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Uday Kotak’s year-end musings: From pollution to defence, 10 action points for 2025
- Uday Kotak outlined a set of ten action points for 2025, touching on issues ranging from economic policies to environmental challenges.
As 2024 inches closer to an end, Uday Kotak, Founder and Director of Kotak Mahindra Bank, shared his thoughts on the priorities for India's growth and development in 2025. In a series of posts titled "India at 77" on social media platform X, Kotak outlined a set of ten action points, touching on issues ranging from economic policies to environmental challenges.
- Growth: Kotak began by calling for a renewed focus on economic growth, urging India to “go for growth” and unleash the “enterprise and animal spirits” necessary to drive progress.
- ROTI: Highlighting the importance of efficiency, he introduced the idea of “ROTI” or Return on Time Invested, advocating for relentless pursuit of productivity.
- Protectionism: At the same time, he warned against the dangers of protectionist policies, stating, “Shun protectionism. It may benefit in the short term. Long term it makes us uncompetitive.”
- Current Account Deficit: On economic stability, Kotak emphasized the need for a clear plan to address the country’s current account deficit (CAD) within a reasonable time frame.
- Defence: Spending in the defence sector also featured prominently in his vision for 2025, with a succinct remark: “Power is power. Safety is prerequisite for prosperity.” He suggested steady fiscal consolidation, encouraging policymakers to continue this approach to ensure sustainable economic health.
- Fiscal consolidation: The Indian government aims to reduce the fiscal deficit to below 4.5% of the GDP by FY26. For the ongoing fiscal year FY25, the target is 4.9% of the GDP. “Continue with gentle and steady fiscal consolidation from here,” Kotak wrote.
- Regulatory framework: Kotak cautioned against overregulation across sectors, observing that a “zero accident policy is high risk to growth.”
- Free and fair markets: He stressed the need for balanced governance, noting the importance of respecting “free and fair markets” and intervening only when there is evidence of manipulation or financial bubbles.
- Thriving innovation: Reflecting on India’s population of 1.4 billion, Kotak envisioned a dynamic environment where innovation thrives, stating, “Let many flowers bloom.”
- Walk the talk: A stark call to address environmental degradation rounded out his musings. Kotak drew attention to India's severe pollution problem, urging collective action to ensure cleaner and healthier cities. “We must get out of having amongst the most polluted cities in the world. Let us walk the talk,” he said.
Uday Kotak's year-end reflections paint a comprehensive picture of the challenges and opportunities awaiting India in 2025. His pragmatic suggestions offer a roadmap for leaders and citizens alike to build a prosperous, competitive, and sustainable future for the nation.
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First Published:29 Dec 2024, 11:53 AM IST
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