Prime Minister Narendra Modi met Citi Chair and CEO Jane Fraser and discussed India's economic growth and investment landscape, along with opportunities for the global major to continue supporting the country's key growth priorities, it was announced on Thursday.
The Prime Minister shared his vision for accelerating growth and economic momentum to achieve the objective of Viksit Bharat 2047, Citi said in a statement. The discussion, which happened on Wednesday, covered a range of topics, including investment and capital flows into India, opportunities for India's corporate sector abroad, alternative energy and artificial intelligence.
“They explored how Citi can further support India's economic agenda, help attract global investors to the country, and champion Indian companies around the world as they expand to new markets,” according to the statement. The meeting reflected the confidence that global financial institutions have in the reform agenda championed by Prime Minister Modi, whose landmark initiatives have transformed India's banking landscape and accelerated financial inclusion.
Additionally, they discussed opportunities related to the build-out of alternate energy sources for the country, including green energy sources such as solar and green hydrogen. The conversations also covered AI, including the role of regulation and areas where the technology can be leveraged to support economic growth, the statement said.
Fraser was joined by K. Balasubramanian, Chief Executive Officer, Citi India, and they communicated Citi's pride in supporting India for nearly 125 years, addressed Citi's recent growth in the country, and reiterated the firm's strong commitment to supporting the country and its clients.
As the country's leading international bank, Citi is hosting over 1,500 clients and investors at its Citi India Conference in Mumbai from June 3-5. The event aims to raise the India dialogue and spotlight investment opportunities for global capital. The year 2027 will mark Citi's 125th year in India.