New Delhi: Sanjay Nayar, a distinguished figure in global financial markets, has been appointed the president of the Associated Chambers of Commerce and Industry of India (ASSOCHAM).

Nayar's appointment comes on the heels of a career spanning four decades in global financial and capital markets, notably with a tenure of 25 years at Citi and almost 14 years at KKR, where he spearheaded investments totaling approximately $14 billion across various sectors including private equity, real estate, infrastructure, and credit. Before joining KKR, Nayar held senior leadership positions at Citigroup, serving as CEO of its Indian and South Asian operations.

Nayar is currently the founder and chairman of Sorin Investment Fund as well as a non-executive director at the e-commerce company NYKAA founded by him and his wife Falguni Nayar, according to a release.

"It is indeed a great honor for me to be elected as the President of ASSOCHAM, the apex institution with a history of over 100 years in its service to the Nation", Nayar said, expressing his gratitude and vision for ASSOCHAM. He emphasized his commitment to collaborate closely with the government to realize the Prime Minister's goal of propelling India towards becoming a developed nation with exponential growth in per capita income and sustained economic progress.

Recognizing India's pivotal role in the global economy, Nayar stressed the importance of leveraging this position further. He highlighted the recent success of the Startup Mahakumbh initiative led by ASSOCHAM and expressed his eagerness to bolster the startup ecosystem by harnessing private and public investments.

Nayar was recently appointed as a non-official member of the Board of Trade of the central government representing the private sector, and is a member of the National Startup Advisory Council. He is also a member of the Board of the US-India Strategic Partnership Forum (USISPF), the governing board of the Indian School of Business (ISB), a member of the advisory board of Habitat for Humanity, chairman of Grameen Impact Investments India (GIII); and founder and board member of Centre for Social and Economic Progress (CSEP).

Nayar outlined ASSOCHAM's continued proactive role in nation-building, particularly focusing on facilitating the growth of the micro, small, and medium enterprises (MSME) sector through enhanced financing and digitization efforts. He reaffirmed the Chamber's commitment to collaborating with the government in formulating policies for inclusive growth and social responsibility.

Deepak Sood, secretary general of ASSOCHAM, extending a warm welcome to Nayar, emphasized leveraging his experience and network to drive MSME growth, especially through the adoption of emerging technologies such as Artificial Intelligence (AI). He reiterated ASSOCHAM's dedication to realizing India's aspiration of achieving developed nation status within the next two decades, focusing on sustainability, entrepreneurship, empowerment, and digitization as key pillars of growth.

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