Next wave of global investment to be driven by sunrise sectors, says SBI Chairman CS Setty

New Delhi [India], September 23 (ANI): The next wave of global investment is likely to be shaped by sunrise sectors, with domestic banking and financial institutions playing a central role in supporting this transition, said State Bank of India Chairman Challa Sreenivasulu Setty. Inaugurating the 13th SBI Banking & Economics Conclave on Wednesday, Setty stated that areas such as renewables, semiconductors, battery storage, and green hydrogen, along with robotics and biotechnology, are positioned to direct future worldwide capital flows. 'The next wave of global investment is likely to be shaped by areas such as sunrise sectors including renewables, semiconductors, battery storage, green hydrogen, besides robotics, biotechnology and other frontline frontier technologies,' Setty said. He noted that the country possesses the necessary skilled workforce, entrepreneurial drive, and technological base required to engage actively across these emerging fields. The primary challenge, he explained, centres on converting these domestic resources into commercial scale, manufacturing capacity, and proprietary assets that register an international presence. 'The larger opportunity lies in translating these strengths into businesses, technologies, manufacturing capabilities, and intellectual property that can command a global footprint,' he said. Highlighting the structural responsibilities of lenders during this structural shift, Setty explained that financial institutions must adjust their operational frameworks to match the demands of capital-intensive, high-technology segments. 'This is also where the financial sector has an important role to play. As the economy moves towards higher value manufacturing, new technologies, green transition, and globally competitive enterprises, the banking and financial system will need to evolve alongside it, providing the financial architecture that enables innovation, investment, and scale,' Setty stated. He noted that the focus of economic expansion extends beyond headline expansion figures to establishing sustainable industry positions across international markets. 'The theme of this conclave therefore captures an important transition. The question is not simply how fast we grow, but how effectively we convert growth into global competitiveness and leadership,' he said. The SBI Chairman highlighted that the two-day conclave gathers policymakers, regulators, industry figures, and economists to examine approaches for maintaining growth momentum and strengthening enterprise capabilities. 'For SBI, hosting this conclave is an extension of our role as a financial institution deeply connected with the aspirations of the Indian economy. As the country advances towards Viksit Bharat, the banking sector will have a significant role in financing infrastructure, enterprise, innovation, and the broader transformation of the productive economy,' he said. He mentioned that the deliberations at the forum aim to produce practical inputs to help shape the framework of the nation's ongoing economic development. The conclave is set to run from 23rd to 24th September 2026. (ANI)