‘India story is on a firm footing’: Jaitley tells investors in San Francisco

(Image Credits : mid-day.com)

(Image Credits : mid-day.com)

San Francisco, June 25 (ANI): Dispelling any notion of waiting and watching by the long-term investors, Finance Minister Arun Jaitley said here today that the India story is on a firm footing and whatever outstanding issues are there are under the government’s active consideration.

Addressing the long-term investors at a roundtable organized by Confederation of Indian Industry and Kotak in San Francisco today, Jaitley alluded to the extensive reforms done by the government in the last one year and said that the economic fundamentals are very strong, making India one of the most attractive investment destinations.

He reaffirmed that the lack of majority in the Rajya Sabha does not lead to indefinite delays; in fact there are no precedents of permanent hold up.

The Finance Minister urged the investors to look at India as a destination where investments can be committed now, without delay.

In a unique coming together of long term investors, the roundtable featured some of the biggest funds in the United States including Calpers, Calstrs, Townsend Group, Regents of the University of California, Hall Capital Partners, Stanford Management Company, J Paul Grey Trust, Dodge & Cox, Franklin Templeton, Geneva Advisors, Matthews, Route One, Standard Pacific, Think Investments and Chris Hansen.

Observing the collective value of the Assets Under Management of the investors inside the room was upwards of USD one trillion, CII president designate Dr. Naushad Forbes said that this meeting is one of the most important reaching out by the Government of India, in presenting the Indian story to investors, who have the potential of significantly meeting the capital requirements of India.

“The Finance Minister was articulate and made a convincing pitch about the opportunities that India presents today,” he added.

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