Singapore: 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 high-profile meeting to highlight various investment opportunities in India. The event, held at Marina Bay Sands, brought together over 60 participants, including global investors, financial institutions, and key stakeholders from the US, Singapore, Japan, Australia, Korea, and India.
In his opening address, Secretary of the Department of Commerce, Sunil Barthwal, emphasized India’s impressive growth rate, which is nearly double that of other emerging market economies. He noted a trend of ‘reverse flipping,’ where Indian start-ups that had moved abroad for capital access and tax benefits are now returning home. Barthwal highlighted the pivotal role of the digital economy and emerging technologies like AI, alongside the rise of data centers, in driving India’s future growth.
The event attracted prominent investors and financial institutions from IPEF member countries, including 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. Indian infrastructure and climate tech companies showcased their innovative solutions, engaging with international investors to tap into global markets.
Indian High Commissioner to Singapore, H.E. Dr. Shilpak Ambule, spoke about the fundamental factors driving India’s growth. He highlighted the multiplier effects of investments in physical and digital infrastructure and the pro-market legislative and regulatory changes that have created a conducive and predictable policy environment. Dr. Ambule stressed the opportunities arising from shifting global supply chains and India’s efforts to modernize its infrastructure.
The meeting featured an India opportunity presentation by Invest India, showcasing the country’s dynamic startup ecosystem, a sizable pool of skilled professionals across various industries, investments in infrastructure projects, and policy reforms aimed at improving the Ease of Doing Business.
MD and CEO of Invest India, Nivruti Rai, emphasized India’s eagerness to collaborate with investors, clean economy firms, and innovative startups to drive sustainable infrastructure, climate technology, and renewable energy projects to meet Net Zero targets.
During a fireside chat titled “Charting India Opportunity,” Radhika Rao, Senior Economist and Executive Director, highlighted India’s strengths in policy consistency, increasing capital expenditure, shifting trade composition towards manufacturing, and rising consumption over the next five years.
Sonal Varma, Managing Director at Nomura, discussed the findings of the Nomura India report, which indicates that more companies are looking at India than any other geography in their “Bottom’s up” study, surveying around 130 companies. The report shows India attracting investments across a broad range of sectors, from semiconductor assembly and testing to automobiles and capital goods.
Kunal Agarwal, Managing Director at I Squared, pointed out that India is experiencing an Infrastructure Supercycle, which is enabling a digital revolution and presenting a secular investment opportunity.
Industry members at the event underscored the significance of the inaugural forum in promoting economic cooperation in the Indo-Pacific region. They highlighted the importance of collaborative efforts among industries to address challenges and create new growth opportunities. The forum also emphasized the crucial role of a clean economy and supply chain resilience.