May , 2018
Global corporations with a combined market cap of $ 8.9 trillion come to India
13:59 pm

Hemant Kanoria

Hemant Kanoria, Chairman and M.D., Srei and Trustee, Kanoria Foundation (third from the right), with Suresh Prabhu, Union Minister of Commerce and Industry and Civil Aviation, Amitabh Kant, CEO, Niti Aayog, along with the delegates at the International Business Congress in Delhi.


The International Business Congress (IBC), an international non-governmental and non-profit organisation with 122 members from 28 countries worldwide, held its annual general meeting for the first time in India at the invitation of Hemant Kanoria, Chairman and Managing Director, Srei and Trustee, Kanoria Foundation.

More than 100 global corporations with a combined market capitalisation of $ 8.9 trillion and annual revenue of $ 2.3 trillion participated in IBC’s twenty-first annual general meeting in New Delhi reflecting India’s meteoric rise as an economic powerhouse. The event served as a platform for economic co-operation, bringing forward proposals for removing bottlenecks and building a favourable environment for safe and efficient entrepreneurial activities. The event is also expected to enhance opportunities for investments and trade cooperation between Indian and global corporations.

“The government is on a mission mode to usher in structural reforms aimed at improving the business climate in India. Many outdated laws have been repealed. The foreign direct investment (FDI) regime has been liberalised and new laws such as the Insolvency and Bankruptcy Code have allayed investors’ apprehensions on lack of exit route from their investments in India. Technology is also being embraced in a big way to make government processes more transparent and hassle-free. Now, India is definitely one of the most attractive investment destinations for global corporations,” said Hemant Kanoria.

The list of attendees of IBC’s twenty first annual general meeting included the Russian natural gas major Gazprom, the German energy giant Uniper Global Commodities SE, Schneider Electric, Cisco Solutions LLC, Shell Exploration and Production Services B.V., Siemens A.G., Sumitomo Mitsui Banking Corporation Limited, J.P. Morgan Securities PLC, KPMG JSC, Hewlett Packard Inc., Goldman Sachs Russia Limited, Deutsche Bank A.G., UBS Bank Limited (Russia) and several other large global corporations. Suresh Prabhu, Union Minister of Commerce and Industry and Civil Aviation and Amitabh Kant, Chief Executive Officer, National Institution for Transforming India Aayog (NITI Aayog) also graced the event.

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