Prime Minister Narendra Modi met Jane Fraser on Wednesday to discuss India's economic growth outlook, investment opportunities and areas where global financial institutions can support the country's development priorities. According to a statement from Citigroup, the discussions covered investment and capital flows into India, overseas expansion opportunities for Indian companies, alternative energy and the growing role of artificial intelligence in the economy.
The meeting comes as India continues to position itself as a key destination for global capital amid ongoing shifts in global supply chains and investment patterns.
Fraser and Modi also discussed opportunities related to the development of alternative energy infrastructure, including solar power and green hydrogen projects. Artificial intelligence was another area of focus, with discussions touching on regulation and the potential use of the technology to support economic growth.
Fraser was accompanied by K. Balasubramanian. During the meeting, Citi's leadership highlighted the bank's long-standing presence in India and reiterated its commitment to serving clients in the country.
The discussions took place as Citi hosts its India Conference in Mumbai, bringing together investors, corporates and market participants to discuss economic and investment trends.
Citi has operated in India for nearly 125 years and is one of the largest international banks active in the country. The bank said the meeting also explored ways it could continue supporting Indian companies as they expand into global markets and help facilitate cross-border investment opportunities.
In its latest note, Citi has brought forward its rate hike views following fuel price hikes that exceeded its base case assumptions. The cumulative Rs 7.5 per litre increase in petrol and diesel prices last month has prompted the brokerage to revise its FY27 average inflation forecast upward to 4.9% from 4.6%, with core inflation now seen at 4.6% versus 4.4% earlier.
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