PM delivers keynote address at Bloomberg Global Business Forum, meets Global CEOs and Senior Executives of leading American Companies
GN Bureau | September 26, 2019
The Indian economy has benefited from the climate of political stability in the country, prime minister Narendra Modi said, as he invited the global investor community to India.
Modi delivered the keynote address at the Bloomberg Global Business Forum and later interacted with global CEOs and senior executives of leading American companies in New York Wednesday.
Addressing the Bloomberg Global Business Forum, he talked about the future direction of India’s growth story. He that India’s growth story was built on four pillars, namely democracy, demography, demand and decisiveness. The PM also highlighted global recognition of the successful reforms introduced by the government. In this regard he mentioned the ten-rank jump in the Logistics Performance Index, the 13-point jump in the Global Competitiveness Index, the 24-rank rise in Global Innovation Index, and the 65-rank improvement in the Ease of Doing Business index of the World Bank.
The PM also spoke of the Bloomberg National Brand Tracker 2018 survey that recently ranked India as the top performing Asian economy in attracting global investment. In seven out of 10 indicators of this report – political stability, currency stability, high quality products, anti-corruption, low cost of production, strategic location and respect for IPRs, India has been ranked at the top position.
On the technology and innovation front, Modi invited the global business community to invest in India and stated that their technology and India’s talent can together change the world; their scale combined with India’s skill-set can accelerate global economic growth.
Later, he chaired an exclusive roundtable discussion, at New York, with 42 global captains of industry from across 20 sectors. The companies that participated in the roundtable had a combined net worth of US$ 16.4 trillion, of which their net worth in India is US$ 50 billion.
The gathering included Ginni Rometty, chairman, president and CEO of IBM; Douglas McMillon, president and CEO of Walmart; James Quincey, chairman and CEO of Coca-Cola; Marillyn Hewson, CEO of Lockheed Martin; Jamie Dimon, chairman and CEO of JP Morgan; James D. Taiclet, CEO of American Tower Corporation and co-chair of the India-US CEO forum; and senior executives from Apple, Google, Marriott, VISA, Mastercard, 3M, Warburg Pincus, AECOM, Raytheon, Bank of America, and Pepsi among others.
The participants appreciated the great strides made by India in striving towards ease of doing business and many reforms which have led to a conducive environment for investors. The business leaders complimented the PM on taking strong decisions with a focus on Ease of Doing Business and making India more investor-friendly. The leaders also mentioned that their companies remained committed to the growth story of India and, on the back of this, continued to grow their footprint in India.
The CEOs briefly outlined their specific plans in India and also put forth recommendations to aid India’s efforts towards skill development, Digital India, Make in India, inclusive growth, green energy and financial inclusion.
In response to the CEOs’ comments, Modi stressed upon continued political stability, predictability of policy, and pro-development and pro-growth policies. He further emphasised the development of tourism, plastic recycling and waste management initiatives, and to enhance the business of MSMEs, especially those which create more opportunities for farmers and agriculture. He urged the companies to leverage the Startup India innovation platforms in partnership with other countries – to make solutions not only for India, but for the world, including challenging issues like nutrition and waste management.
A new study titled, ‘Quantitative analysis of Microplastics along River Ganga’ by Toxics Link has found heavy concentration of microplastics in the Ganga. All samples collected for study from the river at Haridwar, Kanpur and Varanasi were found to be polluted with microplastics.
At least 79 people were killed and 56 were missing as the flood situation in Maharashtra remained grim on Saturday. Torrential rainfall in various parts of the state, coinciding with high tides and also discharge from dams, led to inundation of many regions and floods caused landslides in some places too.
Within days of announcing its new Electric Vehicle Policy 2021, Maharashtra Friday announced its partnership with Climate Group’s EV100 network to push and promote electric vehicles and reduce CO2 emissions. The policy, meanwhile, was also notified on Friday. Climate Gro
Severe rains battered Raigad, Thane, Ratnagiri, Kolhapur and Satara regions of Maharashtra with rains in Ratnagiri district breaking the 40-year record. As rivers in these districts crossed warning levels, the National Disaster Response Force (NDRF), the State Disaster Response Force (SDRF), Coast Guard, N
Dr. Praveen Kumar, director, department of pediatrics, Lady Hardinge Medical College, New Delhi, talks about various issues including impact of Covid-19 on children, the need to protect them, and vaccinating pregnant women and lactating mothers. How has the pandemic affected
There has been an active debate globally and in India about the digital divide. This debate has gained additional weight during the Covid-19 pandemic because the acceleration of the need for digital access to health and other social services has thrown this issue into sharper relief. A critical public poli