Think tanks, top CEOs discuss path to $5 tn economy
2 min read 22 Mar 2023, 12:08 AM ISTThe panels discussed topics ranging from liquidity crunch in startups to when the markets are likely to recover
PremiumMumbai: The Mint India Investment Summit saw a gathering of India Inc’s think tank from policy makers to industry heads. The sector agnostic event had Parth Jindal-managing director (MD) for JSW Paints and JSW Cement detail out how he plans to invest in India’a future be it the core businesses or sports to SIDBI’s chairman and managing director (CMD) Sivasubramanian Ramann chalking out the initiatives of the government in boosting medium and small scale enterprises.
BC Patnaik, MD of the country’s largest insurance firm Life Insurance Corporation (LIC) highlighted the new investment opportunities and spotted how the growth trajectory of the next 25 years is filled with promises even when the global narrative may hint otherwise. Amit Jain, MD & Head, Carlyle India Advisors Pvt Ltd brought to focus on how PE firms are strategising their bets on India.
The panels and fireside chats discussed a plethora of topics ranging from liquidity crunch in the startups to when the markets are liklely to bounce back. Corporate governanance and whether investors are ready to pay a premium for better governed companies was met with a resounding ‘aye’ during discusisons.
Meanwhile, speaking during a fireside chat on the rise of the domestic multi-nationals, CEO’s of top consumer product companies spoke about the challenges and benefits of expanding businesses in markets overseas. Panelists , Sudhir Sitapati, MD and CEO, Godrej Consumer Products Limited, and Saugata Gupta, MD & CEO, Marico Limited, however, agreed that India continues to remain a bright spot for their business given a young population and growing incomes.
The discussions covered a wide spectrum of topics all linked to India inching closer to become a $5 trillion economy. Private equity and venture capital investors, who invested more than $100 billion in the last two years, will play an important role in the Indian economy’s ambitious growth journey. A panel of PE heads discussed how capital infusion can turbo charge the economy while another clutch of infrastructure investors debated the opportunities and challenges of investing in the country’s infra when government spending has increased.
Sustainable growth was an integral discussion point and while the production-linked incentive (PLI) scheme has attracted investment worth over ₹45,000 crore, created three lakh jobs and resulted in production worth ₹2 lakh crore; there is a need for more on-ground support from both government and industries. What are the steps taken to make India a sustainable manufacturing hub was a common thread both on a panel and throughout the event.
Whether stock markets are over valued as global volatility plays a domino impact on Indian bourses was discussed by leading stock market experts. The push towards a greener future was an equally sought after topic.
The two day event’s myriad set of discussion points was stitched together in the end by Bibek Debroy, chairman of Prime Minister’s Economic Advisory Council highlighted India’s real rate of growth versus aspirational one , the impact of urbanisation and how businesses across scales are getting organised.
