India's banking and corporate sectors are on the cusp of transformation with the advent of technological advancements and the large-scale adoption of artificial intelligence. According to Vis Raghavan, Head of Banking, Citi, the ambitions of corporate India are intact going into 2026. The India Inc expert claims to have seen many Indian companies looking at M&A deals overseas.
In an exclusive interview with NDTV Profit at the World Economic Forum (WEF) Annual Meeting 2026 in Davos, Switzerland this week, Raghavan said that he is a medium-to-long-term 'India bull'. The leading global banking expert believes that India is a captive-consumption economy and the domestic 'Make-In-India' theme is very dominant for India Inc's growth plans.
Also Read: Amit Kalyani At Davos: Bharat Forge To Pivot Towards Domestic Growth Amid Global Trade Uncertainties
Sectors in focus for India's long-term growth
According to Raghavan, India's middle-class is increasingly getting more consumption power and the demographics are in India's favor for long-term growth. The expert highlighted that the services sector or software-as-a-service (SaaS) will feel the effects of AI first. '' If you're good at SaaS, you'll be good at AI too. So, I'm sure India will navigate that space,'' said Raghavan.
Coming to the global tariff war and the ongoing geopolitical turmoil, Raghavan said that he is looking at more clarity over the India-US trade deal, which will likely be a positive trigger and provide an opportunity for multinationals pr PE firms to invest in India. However, he added that valuations in Indian markets have got 'carried away'.
Also Read: Indian CEOs More Optimistic On Growth Than Global Peers, Second After US As Potential Destination
Commerce and Industry Minister Piyush Goyal on Monday said that India and the United States are in the advanced stages of negotiations for a bilateral trade agreement. According to news agency PTI, Goyal said India has already finalised free trade agreements with three members of the Five Eyes (FVEY) intelligence alliance - Australia, United Kingdom, and New Zealand. The other two members of the grouping are the United States and Canada.
The minister said India is also preparing to re-engage Canada on a bilateral trade pact. "We are soon going to launch discussions for the terms of reference with Canada as well," Goyal said, adding that the move reflects India's growing strategic importance in global geopolitics. Commerce Secretary Rajesh Agrawal had earlier said that India is "very close" to finalising an initial framework deal with the US aimed at reducing reciprocal tariffs.
Watch LIVE TV, Get Stock Market Updates, Top Business, IPO and Latest News on NDTV Profit.