P Chidambaram, Former Finance Minister, said that “given current
stage of development in India, we should not aim for double digit
growth but should aspire for inclusive growth that uses resources
efficiently”.
Speaking on Remaking Indian Economy: A fresh Approach for a
Changed World at the AIMA’s 41st National Management
Convention, Mr. Chidambaram said that the world today is far more
complex and it is realistic to aim for 8 % growth for next 7-8 years.
He further advised financing the growth from own resources.
It would be wrong to presume that developed countries would always
be exporting capital to developing countries, he said while advising
that the country thus needs to increase savings and investment.
India would need to be diligent and persistent in initiating
reforms besides improving quality of infrastructure and various
services and facilities including education, drinking water, health
etc. in order to develop better workforce to support higher growth,
he said adding “we need to prepare ourselves to be more
competitive”.
Earlier, Mr D Shivkumar, Chairman and CEO, Pepsico India Holdings
said that “India needs to think in terms of scale and not niche,
brand-innovation-design (B-I-D) and not of Jugaad if it has to move
ahead”.
Making a presentation on Changing Times: Reinventing the
India stroy, Mr. Shivkumar said that India has made lots of progress
and would progress more in coming years, but we need to identify
whether we need higher growth or inclusiveness and sustainability.
India needs to make conscious investment in education, increase women
participation in workforce, develop smart cities and above all stop
being a nation of complainers, he said.
In a session on Role of Technology : Preparing for a Digital
Future, Ms. Sangita Reddy, JMD, Apollo Hospitals Group said optimum
use of IT and digital technology would be in improving quality of
life, reducing child and mother mortality. Greater use of IT in
primary healthcare would improve quality of healthcare. She also
called for linking personal health records to UID to create a
nationwide data bank.
Ms. Kumud Srinivasan, President Intel India suggested taking
technology to every nook and corner of the country. To leverage
technology 100 %, everybody should have access to it, she said. She
also asked for increasing manufacturing of electronic components
within the country and reducing dependence on imports.
Ms. Vanitha Narayanan, MD IBM India said that the advantage of a
digital economy is that it does not have geographical border and
putting constraints would stifle innovation.
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