India Global Forum’s flagship IGF London hit a major new milestone this week at the first-ever Global Investors Dialogue at the London Stock Exchange (LSE).
IGF Founder and Chairman Manoj Ladwa was honoured at the Market Close ceremony at the prestigious financial hub at an event which brought together top Indian and global investors and corporate leaders to delve into the future of India's investment climate following the recent re-election of Prime Minister Narendra Modi for a third term. The forum underscored the pivotal role the London Stock Exchange can play in channelling large investments and facilitating capital flows into the world's fastest-growing major economy.
Ladwa said: “London's unparalleled financial expertise and robust capital markets can significantly contribute to India's ambitious growth trajectory, creating pathways for substantial investments in infrastructure, innovation, and sustainable development.
“There is no bigger opportunity, no better opportunity than to be part of the world’s largest democracy, the world’s most populous nation’s journey to take her place amongst the most developed nations of the world. I extend my heartfelt thanks to the London Stock Exchange for their support and partnership.”
IGF has been a pivotal bridge for finance and business between the UK and India, fostering robust economic ties and collaborative ventures aimed at driving sustainable and inclusive growth in both nations. Part of the week-long IGF London 2024, the session witnessed insightful dialogues on how Indian businesses can leverage London's extensive pool of international equity and debt capital for critical initiatives, including infrastructure development, capacity expansion, and job creation.
Darko Hajdukovic, Head of New and Private Markets, Deputy Head of Digital and Securities Markets, LSE plc, stated: “We extend a warm welcome to India Global Forum and are delighted to host their inaugural Global Investors Forum at the London Stock Exchange. London stands ready to play a key role in facilitating investment and sustainable capital flows into India’s economy by supporting Indian businesses as they access equity and debt capital markets. Over the past 30 years, approximately 100 Indian companies and funds have financed their ambitious plans through our markets, and we look forward to continuing to support India in its growth.”
The inaugural investors dialogue on day two of IGF London came on the heels of the fifth annual Climate and Business (ClimB) session, hosted in association with Bloomberg to spotlight climate financing and energy transition under the theme of "Powering Progress".
Amit Kalyani, Vice Chair and Joint Managing Director of Bharat Forge, called for a rethink of India's electric vehicle (EV) strategy, criticising the adoption of China's battery-based model.
He said: “I believe that we are all following the wrong model. Everybody is copying what China did and is using the Chinese template for electric vehicles, which is a battery based electric model.
“Most countries like India where we are building infrastructure from scratch, I’m not talking electric vehicle infrastructure but highways, can incorporate inductive electric charging in those and dramatically reduce the amount of battery we use… This will dramatically reduce the need for the harmful chemicals in the mining of those chemicals, which is largely in Africa, and all controlled by Chinese companies.”
On the increasing hype around green hydrogen, Chairman and Managing Director, Hero Future Energies, Rahul Munjal noted: “Is green hydrogen the silver bullet that we have all been looking for and does it have the promise that it's all hyped up to be? In certain sectors, yes. At least in smaller projects it's here and now, large scale not yet.”
*Info: India Global Forum; Catch up
