The Associated Chambers of Commerce and Industry of India (ASSOCHAM) on Tuesday announced that it has appointed Sanjay Nayar, the founder and chairman of Sorin Investment Fund, and a veteran in the global financial markets, as its President. Sanjay Nayar will replace Ajay Singh, who has completed its tenure at the Chamber. 

Sanjay Nayar has four decades of experience in global financial and capital markets, including 25 years at Citi and nearly 14 years at KKR, before retiring last year. He established KKR India operations in 2009 after leaving Citigroup. “At KKR, Sanjay led investments of around $14 billion in private equity, real estate, infrastructure, and credit with private equity being the largest at approximately $10 billion valuation,” ASSOCHAM said in a statement. 

Sanjay Nayar has worked across senior leadership positions in Citigroup for 25 years in India, UK, and USA. He served as the CEO of Citigroup’s Indian and South Asian operations and was a member of Citigroup’s Global Management Committee and Asia Executive Operating Committee.

He also serves as a Non-Executive Director at the new-age e-commerce company NYKAA founded by him and his wife Falguni Nayar. Sanjay was recently appointed as a non-official member of the Board of Trade, Government of India, representing the private sector, and is a member of the National Startup Advisory Council. H

“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. During my Presidency, my ASSOCHAM colleagues and I will work closely with the government on the visionary goal of our Hon’ble Prime Minister Shri Narendra Modi for India to become a developed nation with a multi-fold increase in the country’s per capita income and continuation of bold economic growth. I look forward to supporting the efforts being made by the industry to achieve the country’s sustainability goals,” he aid

“India remains a bright spot in the global economy and we must leverage this position further. Given the recent success of Startup Mahakumbh led by ASSOCHAM, I look forward to catalyzing the startup culture backed by private and public savings,” he added.

Welcoming the new President, ASSOCHAM Secretary General Deepak Sood said, “Sanjay’s leadership would help the Chamber strengthen its four pillars of growth. In the coming year, ASSOCHAM will lean on Sanjay’s experience and network to further facilitate the growth of the MSME segment, especially the use of emerging technologies such as AI.”