In today’s first session, panelists discussed India’s role in the region, trends in regional integration, and opportunities and challenges for Asian companies investing in India and vice versa.
L. Brooks Entwistle, Managing Director and CEO, Goldman Sachs (India), discussed current economic indicators that show mergers and acquisitions, foreign direct investment, and trade are all increasing between India and its Asian neighbors. Their share of India’s total economic activity is growing. Ranodeb Roy, Managing Director of Morgan Stanley Asia’s Fixed Income division then discussed India’s aspirations for becoming the financial services hub of Asia. Mr. Roy identified three things necessary to success in financial services: skilled manpower, technology, and an easy regulatory framework. India is strong in the first two, much more so than almost anywhere in Asia, and so is relatively well-positioned for success. One challenge will be competition: Seoul and Kuala Lumpur, among others, are trying to fill the role that Hong Kong and Singapore have long held. Henrietta Holsman Fore, Chairman and Chief Executive Officer, Holsman International, shifted the discussion to the pressing issues that affect India’s rural population, and in turn, the political stability of the country as a whole. India has strong human capital. India has large numbers of engineers and there are opportunities capitalize on growing demand for clean energy as well as tackle agriculture and water efficiency issues. Roles for women are increasing, and trends point towards larger presence for women in government, on corporate boards, and in the fields of entrepreneurship and innovation.