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Global scene favourable to India’s growth: Industrie Experts

Sat 20 Jan 2024    
| 2 min read

Underlining that global conditions are favourable for the growth of the country, industry experts have urged youngsters to play their role in making India a developed country. 

Speaking at an event titled ‘Opportunities and Obstacles in Post Covid, Conflict Torn World’ at Jamnalal Bajaj Institute of Management Studies (JBIMS), for which the FPJ was a media partner, the experts spoke glowingly about various strategic, technological and economic strides taken in the last few years as they sought to project India as a key player on the global stage. Experts, however, also identified several challenges such as income inequality, poor per capita Gross Domestic Product (GDP), and lack of skill and educational level that may hold back the nation.

‘India is at the best place to take advantage of the rapid technological,’ said experts 
Ashish Chauhan, Managing Director and Chief Executive Officer (CEO) of the National Stock Exchange (NSE), said that the country is best placed to take advantage of the rapid technological advances thanks to its young population. He added, “We weren’t even spectators of earlier technological advancements, but now we are at the starting line. China has become older due to its one-child policy, and its population is declining. Hence, it’s stuck at a middle-income level. Japan got rich before it became old. The US would have been old had it not been for the Indians migrating there,” he said. 

Experts stressed the financing model
Richard Rekhy, former CEO of KPMG India, emphasised the need to develop a financing model to boost the country’s physical infrastructure and research and development (R&D). “Currently, there’s no financing system for infrastructure. We need to put in place a system for it. We also don’t spend enough on R&D…” Rekhy pointed out, “We can become a healthcare tourism market, but we also need to ensure that common people have health access. We need to have inclusive growth.” 

‘India is a vibrant country,’ said experts 
Intaiyazur Rahman, CEO of UTI Mutual Fund, urged the students to fulfill their aspirations and make their careers in the country, as he cited his example of prospering despite humble beginnings. “My view is that India has already risen. It’s a very vibrant country. We were able to administer 2.2 billion vaccines during Covid. That showed the world how powerful we are,” he said.

(This article is published under a mutual content partnership arrangement between The Brew News and The Free Press Journal)

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