Finance Sector Leaders Meet Modi, Excited About India

Published: 24th September 2015 09:21 PM  |   Last Updated: 24th September 2015 09:22 PM   |  A+A-


NEW YORK: At Prime Minister Narendra Modi's roundtable with leaders of the financial sector on Thursday, "90 percent was about all the excitement about being in India", according to Kalpana Morparia, the India CEO of JP Morgan & Co.

Asked by reporters about the tardy pace of reforms in India, she said: "Even if the pace is slow, there is confidence in India. There was an understanding of the difficulties posed by the democratic system among those at the roundtable."

Speaking after the roundtable at the Waldorf Astoria Hotel where Modi is staying, Morparia said: "It was not a political discussion, it was about investing in India."

She said she was "absolutely" certain about investments flowing into India.

The finance sector leaders raised issues like the ease of doing business in India, reforms in the insurance sector and in bankruptcy laws.

Vikas Swarup, the external affairs ministry spokesman, told reporters that Modi was very candid at the rountable. He said the CEOs said they found doing business in India was getting better and were bullish on India.

Modi assured them that bottlenecks to doing business in India would be removed. The roundtable was convened by Jamie Dimon, the CEO of J.P. Morgan Chase. 

Among those at the meeting were leaders of TATA-AIG and Blackstone, the private equity and investment banking company.

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