Top fund managers to attend mega investor summit next month

NEW DELHI: The government is organising a mega investors' summit next month to attract global capital and give a push to its ' Make in India' programme.

The ' India Investors Summit', being organised by World's largest asset manager BlackRock, is expected to be attended by leading fund houses like Abu Dhabi Investment Authority, Temasek Holdings and Harvard University Endowment.

Prime minister Narendra Modi will address the investors on February 3. He is also likely to host a dinner for the find managers.

According to sources, the government will discuss economic reforms agenda and seek suggestions for improving it to make India an attractive investment destination.

The agenda of the summit would include roundtable deliberations with government officials and senior ministers.

The representatives of major fund managers who may attend the summit include ACE Ltd, AIA Group, APG, GIC (Singapore), California State Teachers' Retirement System and PSP Investment Board.

As part of the 'Make in India' programme, the government wants the country to become a major hub for global manufacturing. It aims at increasing the share of the sector to 25 per cent from the current 15-16 per cent currently.

In order to attract foreign direct investment, government has liberalised policy in sectors such as defence, medical devices and insurance.

Besides, series of steps have been announced to improve ease of doing business in the country.

During the April-October period of the current fiscal, FDI inflows into the country increased by 26 per cent year-on-year to $17.34 billion.

In September last year, BlackRock CEO Laurence Flik had conveyed to the Prime Minister the desire to host this summit.

With total asset under management of over $4 trillion, US-based BlackRock has investments in over 100 countries and offices in 30 countries including India.