India’s investment event at IPEF meet attracts global participation: Commerce Department

Investors from countries such as the US, Singapore, Japan, Australia, Korea participated in a meeting to showcase investment opportunities in India organised by the Commerce Department on the sidelines of the IPEF clean energy meet in Singapore this week, per an official statement.

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“The event brought together investors and financial institutions from IPEF Member countries like that of Temasek, Global Infrastructure Partners, GuarantCo, Private Infrastructure Development Group (PIDG), Goldman Sachs, I Squared Capital, Mizuho Bank Ltd, Advantage Partners, Nomura, DBS Bank and Citi Bank. The Indian infrastructure and climate tech companies showcased their solutions and engaged with international investors to tap into global markets,” the statement issued by the Commerce Department on Friday noted.

India’s keenness on collaborating with investors, clean economy firms, and innovative start-ups to drive sustainable infrastructure, climate technology, and renewable energy projects to meet Net Zero targets, was emphasised by Nivruti Rai, MD and CEO of Invest India.

Reverse flipping

Commerce Secretary Sunil Barthwal, in his address, focussed on how India’s growth rate was nearly double that of other emerging market economies. “He remarked on how this strong growth is also leading to a trend of ‘reverse flipping’, where Indian start-ups that once moved abroad for capital access and tax benefits are now returning home. He emphasised how the digital economy along with emerging technologies like AI and rise of data centres were key to future Indian growth,” the statement said.

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The Indo-Pacific Economic Framework for Prosperity (IPEF) launched in May 2022 by US President Joe Biden in Tokyo, currently includes 14 partners – Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, United States and Vietnam. It comprises four pillars of cooperation, namely Trade, Supply Chain, Clean Economy and Fair Economy. India has so far not participated in the `trade’ pillar.