Ning Loh is Managing Director and Head of Credit Strategy at Moody’s Ratings, based in Hong Kong. In this role, he is responsible for defining, articulating and promoting Moody’s global house views on credit drivers, macroeconomic forecasts, financial markets and emerging markets dynamics. Concurrently, he is also Chief Credit Officer for APAC and works with rating groups throughout the region to develop Moody’s perspectives and research regarding macroeconomic, policy, and thematic trends that affect credit risk.

Since joining Moody’s in London in 2005, Ning has held roles across various markets and rating groups in Europe, Asia, and the US. In 2015, he moved to Hong Kong to lead the structured finance new ratings franchise for South and Southeast Asia. In 2018, Ning led the U.S. Corporate Asset-Backed Securities (ABS) team. He later returned to Hong Kong to head the North Asia (excluding Japan) team in the Project & Infrastructure Finance Group before taking on his current position.

Before joining Moody’s, Ning practiced law in London, specialising in structured finance and debt capital markets. Ning holds a Master's in Civil Engineering from Imperial College London and is a Solicitor of the Senior Courts of England and Wales.

Dr Soumya Kanti Ghosh is currently Group Chief Economic Advisor, State Bank of India, member, 16th Finance Commission and member, Prime Minister Economic Advisory Council (PMEAC).

Previously, he has worked at the Tata AIA, American Express and ICRA among others. Dr. Ghosh has been a co-author in a pioneering work to capture payroll data in India for the first time, both formal and informal, and providing inputs in designing the PMKISAN scheme for farmers and the ECLG scheme for MSME borrowers that have been very successful during the times of pandemic. Following his report, EPFO and ESIC has started to give out monthly payroll data.

Dr. Ghosh serves as the Chairman of the Indian Banks’ Association’s Economist Group. He is also a member of Editorial Advisory Board of Indian Institute of Banking and Finance. Dr Ghosh is also a member of Governing Board at Indian Institute of Corporate Affairs.

Dr Ghosh is also a Committee Member that has been set up by the Government of India to revise the IIP, revise the WIP and the economic classification of activities. Dr Ghosh is also a distinguished fellow at Infra Vision Foundation. For 8 successive years ending 2025, Dr. Ghosh has been ranked as one of the Best Individuals in Research in India by the Asset magazine. He has an extensive list of publications in domestic and international journals and is a regular contributor to OPEDs in print media and a commentator in electronic media on economic issues. Dr Ghosh has completed his undergraduate degree from Kolkata University, post-graduation from Delhi School of Economics and doctoral thesis from JNU.

Dr. Sachchidanand Shukla is Group Chief Economist at Larsen & Toubro Ltd. He has over 27 years of experience spanning the corporate sector, capital markets, financial services and public policy. Prior to joining L&T, he was associated with the Mahindra Group as Chief Economist and with Axis Capital (earlier known as ENAM) as Senior Vice President and Chief Economist prior to that.

His key areas of research have been industry, financial markets, strategy, development policy, programme implementation and impact evaluation. He has a Ph.D in financial economics from Birla Institute of Technology and a post graduate degree in Economics from the University of Mumbai as well as PGDBM (Finance) and has been a recipient of K.J Somaiya Gold Medal.

Dr Shukla is a member of the RBI’s Committee for Review of Housing Price Index and also a member of IN-SPACe’s Joint Working Group on Estimation of the Space Economy Contributions towards National GDP (2025-26).

He was a part of the Advisory panel for NITI Aayog’s Report on Deepening the Corporate Bond Market in India (2025) and has also been a member of NITI Aayog’s consultative committee of Economists (2019-2022). He was also a part of the Planning Commission/ World Bank study - Maharashtra Development Report - as an `External Expert’ (2001-2003).

He is also keenly associated with the academia and is a Member of the Governing Board of Somaiya Vidyavihar University, Mumbai, a Guest Faculty at IIM-Mumbai and an external Area Advisory Board Member at IMT Ghaziabad. He has authored a book (on macro-economics for BMS course of Mumbai University) besides publishing several research papers and articles in newspapers.

