The policy and process level economic reforms that India has undertaken over the last two decades have yielded a range of salutary dividends. One tangible demonstration of growing confidence by the global investor community is that India has ranked amongst the top five investment destinations since 2007–08, attracting cumulative FDI inflows of $187 bn and of $97 bn in FII over the last five years. The success of past efforts has also enabled the government to pursue more fundamental reforms. This includes the emphasis on value-added growth, one that generates substantial employment and secures greater market share for Indian products and services globally. Successful pursuit of these targets, however, will require greater infusion of capital and technology by the global investment community, and in turn, for the Government of India to create the requisite policy, regulatory and enforcement mechanisms that ensure beneficial outcomes for all stakeholders. India’s socioeconomic fundamentals remain attractive — a savings rate of 32%, a high rate of GFCF at 34% of GDP, a strong middle class consumer market of 287 million, and a demographic dividend where India will have a high working-age and low dependency ratio till 2040 and beyond.
The “India Day” programme offers a nuanced understanding of the dynamics and growth drivers of the Indian economy. The panel of eminent speakers is led by India’s finance minister, Mr. P. Chidambaram, one of the architects of India’s economic reforms, who will articulate the government’s vision for the Indian economy and underline its strong investment credentials. Dr. Montek Singh Ahluwalia, Deputy Chairman of the Planning Commission, will elucidate the government’s initiatives for infrastructure development, followed by a panel of investors and business leaders discussing finance and other aspects of upgrading India’s infrastructure. The final panel will feature Chief Ministers of select states of India who will identify the noteworthy investment opportunities in their respective jurisdictions.