The State Bank of India is a government-owned banking institution which offers public financial services to the Indian population as well as foreign investors. The bank has spearheaded several projects which are aimed at improving the living standards of Indians. A key figure in the bank’s executive team is Anil Chaturvedi who has been working as the managing director of the corporation. The banker has overseen several development projects over the years targeted towards increasing the national GDP.
About Europe-India Partnership
In a Munich seminar held earlier in 2016, Anil Chaturvedi outlined the plans of the government to foster a stable economic relationship between India and the European government. In his speech, the bank’s managing director stated that people from Europe and the US lacked information about what is going on in India and the type of opportunities that are available. He claimed that the current middle-class population in India ranges from 400 to 500 million people who are able to purchase goods brought in the market. The estimated growth of the country is 12% per year; this means that if European industries decide to invest in the country, they will be able to make profits.
Anil Chaturvedi further elaborated that India has the political and social capability which favor businesses. The foreign currency reserves are worth $360 million, indicating that the country’s economy is not at risk of collapse. Furthermore, the country has stable Rupi currency which has appreciated against the Euro. Anil Chaturvedi expounded on the sectors that Europe can invest in including green energy (300-gigabyte renewal energy projects), food grains, dairy, and agriculture. The country currently has the improper infrastructure, refrigerated structures, storage materials, and processing which could be explored by the new companies. The partnership between the two countries will, therefore, improve their relationship as well as promote economic growth.
About Anil Chaturvedi
Anil Chaturvedi is the current managing director of the State Bank of India and has always focused on the Corporate Advisory arm of the bank. Since 2013, Anil Chaturvedi has facilitated the partnerships between Indian corporate and Europe including acquisitions, merges, debt raising and capital investments.