Nirmala Sitharaman Invites Silicon Valley to India: “Unique Opportunity”

While pitching for collaboration with the US in financial services and emerging technologies in Silicon Valley, Finance Minister Nirmala Sitharaman invited investors to be a part of the country’s growth story.
She said financial technology (fintech) represents a unique opportunity for sustainable and inclusive growth at a round table hosted by the Confederation of Indian Industry (CII) and the US Chamber of Commerce’s US-India Business Council (USIBC).

“India is likely to remain the world’s fastest growing major economy over the next few years, driven by the continued expansion of its technology and start-up ecosystems,” Ms Sitharaman told a group of eminent corporate executives in Silicon Valley. “The US-India collaboration in financial services and emerging technologies will support increased investment and innovation, and fintech represents a unique opportunity for sustainable and inclusive growth,” the Finance Minister said, inviting leading investors to join India’s growth story.

Dr. V Ananth Nageswaran, Chief Economic Adviser, Government of India; Taranjit Singh Sandhu, Indian Ambassador to the United States; Rajat Mishra, Additional Secretary, Department of Economic Affairs, Ministry of Finance; and Nilesh Shah, chairman, CII National Committee on Financial Markets were among those who attended the executive meeting, which was moderated by Atul Keshap, president, USIBC.”In India, a fintech revolution is underway. India has a lot to offer the world, from running the world’s largest financial inclusion programme to having the world’s highest fintech adoption rate to having the world’s highest number of real-time online transactions “Mr. Sandhu stated.

“India’s financial sector has recently undergone PM-led and FM-led reforms. We hope that US venture capitalists, endowment funds, and asset management firms will consider India as a place to launch new ventures or expand existing operations, as well as partner and grow “he stated. Blackstone, Brevet Capital, Citi, Nova Credit, Western Digital, Palo Alto Networks, The Regents of the University of California, Lightspeed House Ventures, Insight Partners, Morgan Stanley, Powerhouse Ventures, Blume Ventures, Bow Capital, and Nasdaq were among the companies and funds that attended the event.

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