Over the last decade, India has emerged as a beacon of economic growth, showcasing an impressive average annual growth rate of around 7% despite global headwinds due to geopolitical factors, increased inflation etc.
This remarkable trajectory can be attributed to various factors, including robust government expenditure on capex, competitive demographics, a surge in consumer spending, expansion of the middle class, and the strong resilience of the services sector. The government’s implementation of pro-business policies and strategic structural reforms has supplemented this, thereby providing a robust foundation for India’s economic aspirations.
However, as India aspires to become the third-largest economy by 2030 from the fifth-largest economy presently, the role of the financial sector and foreign investments, both FDIs and FIIs, shall remain extremely important. Together, they shall play an important role in helping the Indian economy tread towards a higher growth trajectory by becoming a catalyst for financing growth, technology advancement, job creation and fuelling the sunrise sectors such as Startups, AI, Drones, Robotics, to name a few.
Against this backdrop, CII proposed to organise a two-day summit on ‘Financing 3.0’ with the broad theme ‘Financing for Viksit Bharat’ in September 2024. The key objective of the Summit is to identify and explore various sources of funding for sectoral and overall economic growth by bringing together key stakeholders at this common platform.