Central Asia and Eastern Europe are Next Frontiers of Investment
EBRD focuses on the private sector and provides at least 60 per cent of lending to private sector. India recently became the 69th member of the Londonheadquartered EBRD.
India will benefit from the European Bank for Reconstruction and Development (EBRD) membership in the Central Asia and Eastern European regions, said Subhash Chandra Garg, Secretary, Department of Economic Affairs, Ministry of Finance, Government of India. He was speaking at the EBRDFICCI Business Forum on the theme 'Mobilising Private Sector Finance in the EBRD Region and How Indian Companies can Benefit'. The forum was jointly organized by FICCI and the EBRD with support from EXIM Bank in Mumbai on 22 June 2018. Garg said we look at Central Asia and Eastern Europe as the next frontier. The EBRD membership will ease out several problems faced by entrepreneurs in those regions.
EBRD focuses on the private sector and provides at least 60 per cent of lending to private sector. India recently became the 69th member of the London-headquartered EBRD.
Garg added that linkages in terms of trade, investment, banking, contracts in the region remain relatively small and in case we can turn this around, the truest benefit of EBRD membership will come. Investment in the region would be a bigger story than exports. Producing goods and services thereby investing would provide better opportunities to Indian investors.
Suma Chakrabarti, President, EBRD, said with India becoming a member at least 3/5th of the world's population is represented. As India, has now become a part-owner of EBRD, I hope Indian companies will become our partners in realizing our vision for the world of tomorrow together.
He added that EBRD's emphasis on mobilizing private sector finance in the interest of global public goods means that the bank now stands centre stage of the world's development architecture as the international community gears up to deliver Sustainable Development Goals by 2030.
Rajnish Kumar, Chairman, State Bank of India, said that access to EBRD's member countries and sectoral knowledge will boost India's investment opportunities and pave the way for Indian corporates to expand their wings. He added that to maintain the high growth trajectory, it is necessary that continuous flow of investment is ensured particularly in the area of infrastructure and key social sectors. This continuous flow of investment should be made available at lower cost for sustainable growth.
David Rasquinha, Managing Director, Exim Bank of India, said that the relationship with EBRD will help in taking export figures up in the member countries of EBRD as there is opportunity for Indian investors.
Hemant Kanoria, Chairman & Managing Director, SREI Infrastructure Finance, said that Indian investors will gain from the experience of EBRD and local expertise it offers in its countries of operation.
Himanshu Kaji, Co-Chairman, FICCI National Committee on Capital Markets and Executive Director & Group COO, Edelweiss Financial Services Ltd., emphasized that partnering with EBRD provides opportunity for India to build a sustainable future growth through investment in some of these world regions.
Nandita Parshad, Managing Director, Energy and Natural Resources, EBRD, said that Indian investors can use EBRD not only as the source of financing in the region but also as the source of deep local knowledge and presence.
Subhash Chandra Garg, Secretary, Department of Economic Affairs, Ministry of Finance, Government of India.