Sitharaman addressed a roundtable on “Investment Opportunities in India” at the New York Stock Exchange (NYSE), the world’s oldest and largest bourse with around 11 Indian companies listed on it, according to a finance ministry post on X (formerly Twitter).
“The roundtable is being attended by various pension funds and other institutional investors and fund managers across USA, forming one of the largest financial systems in the world in terms of total assets under management,” the ministry said in the post.
Economic affairs secretary Ajay Seth also attended the roundtable.
The International Monetary Fund (IMF) has forecast India will remain the world’s fastest-growing major economy in the current fiscal and the next, with rates of expansion touching 7% and 6.5%, respectively, more than double the global averages.
India’s elevated economic growth has created opportunities for investors, especially the foreign ones. After a marginal drop last fiscal, foreign direct investment (equity) inflows into India rebounded in the June quarter, with an almost 48% jump from a year before to $16.2 billion.Gross foreign direct investment (FDI) — which includes FDI equity, reinvested earnings, equity capital of unincorporated bodies and other capital — stood at $22.5 billion in the June quarter, up 28% from a year earlier.Sitharaman is on a visit to the US from October 20 to 26 to attend the annual meetings of the World Bank Group and the International Monetary Fund (IMF), along with crucial huddles of the G20 nations.
She will also take part in the meeting of G20 finance ministers and central bank governors in Washington DC, among other things.