New Delhi: Invest India Managing Director and CEO Deepak Bagla has resigned after the Commerce Ministry’s audit questioned the work done by the investment promotion agency. Deepak Bagla was a key figure in presenting India’s information to investors at the World Economic Forum in Davos earlier this year. Invest India MD and CEO Deepak Bagla resigned.
He assembled a team of young professionals who put together an impressive India Lounge on the Davos Promenade. It became a match for Indian CEOs visiting the Swiss city. Deepak Bagla often conflated India’s rise to foreign direct investment with the work done by Invest India. The body was set up in 2009 under Section 25 of the Companies Act, 1956 to facilitate investment.
An alumnus of St. Stephen’s College in Delhi and Georgetown University in Washington DC, Deepak Bagla began his career at the World Bank, according to a biography posted online. In 1989 he joined the Citibank Global Corporate and Investment Banking team with roles and responsibilities in Europe, Africa, Asia and Australia.
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