81 billion dollars came from FDI in India
At the Kotak International India Insight Summit in New York, Nilesh Shah, Managing Director, Kotak AMC, presented an interesting and powerful picture of India. He said that India is a country which is full of many contradictions, but is still progressing rapidly. Shah said, India will drive the growth train of the world in the coming days. He said that on one hand the world talks about India opening its markets more, but the reality is that India is the only big economy where foreign investors hold the maximum stake in the biggest companies like banks, auto, telecom, FMCG and asset management.
81 billion dollars came from FDI in India
Unlike China, India allows foreign companies like Meta, Google, X and Amazon to operate here freely. This shows that India has confidence in its system. Investment figures also show the strength of India. Last year, India attracted FDI worth $81 billion, which is about 5% of the world. Shah also said that India has bought more than 500 billion dollars of gold in 25 years, which shows that the consumption here is huge and wealth is also being created rapidly.
India is also unique in the field of technology. We are still dependent on foreign countries for advanced jet engines, but on the other hand, Indian startup Agnikul Cosmos has created the world’s largest single-piece 3D printed rocket engine. ISRO has landed on the South Pole of the Moon in a low budget and has created a world record by launching 104 satellites at one go.
Highest FDA-approved factory in India
Even though India does not have any big foundation model of its own in the matter of AI, the partnership of Jio and Airtel has given access to AI to 80 crore people. This led to the creation of open source AI assistants like Maya-1 and Luna, which speak and sing like humans. It is the same story in healthcare. There is a shortage of hospitals in villages, but Hyderabad’s Genome Valley is the area with the most FDA-approved factories in the world. India supplies 40% generic medicines to America.
Shah said that India cannot be understood only by statistics. The beauty of India lies in its contradictions. New beginnings are hidden in the hustle and bustle here. He said, only when you embrace this unique blend of this country, you truly become a part of India.