Leaders from the most powerful nations in the world will flock to New Delhi for the G20 Heads of State and Government Summit to be held on September 9-10. According to experts the B20 Summit and G20 Summit is expected to translate into trade and investment opportunities for Indian businesses that will also help with global expansion.
As India’s yearlong G20 presidency nears its end, the IMF has recognised the nation as a ‘bright spot’ in the world economy. Data shows that India has outperformed many of its G20 counterparts on most economic indicators in terms of economic growth, inflation and stock market returns. The G20 summit is led by 20 financial leaders from the world’s strongest economies. The aim of G20 summit 2023 is to discuss trade, health, and climate-related issues around the globe.
The forthcoming ministers meeting of G20 Summit 2023, which is scheduled on September 9 and 10, is all set to be held in New Delhi at Bharat Mandapam International Exhibition-Convention Centre. Besides the G20 countries, Bangladesh, Egypt, Mauritius, Netherlands, Nigeria, Oman, Singapore, Spain and UAE are among the invited countries for the New Delhi G20 summit.
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Asked what the G20 means for India and the stock market, Sooraj Singh Gurjar, founder and MD of Get Together Finance (GTF), told Business Today, “When the minds behind the most successful economies come together, something great is bound to come. Hence, great investment and trade opportunities are probable to rise in India with the help of the G20 summit.”
“In the past few years, India’s economy has seen massive growth. With the global economic events being held in India, people’s and businesses’ trust in the Indian capital market will grow,” Sooraj Singh Gurjar said. With India being the G20 host this year, market watchers believe that new FDI policies could be framed. This will directly impact the country’s economy, which will help in the growth of the Indian stock market.
Sooraj Singh Gurjar, founder and MD of Get Together Finance told BT that the G20 summit in India will promote more open and inclusive trading; businesses in India will get a new boost with this approach. A Plethora of new opportunities will arise with fewer trade restrictions, resulting in the development of the businesses and the country. When the businesses of the country grow, so do their stock prices.
Ravi Singhal, CEO, GCL Broking added that recently our foreign minister gave an interview on G20 in which he has cleared that G20 will focus on growth and participation of India can be increased in it. “I think infrastructure stocks such as Larsen & Toubro, export-oriented firms like Infosys and TCS, consumption players such as Tata Consumer and green energy firms like Tata Power may benefit from G20,” Singhal said.
The real estate sector is betting big on India’s G20 presidency for two reasons: one, it feels that visiting foreign investors and non-resident Indians’ (NRI) interest will be piqued; two, it expects the uptrend in economic activity to benefit. Nayan Raheja, Director of realty major Raheja Developers told BT Magazine, “As it highlights India’s potential, the summit will propel foreign and NRI investment.”
"The India Growth Story, which is the best among large economies, is getting wider attention and appreciation with the G20 presidency. India’s highly profitable sectors like banking, IT and pharmaceuticals are already well researched and have attracted significant investments. A segment that has attracted significant attention in recent times is the India Stack and its phenomenal success. India’s digital ecosystem is now accepted as a model worthy of emulation," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
"The explosive growth of Fintech companies is attracting a lot of attention. The incredible growth of non-IT services during the last couple of years also is attracting a lot of attention. There is a global consensus among investors regarding India’s potential as an investment destination. The three Ds underlying the India Growth Story- Demography, Democracy, Digitalisation and Domestic consumption- will get more visibility due to the G20 presidency," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position.