business Council (USIBC) at Palo Alto in California.<br /><br />The roundtable was attended by senior executives, private sector business leaders, venture capitalists, institutional investors, and representatives of pension and endowment funds, representing combined assets under management of over $1 trillion.<br /><br />The finance minister asked business leaders to be a part of India's growth story.<br /><br />“With a growth forecast of almost 8% in the financial year 2022-23, India is likely to remain the world’s fastest-growing major economy over the next few years, driven by the continued expansion of its technology and start-up ecosystems. In this context, the US-India collaboration in financial services and emerging technologies will support increased investment and innovation, and fintech represents a unique opportunity for sustainable and inclusive growth,” Sitharaman said as she invited leading investors present in the room to become part of the India growth story.<br /><br />The roundtable highlighted India’s emergence from the pandemic as one of the world’s fastest-growing major economies and outlined the Government of India’s efforts to support growth by a process of sustained reforms across sectors, increased capital expenditure, especially in infrastructure, and measures to boost foreign direct investment.<br /><br />"There is a fintech revolution happening in India. From a country that runs the largest financial inclusion programme in the world, to the country that has the highest fintech adoption rate globally to the highest number of real-time online transactions globally, India has a lot to offer to the world. The financial sector in India has recently seen PM-guided and FM-led reforms. We hope that the US venture capitalists, endowment funds, and asset management companies look at India to start their new journey or scale-up existing operations and partner and grow," Taranjit Singh Sandhu, Ambassador of India to the US said.<br /><br /> India is home to one of the fastest-growing Fintech markets in the world, with transaction values estimated to grow at a CAGR of 20% to reach $138 billion by 2023.<br /><br />Among the businesses and funds that attended the roundtable included Blackstone, Brevet Capital, Citi, Nova Credit, Western Digital, Palo Alto Networks, The Regents of the University of California, Lightspeed House Ventures, Insight Partners, Morgan Stanley, Powerhouse Ventures, Blume Ventures, Bow Capital, Nasdaq, and others.<br /> </p>
<p class="title">In the last leg of her US visit, Finance Minister Nirmala Sitharaman Tuesday participated in the round table co-hosted by Industry chamber CII and the U.S. Chamber of Commerce’s U.S.-India Business Council (USIBC) at Palo Alto in California.<br /><br />The roundtable was attended by senior executives, private sector business leaders, venture capitalists, institutional investors, and representatives of pension and endowment funds, representing combined assets under management of over $1 trillion.<br /><br />The finance minister asked business leaders to be a part of India's growth story.<br /><br />“With a growth forecast of almost 8% in the financial year 2022-23, India is likely to remain the world’s fastest-growing major economy over the next few years, driven by the continued expansion of its technology and start-up ecosystems. In this context, the US-India collaboration in financial services and emerging technologies will support increased investment and innovation, and fintech represents a unique opportunity for sustainable and inclusive growth,” Sitharaman said as she invited leading investors present in the room to become part of the India growth story.<br /><br />The roundtable highlighted India’s emergence from the pandemic as one of the world’s fastest-growing major economies and outlined the Government of India’s efforts to support growth by a process of sustained reforms across sectors, increased capital expenditure, especially in infrastructure, and measures to boost foreign direct investment.<br /><br />"There is a fintech revolution happening in India. From a country that runs the largest financial inclusion programme in the world, to the country that has the highest fintech adoption rate globally to the highest number of real-time online transactions globally, India has a lot to offer to the world. The financial sector in India has recently seen PM-guided and FM-led reforms. We hope that the US venture capitalists, endowment funds, and asset management companies look at India to start their new journey or scale-up existing operations and partner and grow," Taranjit Singh Sandhu, Ambassador of India to the US said.<br /><br /> India is home to one of the fastest-growing Fintech markets in the world, with transaction values estimated to grow at a CAGR of 20% to reach $138 billion by 2023.<br /><br />Among the businesses and funds that attended the roundtable included Blackstone, Brevet Capital, Citi, Nova Credit, Western Digital, Palo Alto Networks, The Regents of the University of California, Lightspeed House Ventures, Insight Partners, Morgan Stanley, Powerhouse Ventures, Blume Ventures, Bow Capital, Nasdaq, and others.<br /> </p>
