According to Bank of America Corp.’s top executives, India could attract investments of close to $10 billion in renewable energy by 2023.
This will further fuel the country’s expansion in the renewable energy space.
Kaku Nakhate (the lender’s president and India country head) stated in an interview that deals and investments would continue to flow into areas such as electric vehicles and green hydrogen as investors seek to reflect the energy transition within their portfolios.
Nakhate stated that if you have a strong ESG story and are interested in energy, you could do large parts of work in India.
While rising interest rates and market volatility are affecting dealmaking around the world, India’s geopolitical stability allows it to attract greater inflows.
Nakhate stated that the Indian government’s targets to achieve net zero carbon were inspiring investors and companies who participated in the bank’s recent North America roadshow.
“People take us seriously. She said that India is seeing more sustainability funds wanting to invest in India because of this.
Nakhate predicts that there will be an increase in the number of deals made by consumer brands. This is supported by rising per-capita income and spending.
She stated that “if you want to be part of the India story, you will need a mix brand to enjoy the distribution story.”
Nakhate also stated that India will benefit from “friend-shoring” by companies that are rethinking supply chains that were disrupted by the Covid-19 pandemic or the Ukraine war.
She said that India, with its democratic traditions, strong domestic markets, is well-suited to attract capital.
