Suma Chakrabarti has been charged with one of Europe’s leading development banks for five years and has spent considerable energy in striking a strong connect with India. Sir Suma tells ‘India Global Business’ how Indian companies can take the lead in re-defining the world’s development agenda.
What is your bank’s engagement with India like?
The European Bank for Reconstruction and Development (EBRD) already works with a number of Indian companies in our countries of operation and we want to engage even more with the Indian private sector.
We have shown the way with Indian companies in our region. We have brought in Tata Beverages, Tata Power, the Jindal Group, SREI, among others, and they have all worked with us on projects in Russia, Georgia and other places.
There is a real opportunity for Indian businesses. When we look at the BRICS [Brazil, Russia, India, China and South Africa], very few of their companies are global leaders. One of the Interesting things about India is that it does have some global names.
There is a real opportunity for India with this shift in development practice towards more of a private sector approach to be first and through the door.