India's G20 presidency has opened doors for global investment: Union MoS Finance Pankaj Chaudhary
Oct 28, 2023
New Delhi [India], October 28 : Union Minister of State for Finance Pankaj Chaudhary on Saturday said that India's G20 presidency has opened doors for global investment.
Addressing the 6th Annual Convention on Capital Market and Commodity Market hosted by PHD Chamber of Commerce and Industry in Delhi, Pankaj Chaudhary said, "Under the able leadership of Prime Minister Narendra Modi, significant developments were made with world leaders. Our PM has inspired India to transform obstacles into opportunities and aspirations into achievements.
"India's G20 presidency has opened doors for global investment.We know that the G20 will support the financial sector in ensuring sustainable economic growth and the stability of financial markets," he added.
The theme of the convention was "INDIA SHINES BRIGHT @ G20: Pioneering Financial Market Digitization & Regulations".
Speaking on the digitization wave happening in India, the MoS said, "The development of digital infrastructure is an important step in enhancing trade and commerce in the country. The adoption of digitalization in our capital markets has increased efficiency, transparency and accessibility. Further, by reducing intervention and embracing technology, we can improve the integrity and security of our capital markets."
"Over the past few years, especially after the pandemic, the capital markets and investment services industry have experienced significant growth. Retail participation with new individual investors joining the stock market have increased," he added.
He further stated that financial resilience is a key element of the governance under PM Modi.
"In the times to come and under the able leadership of PM Modi with well-planned and balanced policies of the government, we are paving the way for financial resilience," Pankaj Chaudhary said.
On the occasion, Pankaj Chaudhary lauded the role of PHDCCI in shaping the business model of the country.
PHDCCI President Sanjeev Agrawal said that the theme of today's Capital Market & Commodity Market Convention very aptly states - India Shines Bright, as INDIA is indeed shining bright amongst its G20 partners and we are in the era of pioneering financial market digitization.
"India has significantly advanced on its development goals, increased efficiency in the public sector and unlocked innovation in the private sector by adopting the approach of building Digital Public Infrastructure," Agrawal said.
"Hosting the G20 summit has provided India with global visibility and recognition. This has boosted investor confidence and we are sure to attract foreign investment into Indian capital markets. Further India can advocate for policies and reforms that support capital market growth including promoting regulatory transparency, investor protection, and market integrity," he added.
Mr. Hemant Jain, Senior Vice President, PHDCCI, said that the Capital Market and Commodity Market Convention will serve as an invaluable platform for industry leaders, investors, and regulators to exchange insights and ideas.
He expressed confidence about the potential for growth and innovation within India's financial markets, with a focus on the importance of continued collaboration to ensure a robust and resilient ecosystem.
