Nirmala Sitharaman meets Stephen Pagliuca and John Connaughton of Bain Capital
Nirmala Sitharaman Meeting With Bain Capital Leadership: Top executives of Bain Capital, which has invested nearly $5 billion in Indian companies, said the US private investment firm is looking forward to making “more investments” in the country and the next decade will be beneficial for both India and the US. It will be very important for us to work together to build businesses on a global basis. Bain Capital Co-Chairman Stephen Pagliuca and Co-Managing Partner John Connaughton met Finance Minister Nirmala Sitharaman here on Monday.
Pagliuka described the meeting as “excellent” and said that the financial services district (Gift City) of Gujarat was also discussed in the meeting (Bain Capital on India). Sitharaman is currently in the US on a week-long visit to attend the annual meetings of the World Bank and the International Monetary Fund as well as the G20 Finance Ministers and Governors of Central Banks (FMCBG) in Washington. During her official visit to the US, Sitharaman is also expected to meet US Finance Minister Janet Yellen.
Sitharaman will also visit Harvard University
After reaching New York, Sitharaman left for Boston, where she would meet investors and top executives of global companies at a round table meeting organized by FICCI and the US-India Strategic Partnership Forum (USISPF). She will also address students at Harvard University (Nirmala Sitharaman in US). Connaughton said that ‘we have been working in India for over 12 years and seeing the reforms taking place in India encourages us to accelerate our investment activity there, especially in the broad areas where we are participating such as that the banking, outsourcing and pharmaceutical sectors.’
The company expects to invest more
He said, ‘We are looking forward to investing more (Nirmala Sitharaman US Visit). We have already invested $5 billion and we are seeing a spurt in that. On the other hand, Pagliuka said that markets can be made more business-friendly and ‘I think this is what is happening in India at the moment. This will create a very attractive environment for foreign direct investment in India.
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