New Delhi, June 26 Senior Indian bureaucrat Amitabh Kant has joined Fairfax Financial Holdings as Senior Advisor, and will help boost its Indian investment, the Canada-based company said on Thursday.
The announcement comes as Amitabh Kant, last week, informed that he was stepping down as India's G20 Sherpa.
His resignation came after 45 years of "dedicated government service" in various roles as G20 Sherpa, CEO of NITI Aayog, Secretary of the Department for Industrial Policy and Promotion, among others.
“We are truly excited to welcome Amitabh to our Fairfax family,” said Prem Watsa, Chairman and Chief Executive Officer of Fairfax.
“As his experience shows, Amitabh has outstanding experience in many of the key areas that India intends to grow significantly in the coming years, but what we really value is his high integrity and alignment with the values of Fairfax," he added.
Fairfax is a holding company which, through its subsidiaries, is primarily engaged in property and casualty insurance and reinsurance and the associated investment management.
In addition to his contribution to public service, Amitabh Kant also has a proven track record of driving transformative initiatives across India, said the company, looking for his potential in its investments in India.
"Kant’s extensive expertise in economic development, innovation, and sustainable growth is expected to significantly benefit Fairfax’s long-term investment approach in India, and the industry insights and leadership experience he brings to Fairfax will help it to continue identifying and executing on opportunities within the region," the company said.
Fairfax added that it "expects many opportunities for it and its affiliates, including Fairfax India Holdings Corporation", in India’s journey towards Viksit Bharat.
Fairfax and Fairfax India are already participants as investors in sectors critical to this transformation, including infrastructure, urbanisation, financial services, logistics, and mobility, and the growth.
This includes the success of enterprises like Go Digit General Insurance and Bengaluru's Kempegowda International Airport, illustrating the company's potential to "build a resilient, sustainable and modern market economy in India".
The company noted it will leverage "Kant’s extensive experience in spearheading large-scale development initiatives spanning digital infrastructure, urban renewal, industrial reforms, and tourism".
Amitabh Kant was a key figure during India’s G20 presidency. He was also the CEO of NITI Aayog, and led the Aspirational Districts Programme, which uplifted some of India’s most disadvantaged regions.
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