Citi CEO Jane Fraser meets PM Modi, reaffirms support for India’s growth priorities

Citigroup Chair and CEO Jane Fraser met Prime Minister Narendra Modi on Wednesday and discussed opportunities to deepen the global bank’s engagement with India’s growth story.

According to a statement from Citigroup, the discussions focused on ways the bank can further support India's economic priorities and facilitate greater global investment into the country. The two sides also explored opportunities for Indian corporates to expand into international markets and strengthen their global presence.

The meeting was held in Delhi ahead of Citi’s flagship India Conference, as 2027 will mark Citi’s 125th year in India.

"The Prime Minister shared his vision for accelerating growth and economic momentum to achieve the objective of Viksit Bharat 2047," Citi said in a statement.

The meeting also covered India's energy transition plans, including investments in renewable and alternative energy sources such as solar power and green hydrogen, the release noted. Citi said the discussions explored how financial institutions can help mobilise capital to support the country's long-term sustainability and energy security goals.

“The meeting reflects the confidence that global financial institutions have in the reform agenda championed by Prime Minister Modi, whose landmark initiatives have transformed India's banking landscape and accelerated financial inclusion,” the release noted.

Artificial intelligence emerged as another key area of focus, with discussions touching upon the role of AI in driving productivity, innovation and economic growth, as per the release. The leaders also exchanged views on the importance of regulatory frameworks that can encourage innovation while ensuring responsible deployment of emerging technologies.

Fraser was accompanied by K Balasubramanian, Citi's India CEO and Banking Head and Indian Subcontinent Sub-Cluster Head. During the meeting, the executives highlighted Citi's long-standing presence in India and reiterated the bank's commitment to supporting the country's development agenda.

"Together they communicated Citi's pride in supporting India for nearly 125 years, addressed Citi's recent growth in the country, and reiterated the firm's strong commitment to supporting the country and its clients," the company said.

Citi is currently hosting more than 1,500 clients and investors at its India Conference in Mumbai from June 3 to June 5. The event is aimed at showcasing investment opportunities across sectors of the Indian economy and strengthening engagement between global investors and Indian businesses.

The year 2027 will mark Citi's 125th anniversary in India, making it one of the country's longest-serving international banking institutions. The bank said it remains committed to helping channel global capital into India while supporting domestic companies in their international expansion plans.