Invest India’s MD & CEO Deepak Bagla steps down
By MYBRANDBOOK
Deepak Bagla, Managing Director and CEO of Invest India, has stepped down after a Ministry of Commerce audit questioned the work accomplished by the investment promotion body. The audit had been going on for a year and Bagla came in for intense questioning. The Commerce Ministry is also said to have reprimanded Bagla, stating that the audit had found no substantial work had happened on ground.
Bagla came under observation after returning from the World Economic Forum meeting in Davos earlier this year, and a Ministry of Commerce audit recently questioned him about the operations of the investment promotion group.
It has been learned that the audit had been going on for a year and Bagla came in for intense questioning. The people cited above also said the Commerce Ministry had reprimanded Bagla, stating that the audit had found no substantial work had happened on ground.
Bagla has spent more than three decades working for the World Bank and Citibank and is a member of a number of important government committees, including Fintech and Innovation.
He is the leader of the 105-nation World Association of Investment Promotion Agencies, which has its headquarters in Geneva. Also, he is a member of the Science, Technology, and Innovation Advisory Council for the Prime Minister. The "Grande Ufficiale della Stella d'Italia" was awarded to Bagla by the Italian president. Bagla has a bachelor's degree in economics with honours from St. Stephen's College in New Delhi and a dual master's from Georgetown University's School of Foreign Service in Washington, DC, in international diplomacy and international trade and finance.
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