J.P. Morgan's 10th annual India Investor Conference will be held in Mumbai from September 22-23, 2025. The event will connect global investors, c-suite executives, policymakers, and economic thought leaders to explore the pivotal themes influencing India’s dynamic landscape and beyond.
Since its inception, the conference has established itself as a leading industry event. This year, over 1,000 delegates from diverse sectors and organizations worldwide are expected to attend. Participants will engage in CEO tracks, one-on-one meetings, and plenary sessions featuring distinguished speakers who will provide valuable insights into geopolitical developments, economic trends, capital market opportunities, and the promise of innovation.
Key takeaways from the 2024
J.P. Morgan India Investor Summit
India’s growth story: Five key themes to watch for the next decade
With the second largest population and the fastest growing large economy, India’s next decade is set to transform the investment landscape and global supply chains. Investors gathered for the ninth annual India Investor Summit in Mumbai to explore the industries, innovations, and policies driving this rapid growth.
India’s EMS industry is booming as original equipment manufacturers (OEMs) set up operations in the country, spurred by government incentives, increased domestic demand, and a growing skilled workforce. Global electronics manufacturers are shifting their outsourced facilities to India, positioning the country as a key beneficiary of supply chain diversification.
“With today’s shifting geopolitical landscape, the next five years will define India’s critical role in global supply chains,” said Kaustubh Kulkarni, Senior Country Officer of India and Vice Chairman of Asia Pacific (at right).
“With today’s shifting geopolitical landscape, the next five years will define India’s critical role in global supply chains,” said Kaustubh Kulkarni, Senior Country Officer of India and Vice Chairman of Asia Pacific (below).
Today, the EMS industry is worth over $115 billion, with companies like Micron, Intel, and Nvidia looking to India for semiconductor design, development, and manufacturing.
Anand Ramamoorthy, Managing Director of Micron India, discussed Micron’s plans to scale operations in India. The company’s first India-made chips are expected next year from its new global hub in Gujarat, following the state’s semiconductor subsidy initiative.
Vishal Dhupar, Managing Director of South Asia at Nvidia India, outlined the firm’s vision for India to become the intelligence capital of the world, investing heavily in its talent pool of developers and engineers, now second only to the U.S. in scale.
The Indian fintech industry surged to $584 billion in 2022 and is projected to reach $1.5 trillion by 2025, according to government estimates. At the Summit's opening session, Ashwini Vaishnaw, Union Minister of Railways, Information and Broadcasting, Electronics, and Information Technology, highlighted India's efforts in democratizing technology. Heavy investments in the digital economy and integrating 530 million people into the banking system have laid a strong foundation for the fintech sector over the past decade.
Sanjiv Bajaj, Chairman and Managing Director of Bajaj Finserv, discussed the significant growth potential for consumer lending in India over the next 15 to 20 years, aligned with the country's GDP growth. Bajaj emphasized the use of AI for real-time, granular data analysis to identify trends and weaknesses. Bajaj Housing Finance, a subsidiary of Bajaj Finserv, was one of the top IPOs of the year, reflecting strong domestic investor demand in fintech and real estate, focusing primarily on high-end mortgages.
“Fintech is the most exciting sector within the technology industry in India, and there is no better place to discuss this. India is leading the way,” said Mark Fiteny, Head of New Economy Investment Banking, Asia Pacific, and Global Head of Consumer Internet Investment Banking at J.P. Morgan, during a panel on the future of Indian fintech.
Kunal Shah, founder of rewards-based credit card payment app CRED, Amrish Rau, CEO of merchant platform Pine Labs, and Harshil Mathur, CEO and co-founder of payments management platform Razorpay, discussed building world-class products for a domestic audience that can compete globally. They emphasized the crucial role of data analysis and sophisticated payment services in driving the next generation of fintech in India.
India, often called the pharmacy to the world, gained prominence during the COVID-19 pandemic by supplying vaccines and critical medicines globally. As the largest supplier of low-cost generics, vaccines, and affordable medicines, India is among the top producers of drugs by value and volume. It also boasts the second-largest number of FDA-approved manufacturing plants.
Sharvil Patel, Managing Director of Zydus Lifesciences, emphasized India's crucial role in the global vaccine industry and the importance of resilient supply chains in healthcare to ensure continuous patient access to medicine. The oncology sector, particularly generic cancer drugs, has seen significant growth, expanding the market by 50% and making treatments more accessible to a broader population.
India has rapidly increased domestic manufacturing and infrastructure development over the past decade, particularly in the railway sector. The country has shifted from importing to designing and building its own metro and bullet trains. Minister Ashwini Vaishnaw (at right) highlighted that India is now one of the few countries capable of designing and building high-tech trains, with 31,000 km of railways constructed in the last decade.
India has rapidly increased domestic manufacturing and infrastructure development over the past decade, particularly in the railway sector. The country has shifted from importing to designing and building its own metro and bullet trains. Minister Ashwini Vaishnaw (below) highlighted that India is now one of the few countries capable of designing and building high-tech trains, with 31,000 km of railways constructed in the last decade.
Jamie Dimon, Chairman and CEO of JPMorganChase, praised India's infrastructure, education system, and well-developed taxation system, noting that these factors drive growth and benefit citizens.
Defense manufacturing has also surged, with exports reaching a record $2.6 billion this year. Industry leaders like Sukaran Singh, CEO of Tata Advanced Systems Limited, and Neelesh Tungar, President of Defense for Bharat Forge, discussed India's growing role in the global defense supply chain, particularly for the U.S., which spends $800 billion to $1 trillion annually on defense.
The panel also highlighted India's neutral geopolitical stance and investment in intellectual property (IP) as key factors propelling the export industry.
India's middle class, the fastest-growing major segment of the population, currently represents about a third of the population and is expected to rise to 60% by 2047, according to People Research on India’s Consumer Economy. Panelists in the food service and fast-moving consumer goods (FMCG) sectors discussed the enormous opportunities this segment presents as disposable incomes rise.
Sameer Khetarpal, CEO and Managing Director of Jubilant Foodworks, noted that India’s $50 billion food services market is growing at 8-9% annually, with two-thirds of the industry still unorganized, presenting significant opportunities.
In the FMCG and beauty sectors, Prabha Narasimhan, Managing Director and CEO of Colgate-Palmolive (India), and Aseem Kaushik, Managing Director of L’Oreal India, discussed growth in both entry-level products like toothpaste and premium items like luxury fragrances, driven by consumer education and rising disposable incomes.
The panel highlighted that FMCG consumption in India averages $50 per person annually, compared to double that in Indonesia and more than triple in China, underscoring the vast growth potential.
Conference photos
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This conference is by invitation only and is not transferable. The conference is not open to the media.