A last-minute technical snag kept the Goldman Sachs CEO from visiting India, in what would have been his first since taking over as the boss of the one of the world’s largest investment bank. But he took time out for a freewheeling interview over video conference to discuss a wide ranging topics about growth in India, trade wars, the fintech disruption, Breaking up Big Tech and the backlash against Wall Street bankers.
We’ve just seen an election and the return of Prime Minister Modi with an increased majority. Consequently, there is now an expectation for a stable government that will implement radical reforms of the sort that international investors would like to see. What are your thoughts on that?
Ans: Under a second term for Prime Minister Modi, we are hopeful that the reform program will continue and accelerate to provide a great deal of upside for the Indian economy and Indian people. If that continues, it will be exciting for our business platform in India as well. The results of the election give us increased confidence in the investments we have made, as well as the investments we will continue to make in our Indian businesses, in both Bengaluru and Mumbai, but also with our clients. Click here to read more
India continues to be the hotbed of private equity deal-making, even though capital markets turned pariah during the most part of calendar year 2018.
According to Bain & Co’s India Private Equity Report 2019, private equity investors deployed $26.3 billion across nearly 793 deals during the calendar year 2018, as compared to $26.8 billion invested across 700 deals in the corresponding period last year. This is the second highest time over a decade that fund managers have deployed so much capital in the country.
While the deal volume was higher than in 2017, the average deal size was flat. The result was a small decline in total investment value.
Sriwatsan Krishnan, partner at Bain & Co, says, “Overall, it has been a pretty strong year with investors committing capital towards the top four sectors. The only thing that bothers investors is that valuations are very high in consumer technology and consumer sectors. Even after considering the global macro factors, the outlook for India remains fairly strong.” Click here to read more
As trends go, matters that are categorized under the general umbrella of “corporate governance” are all set to take up greater mind space among CEOs and boards. These include issues pertaining to the wholesomeness of board and committee composition, disclosure standards, succession planning, executive compensation, stakeholder engagement, board effectiveness and evaluation, risk management and strategy for environmental, social and corporate governance (ESG). On account of the criticality of the drivers described below, we expect governance to become part of the staple agenda for boards, going forward. Click here to read more
With a short break for the holiday, Dhritiman Hui left Paris for a quick stopover in OKC to the corporate headquarters of VIKASA. He notes, that OKC has become a hub for emerging market investment. When he is not on a plane, Dhritiman splits his time between Mumbai and Singapore. This represents the nexus of the Indian private equity ecosystem. During his trip in OKC, he met with investors and community leaders but also local companies active in the space. OKC welcomed him with open arms. After leaving, Dhritiman joined the team in NYC. We look forward to welcoming him back.
Sports can provide several benefits for early childhood development. Recent cutbacks to budgets creates an impetus for non-governmental support. The Northwest Optimist Club of OKC is a dedicated supporter of our community. VIKASA Capital is proud to partner with them. The Club sponsors soccer leagues for kids that might not have other places to play. Michael Thompson serves as the President of Northwest Optimist Club and is also a partner at VIKASA. Michael’s commitment to his community provided the opportunity for the two companies to work together. VIKASA provided over 300 jerseys for the spring season. Thank you Northwest Optimist Club of OKC for your support of our children. Click here to read more