Dr Shukla is currently Co-chairperson of FICCI’s national Economics & Policy Committee (2019-2026) and the Chairman of the Policy & Economics Committee of the Bombay Chamber (BCCI). He is also a member of Confederation of Indian Industry’s (CII) national economics committee.

Jyotinder Kaur is Executive Director in the Country Risk Management group at J.P. Morgan Chase & Co. based in Mumbai. She is the Country Risk Lead for South Asia and ASEAN and the team’s global geopolitical risk specialist with prior experience covering Greater China and Japan from Hong Kong. Before joining JP Morgan in the Country Risk team, she was the Principal Economist of HDFC Bank, India’s largest private sector bank, where she drove the treasury economics research agenda. She has also worked for the World Bank in the Office of the Chief Economist in Washington D.C. Jyotinder has twenty years of experience as an Economist with a Masters in Economic Policy Management from Columbia University, New York and a Masters in Economics from Delhi School of Economics, University of Delhi. Her areas of expertise include geopolitics and crisis preparedness, macro-financial linkages, financial crises and business strategy.

Aditi Nayar is ICRA’s Chief Economist and Head of Research & Outreach. She leads Indian economic and state finances as well as cross-sectoral research at ICRA Ltd. Her focus areas include macroeconomic analysis and forecasting, policy assessment as well as fiscal analysis and debt sustainability at the sovereign and sub-sovereign level. 

She has been a part of several credit rating exercises for sub-sovereign debt in India, including debt raised by state governments, state-owned entities spanning sectors such as irrigation, power, industrial and infrastructure development, pooled finance entities raising funds for urban infrastructure, as well as urban local bodies. 

Aditi has an overall work experience of 19 years, out of which 17 years have been with ICRA. Previously she had a stint with the World Bank as a research analyst where her focus was on fiscal and macroeconomic issues. 

Aditi has been named as one of the top forecasters of India by Bloomberg in the past. Aditi has an M.Phil. degree in Economics from the University of Oxford and a Bachelor's degree in Economics and Psychology from Indiana University, Bloomington.

Christian de Guzman is a Senior Vice President with Moody’s Sovereign and Sub-Sovereign Risk Group. Based in Singapore, he covers a portfolio of sovereigns and multilateral development banks in Asia Pacific, including Japan, India and a number of Southeast Asian credits, while also managing the team responsible for sub-sovereign ratings in Asia ex-China.

Christian joined Moody’s in 2009, after working as a Senior Economist for the Monetary Authority of Singapore, covering ASEAN economies. He has also held various positions with the Research Department at the International Monetary Fund in Washington DC, and Procter & Gamble in Singapore.

Christian was a Phi Beta Kappa graduate in Economics and Political Science at the University of Georgia and received his M.A. in International Economics and Southeast Asian Studies from the Johns Hopkins University School of Advanced International Studies.

A first-generation entrepreneur, Sridhar Pinnapureddy has founded and built to scale several companies in the areas of cloud computing, IT infrastructure, Internet services, green energy, and software development.

CtrlS Datacenters today boasts of creating the world’s largest Rated-4 datacenter footprint with 19 certified operational datacenters and many more in various stages of development. CtrlS’ datacenters are used by over 60 of the Fortune 500 MNCs and five of the top seven hyperscalers of the world.

Under his leadership, CtrlS has set up India’s first captive solar farm by any datacenter operator in Nagpur, Maharashtra christened ‘GreenVolt 1’. With ambitious plans to develop over 1GW of renewable energy capacity by 2030 across India, CtrlS is dedicated to reducing carbon emissions and promoting renewable energy adoption, with a goal to achieve Net Zero by 2040.

Sridhar is closely involved with Assocham and The Indus Entrepreneurs (TiE) and served as chapter president and chairperson for TiE Global Summit. He is also an active member of Entrepreneurs’ Organization (EO), Young Presidents' Organization (YPO) among other global entrepreneur associations. He has been recently conferred with the PTC Outstanding CEO Award and W. Media Business Leader Award.

