Sitharaman arrived in the US on October 11 to attend the annual meet of the World Bank and IMF in Washington as well as G20 Finance Ministers and Central Bank Governors (FMCBG) meeting.
During the official visit to the US, she is expected to meet US Treasury Secretary Janet Yellen.
After arriving in New York, Sitharaman travelled to Boston where she will meet investors during a roundtable hosted by FICCI and US-India Strategic Partnership Forum (USISPF) and executives of global corporations and also address students at Harvard University.
Prominent among those who met the Minister in Boston were John Connaughton, co-managing partner, and Stephen Pagliuca, co-chairman, Bain Capital; Edmund DiSanto, executive vice-president, chief administration officer and general counsel of American Tower Corporation (ATC); Prahlad Singh, president and CEO of Perkin Elmer and Dr John Ardill and senior vice-president of ExxonMobil.
Expressing their confidence in the Indian economy and the ongoing reforms, the corporate leaders said they were upbeat about investing in the country. Sitharaman also attended a dinner hosted by Lawrence Summers, former Treasury Secretary, along with other eminent experts in the fields of economics, public policy, finance, and development.
“The Finance Minister elucidated the intent of the country to be more inclusive in development and growth,” Singh said after his meeting with the FM in Boston. In a wide-ranging discussion with the Minister, Singh said some of the best science graduates and skill sets that Perkin Elmer as a company leverage, come out of India.
He also said India’s healthcare industry is ripe for investment. Singh added that amid the COVID-19 pandemic, products that have been developed in the company’s facilities in Goa are being used and exported outside the country for use for COVID-19 testing.
“So that’s really a very good example of how we can use and leverage the inclusive growth that the Finance Minister pointed out and what the country has been doing for using the capabilities and skill sets from India for our development as a company but also from the country’s perspective.”
During the meeting, Sitharaman mentioned government incentives and initiatives towards promoting innovation in life sciences and research and development in the pharma sector.
In her meeting with DiSanto, the Minister highlighted reforms including National Monetisation Pipeline (NMP) for private sector investment towards new infrastructure creation in brownfield infrastructure assets.