New Delhi, June 27 -- Canadian investment holding company Fairfax has appointed Amitabh Kant, who recently stepped down as India's G20 sherpa, as a senior advisor to support its long-term investment strategy in India.
A week ago, Kant had announced his resignation in a social media post, reflecting on his 45-year career in public service. "After 45 years of dedicated service to the government, I have decided to embrace new opportunities and begin a new chapter. I now look forward to India's transformational journey towards Viksit Bharat by supporting free enterprise, startups, think tanks, and academic institutions," Kant said.
Fairfax said that Kant's extensive experience will enhance its investment approach in India. "His extensive expertise in economic development, innovation, and sustainable growth is expected to significantly benefit Fairfax's long-term investment approach in India. the industry insights and leadership experience he brings to Fairfax will help it to continue identifying and executing on opportunities within the region," it said in a statement.
The company added that the government's Viksit Bharat initiative-a vision to become a developed economy by 2047-offers significant opportunities for firms like Fairfax.
Kant, a 1980-batch Indian Administrative Service officer from the Kerala cadre, has served in various government ministries and think tanks.
He began his career in the tourism department, where he engineered various campaigns such as Incredible India and God's Own Country (for Kerala). He also structured the Calicut Airport as a private sector project, and developed several projects such as the BSES Power Project and Mattanchery Bridge under the public-private partnership model. Further, he helped modernize the state's fisheries sector through technological advancements.
As the industries secretary in the central government, Kant led initiatives such as Ease of Doing Business ranking for states, as well as initiatives such as Make in India and Start Up India.
From 2016 to 2022, he served as CEO of government think tank NITI Aayog, and later became India's G20 sherpa before stepping down.
"In this context, leveraging Mr Kant's extensive experience in spearheading large-scale development initiatives spanning digital infrastructure, urban renewal, industrial reforms, and tourism is expected to bring significant value to Fairfax and its affiliates," the firm said.
Fairfax India, owned by India-born Canadian billionaire Prem Watsa, is a subsidiary of Toronto-based Fairfax Financial Holdings. It focuses on long-term capital appreciation by investing in public and private equity securities and debt instruments.
VCCircle had reported in December last year that Fairfax India is set to acquire an additional 10% stake in Bangalore International Airport Ltd (BIAL) for $255 million (about Rs 2,160 crore). It currently holds 64% stake in the company.
According to media reports, Fairfax is also evaluating investments in two new airport projects in Tamil Nadu.
Published by HT Digital Content Services with permission from VC Circle.