Microsoft Co-Founder and billionaire Bill Gates visited India on February 28, 2023. He made his first meeting at the RBI office in Mumbai with India’s Central Bank’s Governor, Shaktikanta Das.
The two personalities held discussions on a wide-range of topics. Gates’ motive behind this visit is to explore business opportunities in health, education and other sectors of India. He desires to conduct business in the growing markets of India.
Recently Gates in his blog, “Gates Notes” wrote that India gives hope for the future and proved that the country could solve the big problems at once. Even when the world is facing multiple crises. Further, he went on to show a positive attitude towards the country in his blog saying:
“India as a whole gives me hope for the future. It’s about to become the world’s most populous country, which means you can’t solve most problems there without solving them at scale. And yet, India has proven it can tackle big challenges. The country eradicated polio, lowered HIV transmission, reduced poverty, cut infant mortality, and increased access to sanitation and financial services”.
Talking about his business ventures in India, Gates mentioned about his ‘The Gates Foundation’ in India. The foundation’s branch office in India operates with the permission of the Reserve Bank of India (RBI) under the Foreign Exchange Management Act (FEMA) of 2017. This branch office does not disburse grants on behalf of the foundation, nor does it receive grants from the foundation’s Seattle office. The approval it has under FEMA allows it to bring foreign exchange into India to meet its direct operating expenses.
Gates talked about his agricultural collaboration in India. “The Gates Foundation joined hands with India’s public sector and CGIAR institutions to support the work of researchers at IARI. They found a new solution: chickpea varieties that have more than 10 per cent higher yields and are more drought-resistant. One variety is already available to farmers, and others are currently developing at the institute. As a result, India is better prepared to keep feeding its people and supporting its farmers even in a warming world. It’s no exaggeration to say that India’s agricultural future is growing right now in a field in Pusa.”