Prime Minister Narendra Modi presented a persuasive case for India as an investment destination for foreign investors, when he met members of the board of the largest investment bank in the world, Goldman Sachs.
After more than 10 years, the board gathered in India under the direction of CEO David Solomon. Under Lloyd Blankfein's direction, the board last convened in Mumbai in 2012.
“Had a fruitful discussion with the members of the board and key leadership of Goldman Sachs. Highlighted India’s vast potential for growth, fuelled by recent reforms and a conducive business environment. Also spoke of how India offers several opportunities for global firms,” Modi said on microblogging site Twitter.
The post was accompanied by a picture of the PM with the board, which included Lakshmi Mittal, executive chairman of ArcelorMittal, the second largest steelmaker in the world. The PM has returned from a successful state visit to the US and several crucial deals were signed with top global firms, such as GE, Micron, Google and Amazon, committing large investments in India.
Due to geopolitical risks, some businesses intend to move their manufacturing operations from China to India, which is quickly becoming a major player in the global supply chain. The development of tight relations with the US is anticipated to spark interest in investment from US-based businesses.