Uday Kotak, the billionaire founder of Kotak Securities, has sought to promote enterprises without over-regulation and micromanagement to build a competitive India as US President Donald Trump assumes office.
In a post on the social media platform X, Uday Kotak wrote,
“As the Trump era dawns, it is time for us to unleash broad based enterprise, avoid over regulation and micromanagement in every sector, and build a competitive India.”
Kotak also shared his previous post from December 29, titled “My year end musings: India at 77."
Kotak shared a list of wishes for India's future, where he specifically mentions about protectionism, over-regulation and micro-management. Here are details of wishes enlisted by him in a post on X.
1. Go for growth. Let’s get enterprise and animal spirits firing.
2. ROTI is Return on time invested. Go relentlessly for productivity.
3. Shun protectionism. It may benefit in the short term. Long term it makes us uncompetitive.
4. We need a plan to eliminate the current account deficit in reasonable time.
5. Increase investment in defence. Power is power. Safety is pre-requisite for prosperity.
6. Continue with gentle and steady fiscal consolidation from here.
7. Avoid over-regulation and micro-management across sectors. Zero accident policy is high risk to growth.
8. Respect free and fair markets. Intervene only if there is evidence of bubbles or manipulation.
9. India is 1.4 billion people. Let many flowers bloom.
10. We must get out of having amongst the most polluted cities in the world. Let us walk the talk.
Donald Trump took oath as the 47th President of the US on January 20. After taking the oath of office, Trump signed a series of executive orders.
In terms of BRICS nations, Trump reiterated to impose 100 per cent import tariffs if they took any steps towards cutting the use of the dollar in global trade. The BRICS nations include Brazil, Russia, China, South Africa and India.
Catch all the Business News , Corporate news , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.