The South Asian Times

17 January 2020 22:31 PM

India attractive investment destination: Experts at Princeton India Business Conclave

By Suchitra Srinivas

New York: Consulate General of New York along with the Federation of Indian Associations of NY, NJ and CT organized the Princeton India Business Conclave in New Jersey on November 24th.  This is part of furthering efforts to integrate the Indian diaspora into the $ 5 trillion growth trajectory that the Indian government has envisaged. 

Speaking at the event, the Consul Trade Devi Prasad Misra indicated that with the easing of business ecosystem, the time was just right for the investors to get connected with India.

The banking sector reforms, the introduction of the Aadhaar cards for a common identity, the GST regulations and the infrastructural advancement all paint a welcome story, said he assuring the investment climate is friendly. 

The conclave had some eminent speakers share their thoughts about doing business in India. Gijo Joseph, president and CEO Kotak Mahindra observed that the prospects for growth in the economy was huge. The lowering of inflation is a sign for boosting business opportunities. The banking sector regulation and unification of the public sector banks pose a great opportunity for business growth, he observed.

Acknowledging the success of economic reforms, Nagaraja Kumar Deevi, senior financial advisor said the opportunities in the Fin tech obviously in the block chain areas were large.  Land reforms offered opportunity in the Agri business to scale up production, bring in modernization and for businesses to focus on organic farming he said. 

Major Krishna K Chari, an entrepreneur himself observed that the startup ecosystem is promising in India. The last decades have seen huge development in logistics and supply chain management areas. The increased purchasing power is always a great advantage for business growth, he added. 

Observing that states like Maharashtra and Tamil Nadu have been growing at rates over 8 per cent which is higher than some of the countries across the globe he said this should be a reassuring factor for the investors. Major Krishna, also the co-chair of the Eastern chapter of the American Tamil Entrepreneur Association recalled that the recent Tamil Nadu Chief Minister’s visit could see signing up of projects over Rs. 5000 crores. 

Dr Punit Arora, Associate Prof CUNY observed that India has now become an active startup scene with some 50000 startups registering at the end of last year. These startups represent a great investment potential. He insisted that with the ballooning population growth in the country, India has to welcome projects that help cleaner and more sustainable development model.  

The Indian Consulate New York is planning to host more of these interactive sessions with the Indian diaspora reaching communities with thick Indian population.

Update: 02 Dec, 2019