MUMBAI: The era of very low interest rates is behind us, veteran banker Uday Kotak said at the ET CEO Roundtable here on Tuesday, which deliberated on how India can thrive amid global turmoil.
Kotak said the US Fed rates will not come down to zero. “We are in a world now where there’s going to be a price for money,” said Kotak. “I’m happy that we are growing at 6-7%…but what India needs is a 9% growth. If we grow at 9%, only then over the next 20-25 years we will have an average per capita of $15K and that should benefit the vast number of Indians. India has to build capacity andsustainability,” said Kotak.
Tata Sons chairman N Chandrasekaran said consumption is going up and India probably has the best digital public infrastructure. He, however, said advanced manufacturing is not like building an app – “it can’t be up and running in a week; it will take time”.
“Our energy spend will quadruple. We are perhaps the only country that will produce all renewable energy for additional growth and not replacement. Given our demand impulse we have to do a lot in grid, transmission and power,” said Chandrasekaran, while adding whether there is a global crisis or not, supply chains of global companies will require a strong base in India.
Chandrasekaran mentioned geopolitics as a major risk factor to watch out for.
While Wipro chairman Rishad Premji said there is a need to be purposeful and aggressive about skilling, Salesforce India CEO Arundhati Bhattacharya said GenAI will change every sphere of work. “We are on the cusp of a very big change. This delta is going to influence every sector, including the financial sector,” said Bhattacharya.
Erring on the side of caution, Zerodha founder Nithin Kamath said India truly needs an advisory network of registered investment advisers. “Markets have grown so much and a lot of people have come believing that they can make a lot of money. For the scale of this country, we need some hundred thousands of such advisers,” he said.
Sundaram Clayton MD Lakshmi Venu stressed the need to create food processing centres and agritech hubs, “lots of farmers engaging in agritech digitisation… those innovations need to reach other farmers”.
Times Internet vice chairman Satyan Gajwani said, “Today we are the world’s envy in terms of our digital platforms and capabilities. The most developed economies of the world are envious of us and set India’s platform as the benchmark that they want to achieve for their own markets.” Gajwani added this infrastructure is not just empowering, but it’s also enabling all facets and all segments of society in India.
Kotak said the US Fed rates will not come down to zero. “We are in a world now where there’s going to be a price for money,” said Kotak. “I’m happy that we are growing at 6-7%…but what India needs is a 9% growth. If we grow at 9%, only then over the next 20-25 years we will have an average per capita of $15K and that should benefit the vast number of Indians. India has to build capacity andsustainability,” said Kotak.
Tata Sons chairman N Chandrasekaran said consumption is going up and India probably has the best digital public infrastructure. He, however, said advanced manufacturing is not like building an app – “it can’t be up and running in a week; it will take time”.
“Our energy spend will quadruple. We are perhaps the only country that will produce all renewable energy for additional growth and not replacement. Given our demand impulse we have to do a lot in grid, transmission and power,” said Chandrasekaran, while adding whether there is a global crisis or not, supply chains of global companies will require a strong base in India.
Chandrasekaran mentioned geopolitics as a major risk factor to watch out for.
While Wipro chairman Rishad Premji said there is a need to be purposeful and aggressive about skilling, Salesforce India CEO Arundhati Bhattacharya said GenAI will change every sphere of work. “We are on the cusp of a very big change. This delta is going to influence every sector, including the financial sector,” said Bhattacharya.
Erring on the side of caution, Zerodha founder Nithin Kamath said India truly needs an advisory network of registered investment advisers. “Markets have grown so much and a lot of people have come believing that they can make a lot of money. For the scale of this country, we need some hundred thousands of such advisers,” he said.
Sundaram Clayton MD Lakshmi Venu stressed the need to create food processing centres and agritech hubs, “lots of farmers engaging in agritech digitisation… those innovations need to reach other farmers”.
Times Internet vice chairman Satyan Gajwani said, “Today we are the world’s envy in terms of our digital platforms and capabilities. The most developed economies of the world are envious of us and set India’s platform as the benchmark that they want to achieve for their own markets.” Gajwani added this infrastructure is not just empowering, but it’s also enabling all facets and all segments of society in India.