Mr. Samuel Joseph Jebaraj joined the Board of National Bank for Financing Infrastructure and Development (NaBFID) as Deputy Managing Director – Lending & Project Finance on 6th April 2023. Prior to joining NaBFID, he was Deputy Managing Director on the Board of IDBI Bank from September 2019 to April 2023. Prior to IDBI Bank, he was with Exim Bank for over 21 years in various capacities, last being Chief General Manager.

Mr. Samuel has over 31 years of varied banking experience. He was part of the turnaround team in IDBI Bank. As a whole-time Director, he was directly responsible for the Large & Mid-corporate Groups, NPA Management, Trade Finance, Overseas Operations, Finance & Accounts, IT & Digital Banking, MIS and HR at IDBI Bank. He was also on the Board of IDBI Capital Markets Ltd. and Chairman of the Board of Directors of IDBI Trusteeship Services Ltd. and IDBI Mutual Fund Trustee Company Ltd.

During his tenure at Exim Bank, he headed various verticals such as Corporate Banking, SME, Agri Exports, Loan Recovery, IT & HR. He was the CFO of Exim Bank between June 2014 and October 2017. He had served Exim Bank in various roles at their offices in Bengaluru, Hyderabad, Berlin, London & Mumbai.

Mr. Samuel was a Nominee Director of Exim Bank on a few corporate Boards. He is a regular speaker on Banking, Project Finance, Infrastructure Finance, Trade Finance, etc. He was a member of various Working Groups / Task Forces set-up by the Government of India on India's international trade. He led various international consultancy assignments for Commonwealth Secretariat in London, Exim Bank of Nigeria, Sri Lanka Exports, Saudi Export Agency, etc.

Mr. Samuel is an Honours Engineering graduate in Electronics & Communication from Madurai Kamaraj University and did his MBA in Finance from BIM Trichy.

Anupama is Vice President at ICRA and has been with the rating agency for over 15 years. Anupama is currently leading the analytical team in the real estate and data centers verticals. She is a regular speaker at industry conferences and has also authored various research articles on Indian credits in real estate and data center space.

She holds a B.E degree in Electrical and Electronics Engineering from Vasavi College of Engineering, Osmania University, Hyderabad and has done her Masters in Business Administration from Narsee Monjee Institute of Management Studies, Mumbai. Anupama has aggregate work experience of over 18 years, out of which she has been associated with ICRA for over 15 years.

Ray Tay is a Associate Managing Director in Moody’s Project and Infrastructure Finance Group. Based in Singapore, Ray covers project finance, transport, utilities and other infrastructure credits in Southeast Asia and India. Ray also authors research and conducts outreach focused on topics such as project bonds and the role of funding diversity and credit enhancement in bridging the infrastructure gap, particularly in emerging markets. Ray is also a member of Moody’s APAC ESG Working Group.

Before joining Moody’s in 2012, Ray was a Director with the Global Infrastructure & Projects Group in KPMG. Ray has also worked as a Senior Business Analyst with the Singapore Power Group, focusing on regulatory economics in each of its principal local operating subsidiaries.

Ray holds a Bachelor’s in Economics with honors from the National University of Singapore.

Mr. Amarjyoti Barua is the Chief Financial Officer for the Mahindra Group. He was the Group Strategy Head until May 2024. Mr. Barua holds a bachelor’s degree in economics and a Master’s degree in Business Administration.

Prior to joining the Company, Mr. Barua was the Finance Leader for Oilfield Services & Equipment (OFSE) segment of Baker Hughes for 6 years. As the finance leader for OFSE, he was responsible for partnering with operations to deliver growth & profitability at the $14 billion, 35000+ employee segment of Baker Hughes. Prior to Baker Hughes, Mr. Barua held multiple roles at General Electric Co. (GE) over the course of 18 years. He was the Chief Financial Officer (CFO) for GE’s Power Conversion business. He was also the CFO for GE Mining, Financial Planning & Analysis Leader for GE in India and Executive Audit Manager at GE’s Corporate Audit Staff. In his early years with GE, Mr. Barua completed the Financial Management Program and served as the Finance Manager for GE Aircraft Engines in India before joining the Corporate Audit Staff.

