Treasury Secretary is in the US to attend the IMF WB Spring 2022 meeting.
Treasury Secretary is in the US to attend the IMF WB Spring 2022 meeting.
Finance Minister Nirmala Sitharaman on Thursday met with CEOs of major American firms including FedEx and Mastercard and discussed various investment opportunities in India as the country poised to become the world’s fastest growing major economy.
Treasury Secretary is in the US to attend the IMF WB Spring 2022 meeting.
Raj Subramanian, President and CEO-designate of FedEx, mentioned during the meeting with the finance minister that he has a positive view of India and has significant plans for expansion, including in the area of skills. Acknowledging the government’s commitment to integrated development through PM Gati Shakti Masterplan, Mr Subramanian said the company is looking at R&D centers in India. Last year, Prime Minister Narendra Modi launched a Rs 100 lakh crore national master plan for multimodal connectivity, aiming to develop infrastructure to reduce logistics costs and boost the economy.
PM Gati Shakti aims to reduce logistics costs, increase handling capacity and reduce turnaround time. The plan aims to bring more power and speed to projects by connecting all concerned departments on one platform.
According to Economic Survey 2021-22, India is expected to grow by 8-8.5% in the current fiscal year ending in March 2023.
Ms. Sitharaman also held a meeting with Julie Sweet, Accenture’s Chairman and CEO. “Mrs. Sweet praised the GoI’s proactive and transparent approach, saying that @Accenture is adding a presence in additional Tier II cities in India and is focused on upskilling talent to prepare for new opportunities. Ms. Sweet also shared that 47% of her workforce in India are women,” the Treasury said in a tweet.
During the meeting with Mastercard CEO Michael Miebach, Ms. Sitharaman updated on the Government of India’s commitment to digital financial inclusion with a focus on women and SMEs through the development of best-in-class, homegrown technology solutions.
“FM Smt. @nsitharaman asked Mr. @MiebachMichael @Mastercard how lessons from India’s #FinancialInclusion program can be used to create solutions for the world,” the ministry tweeted.
Mastercard updated the finance minister on its plan to build massive data centers in India and the company’s focus on upskilling and digitizing small businesses.
In another engagement of this nature, she also met the global CEO of the consulting firm Deloitte Punit Renjen.
“Mr @PunitRenjen mentioned that @Deloitte is expanding its operations in India to smaller cities like Coimbatore and Bhubaneswar. Additionally, he said, @Deloitte has developed tools to improve poor rural residents’ access to health facilities and has also championed #ClimateAction in India. ‘ it said in a separate tweet.
