World Economic Forum: India is becoming the first choice for investment; Impact of changes like bankruptcy law is visible

World Economic Forum: Matthew Black, head of the Center for Financial and Monetary Systems at WEF, said India has been one of the best-performing markets in the world and investors have made money here.

Mar 25, 2024 - 10:18
World Economic Forum: India is becoming the first choice for investment; Impact of changes like bankruptcy law is visible

India has been described as a desirable investment destination by a senior World Economic Forum (WEF) official. India is a very promising investment destination for the financial technology sector, according to the official, because of changes in policy including the taxation code and bankruptcy law as well as the enabling environment brought about by digital public infrastructure. One of the world's best-performing markets, India has seen profits for investors, according to Matthew Black, head of WEF's Centre for Financial and Monetary Systems. Businesses that employ technology to deliver financial services are referred to as fintechs, or the financial technology industry.

However, Black also said that since markets do not move in perfectly straight lines and are subject to fluctuations, there is a need to educate investors. So the idea of being an informed investor, a diversified investor, and having access to educational resources to do that is fundamental artificial intelligence (AI), he added.

According to Sebastian Bacup, a member of the WEF platform Centre for the Fourth Industrial Revolution (C4IR) executive committee, India's passion for space is drawing talent from all over the world, encouraging them to launch businesses and advance the industry. It was once. Last week, C4IR introduced a space technology programme in India. With the growing private sector involvement in India's space sector, its goal is to foster international cooperation amongst interested nations. According to him, small and aspirational nations looking to make a splash in the space realm look up to India as a role model and a beacon. These nations also seek India's assistance. In this regard, WEF hopes to serve as a mediator between the two sides.

Black said that a survey was conducted among CEOs of fintech companies on behalf of WEF and Cambridge Center for Alternative Finance. It revealed that 70 per cent of companies believe that AI is a great power and can be used for personalization and customization of products and services. He said for regional regulators, AI can be helpful in terms of risk management and they need to adapt to the rapid changes in technology. He also said that regulatory agencies in the Asia Pacific region are generally considered quite efficient.

Muskan Kumawat Journalist & Writer