Ravichandran has an aggregate work experience of around 28 years, out of which he has been with ICRA Limited, for a period of around 25 years. He currently heads the entire analytical team in ICRA, comprising Corporate, Financial and Structured Finance sectors. He also oversees the functioning of the Rating Committees in ICRA. His other responsibilities include regulatory interactions and credit policy reviews. He is a regular speaker in industry conferences and has also been interviewed by leading business news channels. He has also authored various research pieces on Indian credits.

He holds a B.Tech in Chemical Engineering from Anna University, Chennai and a MBA from Bharathidasan Institute of Management (BIM), Trichy. He also holds the Financial Risk Manager (FRM) charter awarded by the Global Association of Risk Professionals (GARP), USA.

Shamsher is Senior Vice President & Group Head at ICRA and has been in the rating agency for over 15 years now. Based out of Gurgaon, Shamsher is part of the Corporate Ratings group and covers Automotive and Logistics sectors. 

He is also part of ICRA's Credit Rating Committee and has extensive experience of evaluating performance of companies across various sectors including Automotive, Logistics, Pharmaceutical, Healthcare, Travel & Tourism and Consumer Products. Shamsher has worked on various credit assignments for leading companies rated by ICRA and has been instrumental in developing ICRA's research offerings. 

He is MBA in Finance & Capital Markets from Narsee Monjee Mumbai.

Sweta Patodia is an Assistant Vice President – Analyst in the Moody’s Corporate Finance Group. Based in Singapore, Sweta covers a diversified portfolio of Indian corporates across the oil and gas, technology start-ups and IT sectors.

Sweta joined Moody’s in 2014 as an Associate Analyst. Prior to joining Moody’s, Sweta worked as a Credit Analyst for over three years at HSBC in India.

Sweta is a Chartered Accountant, Company Secretary and a CFA charter holder.

Architect of India’s Green Revolution

Vineet Mittal, India's pioneering ‘greentrepreneur’, is redefining the global energy landscape as Founder and Chairman of Avaada Group. With a bold vision to position India as the world’s leading renewable energy hub, he is making a profound impact on the nation’s clean energy transition.

Under his leadership, Avaada has evolved into a diversified energy conglomerate, driving advancements in Renewable Energy, Solar PV Manufacturing, Green Data Centers, Pumped Hydro Storage, Battery Energy Storage Solutions and Green Hydrogen & its derivatives—including Green Methanol and Green Ammonia.

A Global Trailblazer

A distinguished NIT engineer and Harvard Business School alumnus, Vineet Mittal has earned global recognition for his groundbreaking contributions to green energy and digital transformation. In 2022, Avaada achieved a historic milestone—building the one of the world’s largest single-site solar project by a private IPP of 1.25 GWp capacity in Rajasthan.

Beyond business, Mr. Mittal is a recognized thought leader in global climate action. As a World Economic Forum member, he has played a key role in shaping sustainable policies worldwide. He previously served as Co-Chair of the B20 Task Force on Energy, Climate Change, and Resource Efficiency, and currently chairs the CII Sub-Committee on Hydrogen Usage and Standards, championing India’s leadership in the clean hydrogen economy.

In 2025, the University of Engineering and Management, Jaipur, conferred an honorary Ph.D. upon Mr. Mittal in recognition of his pathbreaking contributions to renewable energy, sustainability and technological innovation.

Mr. Ashish Khanna, a renewable energy industry veteran, is a campaigner for ‘green growth’ and is committed to accelerating India’s clean energy transition. In April 2025, he took charge as CEO of Adani Green Energy Limited. He joined the Adani Group as the CEO of International Energy Business, where he led the Group’s expansion efforts across regions outside of India.

