new delhi india could attract close to 10 billion in renewable energy investment in 2023 a bright spot as public markets remain largely shut to bigticket capital raising according to bank of america corps top executives in the countrydeals and investments will continue to flow into areas such as electric vehicles and green hydrogen kaku nakhate the lenders president and india country head said in an interview as investors look to reflect the energy transition in their portfolios if you really have to get your esg story right and if you are into energy then you can do large pieces of work in india nakhate saidsectors such as renewable energy and retail are set to benefit as india pulls ahead of emerging market rivals in attracting overseas investors even as dealmaking globally has been hit by rising interest rates and market volatility the south asian nations geopolitical stability helps position it for greater inflowsinvestors and companies attending the banks recent north american roadshow were impressed by the indian governments clear targets to achieve net zero carbon nakhate said people take us seriously she said thats why we are seeing more sustainability funds that want to invest in indiathe bank will continue to build out its distressed debt financing business in the renewable energy sector which has generated doubledigit returns she saidalong with green investment nakhate predicts an increase in dealmaking in consumer brands which are supported by rising per capita income and spendingif you want to play the india story you will want a mix of brands to enjoy the distribution story nakhate saidthe bank also expects india to benefit from socalled friendshoring by companies that are rethinking their supply chains disrupted by covid and the ukraine war nakhate said india with its democratic traditions and robust domestic markets is well suited to attract this capital nakhate saidipo challenges the optimism is offset by the picture in initial public offerings though firsttime share sale volumes plunged globally in the year to date indias decline of nearly 60 versus the same period in 2021 outpaced the worldwide slump data complied by bloomberg showbank of america doesnt plan to make significant hires in the coming year in india nakhate said as investment banks worldwide have cut back on staff and bonuses a local exception is kotak mahindra bank ltds investment banking arm which is planning to hire about 20 bankers as it bets on a rebound in deals activity next year chief executive officer s ramesh told bloomberg news in an interview last monthlarge ipos of 1 billion or more likely wont return until the end of 2023 or into 2024 according to subhrajit roy india head for global capital markets at bank of america yet the market could see mediumsized listings as soon as the middle of next year he saidit is early days of a turn of risk appetite for both companies and investors roy saidthe market isnt entirely devoid of activity about 66 billion worth of block trades have