Mumbai (Maharashtra) [India], June 4 (ANI): India needs to stop selling itself short over short-term economic headwinds when its long-term potential and trend remain inexorably strong, according to Jane Fraser, Chair of the Board and Chief Executive Officer of Citi.

Speaking at CITI's 2026 India Conference in Mumbai, Fraser highlighted the shifting global perception of the country, noting that it continues to be the fastest-growing major economy in the world despite immediate global challenges.

'Stop selling yourself short of the short-term challenges which everybody is facing, as opposed to where the long-term potential and trend that the country inexorably is on,' Fraser said.

She emphasized the scale of operations and the strategic importance the country holds for global banking.

'I just think of the role India plays globally, both from the size of the economy, but also how many different companies that India is one of the most important markets for,' Fraser said. 'For us, India, it's the second largest geography in terms of the number of employees we have around the world. It's one of our largest markets.'

'Most of our clients globally have major centres here, not just technology, but also participating in the market. And some of our biggest clients are Indian,' she added.

She pointed to the rapid development of the national payments network, digital identity systems, infrastructure bills, and green energy projects as key indicators of this transformation.

'I remember when the payments network got developed and the digitization, the digital identity, and the speed with which that happened, I remember thinking, this is not the India I know,' Fraser said. 'And then we've seen it with more of the infrastructure bill getting done. We've seen it with much of the green revolution that's been occurring.'

The digital transition and physical infrastructure developments over recent years marked a significant departure from older economic models, according to the Citi chief.

'When you fly over Rajasthan, you wonder what all the mirrors are, and you realise it's all the solar panels in the desert. And then you start going, good, there is a solution to that awful cooking oil, to be having solar panels, look what that will do for revolutionizing safety and well-being for much of the rural populations,' she stated.

While acknowledging that regulatory and operational complexities remain to be addressed, Fraser pointed to local consumer innovations and rapid delivery networks as proof of massive latent potential. She expressed optimism that emerging technologies like artificial intelligence will further scale these networks.

'The other bit that's just struck me is you meet companies which are doing things you never imagined, like the delivery. Getting things delivered with this traffic in an hour or less is, I mean, can't get the groceries delivered to my mother in the south of England with a three-day notice,' she said.

Fraser also noted that future growth vectors will rely heavily on extending technological benefits to broader segments of the population.

'I'm hopeful that that's where we can also see AI unleashing new vectors into the rural populations, unleashing more entrepreneurship and getting more into the body of the country, so everyone can get lifted up while there are some pretty challenging changes to be made in some of the middle-sized companies from workforce from AI,' Fraser said.

'There should be an unleashing of enormous potential deeper in the country thanks to the payment network, thanks to the core fundamental piece there,' she added.

Following a recent meeting with Prime Minister Narendra Modi, Fraser mentioned that the administrative focus remains fixed on sustaining this momentum while tackling structural issues.

'I see an enormous difference in India now. I was very happy with the discussion with PM Modi about how adamant he was--clear that there are still complexities to be addressed--but adamant about continuing on that drive for the same passion and determination that he has, and to make sure that's part of his legacy is needed,' Fraser said. 'He made a difference in bringing more of the lines of the country as well.' (ANI)