AMFI Chairman lauds MoU with Indonesia's investment managers' association
The MoU was signed here where a delegation of 12 top CEOs from Indonesia's mutual fund industry accompanied the Indonesian President on his state visit to India.
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Association of Mutual Funds in India (AMFI) Chairman Navneet Munot lauded a memorandum of understanding (MoU) signed between India and Indonesia on Saturday, stating that both nations should continue to collaborate going forward. Mutual fund industry body AMFI and the Asosiasi Manajer Investasi Indonesia (AMII), the Indonesian investment managers' association, inked the MoU on January 25 to strengthen bilateral financial and economic best practices.
In line with Prime Minister Modi's goal of making India a developed nation, Indonesia has also set a target to become developed by 2045, said Munot. "So, in line with the aspirations set by our Prime Minister (Modi), India should be a Viksit Bharat (Developed India) by 2047, and Indonesia has also set a target to be developed by 2045. Both countries need to collaborate and work together," Munot told news agency ANI.
"India's mutual fund industry has done very well over the past several years under the active guidance of our market regulator and with the support of everyone, we have grown tremendously," he added.
The partnership is set to strengthen the mutual fund sectors in both countries, with the agreement set to create a platform for India and Indonesia to exchange best practices, insights and strategies aimed at boosting their mutual fund industries. It will cover the understanding and requirement of a broad spectrum of areas, including the requirement for regulatory reforms, governance standards, essential investor protection steps, data analytics, research, product innovation, and risk management, where both countries will benefit from each other's expertise and experiences.
The MoU was signed during the Indonesian President's state visit to India, where he was accompanied by a delegation of 12 top CEOs from Indonesia's mutual fund industry.
As part of this event, AMFI hosted a Round Table for the visiting delegation of AMII, Indonesia, highlighting key aspects of the Indian economy's growth story, opportunities in the mutual fund sector, and the pivotal role of technology in driving the capital markets.
The round table also explored emerging opportunities at GIFT City and emphasized India's leadership in financial innovation and governance.
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