DiSanto, who is also chief administrative officer, attorney general and secretary of the global provider of wireless communications infrastructure, met Finance Minister Nirmala Sitharaman here on Monday.
Sitharaman arrived in the United States on a week-long trip to attend the annual meeting between the World Bank and the IMF in Washington, as well as G20 finance ministers and central bank governors (FMCBG). During the official visit to the United States, Sitharaman is expected to meet with US Treasury Secretary Janet Yellen.
After arriving in New York, Sitharaman traveled to Boston, where she will meet investors during a roundtable hosted by the FICCI and the US-India Strategic Partnership Forum (USISPF) and leaders in global corporations and also caters to students at Harvard University.
“I can see that the recent steps taken by the Indian government have sent a very strong message to the world of Western investors, indicating a new receptivity and a new system that I believe encourages the opportunity” and has thrown India in a “very favorable light and welcoming light when it comes to getting investment, aboard companies,” DiSanto said.
When India attracted $ 81.72 billion in FDI inflows in the fiscal year 2020-21, DiSanto said: “I think the policy has been quite successful and we welcome the kind of reforms that they are considering making it even better. encourage investment. ”
Following its meeting with Sitharaman, DiSanto said the ATC subsidiary in India currently has around 76,000 towers right now “across our mobile network” and “we think we’re going to go to 4,000 more.
“So we want to make a step-by-step investment in the ordinary course, even in the pandemic that brings us to 80,000 (towers),” he said.
ATC India is one of the passive telecommunications providers in India and is an indirectly owned subsidiary of American Tower Corporation.
The Ministry of Finance said in a tweet that in its meeting with DiSanto, Sitharaman highlighted reforms, including the National Monetization Pipeline (NMP) for private sector investment “towards new #infrastructure building in brownfield infrastructure assets. ATC aims to expand operations in the telecommunications sector.
“The possibilities of managing foreign partnerships and attracting #ForeignDirectInvestment #FDI over the next five years under the #NMP through investments in strategic sectors, including telecommunications, were part of the discussion,” the ministry said.
It said that on the first day of its official visit to the United States, Sitharaman met with leaders of global companies to discuss investment opportunities in India and other related issues.
On inclusive growth in new markets, DiSanto said, “it’s a challenge in new markets because you want the kind of growth that they have historically lacked. And doing so in a sustainable way involves some extra steps and often extra costs. ”
He said that there should be cooperation between companies that come into the area and know that when they make investments, it is good not only to increase the economy, but to do so in a more sustainable way.
He said the Indian government supports this and the CSR programs it has are directed in that direction. “So I think in a couple of years you will see the progress from that approach.”
PerkinElmer President and CEO Prahlad Singh said after his meeting with Sitharaman that the finance minister highlighted the country’s intention to be more inclusive in development and growth.
Singh added that amid the COVID-19 pandemic, products developed at the company’s facilities in Goa are being used and exported abroad for use in COVID-19 testing.
“So it is really a very good example of how we can use and exploit the inclusive growth that the Minister of Finance pointed out and what the country has done to use capacities and skills from India for our development as a company but also from the country’s perspective. ”
The Ministry of Finance said in a tweet that Sitharaman in his meeting with Singh “mentioned government incentives and initiatives to promote innovation in life sciences and R&D in the pharmaceutical sector” and acknowledged PerkinElmer’s investment in India’s healthcare sector.
“Singh believed that India’s healthcare industry is ripe for investment. In a wide-ranging discussion with FM Smt. @Nsitharaman, Singh stated that some of the best science graduates and skill sets that @PerkinElmer as a company has a leverage come from India”, said the ministry in a tweet.