It was organized on the sidelines of the inaugural Indo-Pacific Spotless Economy Investor Forum (IPEF) in Singapore.
Barthwal emphasized that India’s growth rate is almost twice that of other emerging economies.
“He pointed out that this powerful growth is also leading to a ‘reverse’ trend where Indian start-ups that once moved abroad to access capital and tax benefits are now returning home,” the ministry said in a statement on Friday.
India’s economy grew 8.2% in the fiscal year ended March 2024, cementing the country’s position as the world’s fastest-growing immense economy.
There are over one million government-recognized startups in the country. The meeting gathered over 60 participants, including global investors from the US, Singapore, Japan, Australia, Korea and other countries, as well as the Indian private sector and government officials.
The event brought together investors and financial institutions from IPEF member countries such as Temasek, Global Infrastructure Partners, GuarantCo, Private Infrastructure Development Group (PIDG), Goldman Sachs, I Squared Capital, Mizuho Bank Ltd, Advantage Partners, Nomura, DBS Bank and Citi Bank .
The Indo-Pacific Economic Framework for Prosperity (IPEF) was launched in May 2022 and currently includes 14 partners – Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, Republic of Korea, Malaysia, Recent Zealand, Philippines, Singapore, Thailand , USA and Vietnam.