China’s loss may be India’s gain. Foreign bank advice to investors

money is flowing IndiaThe Asian economy, the third-largest, will help transform its supply chain and boost manufacturing as the nation recovers from the shock of the pandemic, said Aymar de Liedekerke Beaufort, regional head of the French Bank for India.

“I think India is considered as a strategic country, it is geographically well positioned and it is diversified from China,” he said in an interview on Bloomberg TV on Thursday. “So when you have a lot of capacity in China, when you have another place to put this excess capacity, India is working.”

A regulatory crackdown in China’s fintech sector is pouring billions of dollars into countries, including India, in what is set for a record year of equity offerings. This comes at a time when India’s Prime Minister Narendra Modi has announced plans to invest 100 trillion rupees ($1.3 trillion) in infrastructure and aims to do so by competing for investments to move out of China. target has been set.

Beaufort said BNP Paribas, India’s second-oldest foreign bank, received 100 million euros as equity from its origins last year, expanding its investment banking team, working in digital banking and hiring more women employees. want to add.

He added that the firm is also looking to expand its sustainable funding portfolio and will endeavor to fund companies with good quality projects in solar and wind. In India, BNP Paribas helped raise $2.3 billion in green and sustainable debt and arranged over $2.9 billion in ESG bond issuance in 2021.

This story has been published without modification in text from a wire agency feed. Only the title has been changed.