Prior to joining Adani Group, he was President – Generation in Tata Power. He was at the forefront of leading the renewables business of Tata Power as CEO of Tata Power Renewable Energy Limited (TRPEL), wherein he was conferred with responsibility for the firm’s clean energy business. Formerly, he was also the CEO and Managing Director of Tata Power Solar Systems. With his optimistic vision for clean energy, he made the portfolio grow multifold. His 36 years of career span ranges from Oil & Gas, Petrochemicals, Thermal/Power & Renewables.

He is also the Chairman of ASSOCHAM – the National Council for New and Renewable Energy. Mr. Khanna was also named as one of the Meaningful Business 100 Leaders for 2021 by Meaningful Business, a global platform that acknowledges exemplary leaders who excel at amalgamating profit with purpose. Prior to joining Tata Power, he worked with some of the leading organizations like Bechtel and Engineers India Limited. He is also a distinguished member of renowned business councils and collaboratives like the CII, FICCI and ICC.

Ashish has done Executive Program for IIM (Ahmedabad), holds a Master’s Degree in Management & Systems for IIT (Delhi) and Bachelor of Engineering from Delhi College of Engineering.

Mr. Girishkumar Kadam is Senior Vice President and Group Head – Corporate Sector Ratings at ICRA Limited.  

Girishkumar holds a B. Chem. degree in Chemical Engineering from the Institute of Chemical Technology (erstwhile UDCT), Mumbai, and a Masters in Management Studies (Finance) from the Jamnalal Bajaj Institute of Management Studies, Mumbai University. 

Girishkumar has an aggregate work experience of around 23 years, out of which he has been associated with ICRA for nearly 20 years. He has worked in Engineers India Ltd, New Delhi and in Torrent Power Limited, Ahmedabad.

Spencer Ng is a Vice President – Senior Credit Officer in Moody’s Public, Project & Infrastructure Finance team. Based in Singapore, Spencer is responsible for project finance and infrastructure credits, including power utilities, renewables and airports in South and Southeast Asia.

Prior to joining Moody’s in 2007, Spencer worked for Ernst & Young Transactions Advisory Services in their Project Finance team. Spencer has also held various analytical and accounting roles at ANZ Bank, JP Morgan and State Street Australia. 

Spencer holds a Bachelor of Economics and a Master of Commerce from the University of New South Wales. He is also a CFA charterholder.

Erman Zhang is an AVP-Analyst in Moody’s Project and Infrastructure Finance Group. Based in Singapore, she covers project and infrastructure credits in South and Southeast Asia.

Erman has several years of experience in infrastructure and asset finance. Prior to joining Moody’s, she worked in Mizuho Bank’s Singapore branch, covering a portfolio of major shipping companies. Erman’s previous roles included being a manager at the Singapore branch of bank of China, covering infrastructure and project finance in Southeast Asia, and being a corporate relationship manager at HSBC China.

Erman holds an MBA from the Nanyang Technology University in Singapore, a Master of Science in Economics from the Hong Kong University of Science and Technology and a Bachelor of Arts in Economics from the Sun Yat-Sen University in China. Erman is also a CFA charterholder.

Mr. Sudipta Roy is the Managing Director and Chief Executive Officer of the Company.

Mr. Roy is a consumer banking and payments professional with over 24 years of financial services experience. He joined the Company from ICICI Bank, where he served as Group Head and managed diverse businesses like Unsecured Assets, Cards, Payment Solutions, Student Ecosystem, E-commerce and Merchant Ecosystem, Millennial Banking and API Banking. Before his assignment with ICICI Bank since 2010, he has worked for Citibank and Deutsche Bank.

Mr. Roy has a deep understanding of consumer finance, cards and retail loans, lending and payments technology systems and associated risk management practices and has worked extensively in India, China and Canada in the consumer lending and payments business, having built green-field lending and cards businesses in all three countries.

