Fairfax Financial Holdings Limited on Friday said it has appointed former NITI Aayog CEO Amitabh Kant as a senior advisor.
In a statement, Fairfax said former G20 Sherpa Kant's extensive expertise in economic development, innovation and sustainable growth is expected to significantly benefit the company's long-term investment approach in India.
As India is pursuing an ambitious roadmap towards becoming a developed economy by 2047, Fairfax expects many opportunities for it and its affiliates, including Fairfax India Holdings Corporation (Fairfax India) to participate and benefit from the 'Viksit Bharat' initiative, which aims to help India transition from a $4 trillion economy to a $30-plus trillion powerhouse, according to the statement.
Fairfax Chairman and Chief Executive Officer Prem Watsa said, "We are truly excited to welcome Amitabh to our Fairfax family." Kant was a key figure during India's G20 presidency, culminating in the historic New Delhi Leaders' Declaration. As CEO of NITI Aayog, he was a driving force behind the Aspirational Districts Programme, which uplifted some of India's most disadvantaged regions, the company said.
His tenure as Secretary of the Department of Promotion of Industry and Internal Trade (DPIIT) saw pivotal reforms, including the Make in India and Startup India campaigns, significantly improving ease of doing business rankings by 79 places, the company said, adding that his work in promoting tourism with the 'Incredible India' campaign showcased his keen understanding of the power of cultural and economic integration.
Fairfax is a holding company, which through its subsidiaries, is primarily engaged in property and casualty insurance and reinsurance as well as associated investment management.