Economy

Strong domestic economy, exports crucial for India to rise globally: Kotak

Read more at www.thehindubusinessline.com

A strong domestic economy, significant positioning of exports, stable financial sector and meeting the challenge of jobs are some of the critical focus areas for India to help get global leadership, said veteran banker and CII President Uday Kotak on Wednesday.

“Going ahead, global economic leadership in the world will not be determined only by military but by technology and economic power,” Kotak said at the CII Western Region Annual Meeting 2020-21 and Conference on ‘Regaining Growth: From Crisis to Opportunities’, while highlighting eight key themes for India to emerge as an economic leader.

Infra and investments

Apart from the focus on consumption, there is also a need for infrastructure and investment, which the Budget has highlighted, for a strong domestic economy, he said. Similarly, as part of the Aatmanirbhar efforts, there should be significant positioning in the world of Indian exports. Kotak, who is Managing Director and CEO, Kotak Mahindra Bank noted that Indian businesses also need to lead in technology and research and work on climate change, environment and sustainability.

“The Covid-19 pandemic has also broken the barriers of region, states and countries, which are now taken over by the digital world,” he said. He added that healthcare will be an important focus in the future.

Meanwhile, B Thiagarajan, Managing Director, Blue Star, has been elected as the Chairman of the CII Western Region for the year 2021-22 while Sunil Chordia, Chairman and Managing Director, Rajratan Group has been elected as the Deputy Chairman of the CII Western Region for the year 2021-22.

Read more at www.thehindubusinessline.com

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