Franklin Templeton’s Jenny Johnson Hails India’s GIFT City at GBS 2024, says ‘Initiative Designed to Bring Money Into India’

NEW DELHI : Jenny Johnson, President and Chief Executive Officer of Franklin Templeton, praised India’s GIFT City initiative, calling it a significant move designed by the current government to attract foreign investments. Speaking at the ET NOW Global Business Summit 2024 here, Johnson emphasized the effectiveness of such measures in bringing capital into the country.

“GIFT City is a great initiative, and these kinds of measures are really effective,” remarked Johnson during her conversation with Ajaya Sharma, Senior Editor at ET Now. The Gujarat International Finance Tec-City (GIFT City) is situated in the Gandhinagar district of Gujarat and stands as India’s first operational greenfield smart city and international financial services center. Franklin Templeton, a global investment firm, announced its plans to open an office within GIFT City, aligning with its strategy to expand its presence in key financial hubs.

Johnson acknowledged the positive shift in perception among Indians regarding their country, stating, “Indians are now the ones who are most positive about India, especially those who were sceptical earlier.” She highlighted the transformation of the investment landscape, citing the growing middle class as a significant opportunity for asset management companies.

“As an asset management company, the greatest opportunity for us is the growing middle class. As the wealth of the people grows, they all become investors, which is a big opportunity for us,” Johnson explained. Recognizing the potential in a prospering middle class, Franklin Templeton sees this demographic as a pivotal force driving investment opportunities in the country.