The company has made up its mind to invest $1 billion every year in the dream of ‘New India’.
Prime Minister Narendra Modi’s government is promoting the use of technology in the country. For this, the government has dreamed of ‘New India’ and is also running programs like ‘Digital India’ and ‘India Stack’. The government’s emphasis is also on financial inclusion so that every common man has access to finance and money reaches the hands of the people. Now a company will invest $100 million every year in this dream of PM Modi.
Growth-equity investor company General Atlantic will invest one billion dollars every year in India for the next few years. The company’s focus is on the Modi government’s policy of increasing financial inclusion and technology use and investing in its associated infrastructure.
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Country needs affordable infrastructure
Shantanu Rastogi, Managing Director and India Head of General Atlantic, says that we are constantly monitoring the major policy decisions of the government, which is emphasizing on strengthening the digital infrastructure for services and products in the country. Affordable infrastructure as well as affordable supply and affordable data is also necessary for financial inclusion. This is the great need of the times to come.
In recent years, General Atlantic has increased its investment in India and South Asian countries. The company is making annual investments ranging from $500 million to $1200 million every year. The company has invested $460 million in India in the last 20 years. The company manages assets worth $71 billion worldwide.
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Money is invested in a company like PhonePe
General Atlantic has also invested in digital payment company like PhonePe in India. PhonePe claims that it has more than 450 million users across the country. PhonePe is a company owned by Walmart. While in the healthcare sector, General Atlantic has invested in ASG Eye Hospital and KIMS Hospitals.
Rastogi says that now India is becoming a manufacturing hub. Especially in making medical devices and making electronics items. In the coming days, the company can also invest in this sector.