Piyush Goyal says US fund house looking to invest $50 billion in India

 

US-based fund house is looking to invest about $50 billion in India in the next 10 years, a reflection of the country’s strong macroeconomic fundamentals, commerce and industry minister Piyush Goyal said Friday.

 

“They said we have invested about $13 billion so far, we expect it to double it in the next four years and then double the figure… in the next four years… just one fund,” Goyal said at the ET NOW Leaders of Tomorrow Awards. He termed the firm “one of the most prominent” investment houses of the US but didn’t disclose its name.

 

Goyal said it shows the excitement of global investors over India, which is the fifth largest economy and no more part of the Fragile Five. Forex reserves have soared to over $600 billion and the government is focusing on modernising India’s infrastructure–rail, roads, ports and airports. The comment followed his post on X earlier in the day: “Discussed the ‘India opportunity’ in my meeting with Mr. Henry R Kravis, Co-Founder and Co-Executive Chairman of KKR, a leading global investment firm from New York.” Goyal emphasised that the world today wants to engage with the country on the trade front and negotiate free trade agreements as India is emerging as a large and trusted partner.

 

“That is the excitement about India today,” he stated. “The fact that today we are the fifth largest economy of the world, no more counted as a Fragile Five economy, solid foreign exchange reserves, $623 billion at the last count, management of inflation appreciated across the globe.”

 

From 100 startups 10 years ago, Goyal said India is now supporting 115,000 registered startups. The country is poised for high growth in the next two or three decades, taking the economy to $35 trillion.

Source- Economictimes

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