He was voted as one of the Top 50 Digital Finance Influencers in the country in 2024 as well as the top 30 Fintech Influencers in India in the year 2021 and is a speaker at various forums on Retail Lending and Credit, History of Payments, Risk and Fraud Control and Future of Payments business.

Mr. Roy has also been a part of several Government and Reserve Bank of India committees in areas of transit payment systems, banking security and retail payments.

He is a chemical engineer from Indian Institute of Technology, Kharagpur and MBA from XLRI School of Management, Jamshedpur.

Paritosh Kashyap is a Whole-Time Director and a key member of Kotak Mahindra Bank’s Executive Leadership team, contributing to the group’s growth strategy and long-term vision. He oversees several critical functions including Wholesale Banking, SME and Retail MSME businesses, Investment Banking & Institutional Brokerage, the Asset Reconstruction & Development business, and Corporate Functions such as Credit, Vigilance, Marketing, External Strategy and Corporate Development. He also provides administrative oversight for Internal Audit, ensuring robust governance and effective strategic execution.

Paritosh is also the Chairperson of the DEI Council at the Bank and plays a strategic leadership and stewardship role, ensuring that DEI practices are embedded into the organisation’s culture, policies, and business outcomes.

Paritosh also serves as a Non-Executive Director on the boards of Kotak Mahindra Investments Limited and Kotak Infrastructure Debt Fund Limited. A Chartered Accountant and Cost & Works Accountant, he was recognized as “CA Business Leader” by the Institute of Chartered Accountants of India in 2024 under the Large Corporate – BFSI category. He has also contributed to industry thought leadership as a member of CII committees.

Mr. Karthik Srinivasan is Senior Vice President and Group Head – Financial Sector Ratings at ICRA Limited.

He holds a B.E. degree in Electronics Engineering from the K J Somaiya College of Engineering, Mumbai University, and a Masters in Management Studies (Finance) from the Narsee Monjee Institute of Management Studies, Mumbai University. He also holds the CFA charter awarded by the CFA Institute, USA.

Karthik has an aggregate work experience of around 23 years, out of which he has been associated with ICRA for nearly 20 years.

Alka Anbarasu is an Associate Managing Director in the Financial Institutions Group in Asia. Based in Singapore, Alka is responsible for Moody's analytical teams covering ratings and research on banks, insurance companies, and non-bank financial institutions in Japan, ASEAN and Indian Sub-continent. Alka also coordinates the Global Financial Institution Group's efforts on Environmental, Social and Governance (ESG) scoring and research. Alka is a regular speaker at Moody's market briefings, external conferences podcasts and broadcast media. She is very active in promoting Diversity, Equity and Inclusion (DE&I) initiatives and is a passionate impact leader for Moody's Community Impact initiatives in Asia.

Alka joined Moody's in 2013 and over the years has led the ratings of several high profile Asian financial institutions. Prior to joining Moody's, she worked in the investment banking division of J.P. Morgan in London and Mumbai and ING Vysya Bank in India. She has close to 20 years of experience in the financial industry. Alka holds an MBA from the Xavier Institute of Management in India.

Mr. L Shivakumar is the Chief Executive Officer of ICRA ESG Ratings Limited. He is responsible for generating business in the ESG rating sector, overseeing the company's overall growth, thought leadership and outreach. Additionally, Mr. Shivakumar holds the position of EVP of Business Development and Chief Business Officer of ICRA Limited. In this role, he has a countrywide responsibility for originating new business and serving existing clientele for ICRA's ratings and research products. 

Mr Shivakumar joined ICRA in June 1994 as an analyst and has led analytical teams for over a decade, demonstrating his commitment and capability. Before joining ICRA, he worked as a management consultant at A F Ferguson & Co. Before his post-graduation, Mr. Shivakumar worked as an assistant construction engineer with MECON Limited. He holds a Bachelor of Technology degree in Civil Engineering from the Indian Institute of Technology, Delhi, and a Postgraduate Diploma in Management (equivalent to an MBA) from the Indian Institute of Management, Bangalore.