After meeting face-to-face with India’s Minister for Finance, Nirmala Sitharaman, in New York during the Minister’s U.S. visit, Citi CEO Jane Fraser noted that India is forging economic reform “despite a very tough spring,” and the Indian economy is once again poised to fire on all cylinders.
Opportunities abounded given the country’s leadership position in the digital economy, Fraser added, while also cementing the global bank’s commitment to doing business in India. The country will continue to be an “important destination for investment” as global businesses chart their post-pandemic recovery plans, she observed.
“We are energized by the work that Minister Sitharaman is leading to enhance the country’s investment climate,” the CEO remarked, pointing to India as the “gold standard” in digital investments and transformation.
“We are delighted to see the strength of the recovery that’s happening on the ground there,” Fraser noted, while cautioning against the impact of the current supply chain crisis on all countries.
“We are very positive about the opportunities for the country. We’re seeing a real pickup in cross border flows. India is going to be a beneficiary,” she commented.
Sitharaman explained that Citi will focus on “digitization and partnerships [with financial technology firms] toward digital transformation. “With the current reset in the global supply chain and clear-headed and committed leadership in India, I see opportunities galore in India for all investors and industry stakeholders,” the Minister added.
