Abu Dhabi, 28 February, 2018: First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest and safest financial institutions, hosted a panel discussion to explore opportunities in India during the ninth Global Financial Markets Forum (GFMF), which concludes today.
The Global Financial Markets Forum (GFMF), the region’s premier financial markets conference, is being held under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, at Emirates Palace in Abu Dhabi. Bringing together economic experts and decision-makers from the UAE and the world, GFMF has attracted over 1,600 delegates to network, exchange ideas and shape the global financial agenda.
Ms. Arundhati Bhattacharya, Former Chairperson of State Bank of India, Mr. BV Krishnan, CEO of KKR India Financial Services and Dr. Vikram Mansharamani, academic, author, entrepreneur and investor, participated in the panel discussion, which explored the key issues affecting the investment climate in India.
The panelists praised recent laws and regulations, such as the Bankruptcy Law, which will provide long-term growth and encourage investment. They agreed that governance is key to ensuring banks run efficiently and operational risks are mitigated. They also highlighted the importance of having skilled human capital in the workforce, especially in the finance sector.
The panel discussed the opportunities for economic growth and development originating from India’s demographics, reform programme and increasing use of technology by both the public and private sectors. With job creation being a prominent issue, the panelists emphasised the importance of enhancing education levels in order to create the right skillset in the workforce, as well as developing the infrastructure needed to create new jobs in various sectors
The panelists concluded with discussion around India progress in building a new business model that attracts local and foreign investment.
The session was moderated by Una Galani, Associate Editor - Reuters Breaking Views.