India Through the Eyes Top Biz Leaders

Bangalore: Every Indians would be feeling proud today as they are rejoicing the sixty fifth birthday of independent India and there are much more for them to be merry on this occasion. 

On the wake of the sixty fifth anniversary of Indian Independence, India is surely at the peak of turning into an economically stable nation. Among the other developing countries, our land is also showing a steady growth. Though, there are still worries about how well and fast it can achieve the economic stability.

Here are some businessmen talking of the country, its economic status, how well it can join the chain developed nations, how good and easy it is to do business in the country and how the country will prosper in the next few years. And there are anxieties too. Let’s listen to their ideas, hopes and wishes and get inspired.

Next Decade Will Be Bright For India: K V Kamath

“In many ways we are at the same stage as China was in 2003, and therefore the possibilities for the next decade for us are tremendous. We do have the potential of achieving the same results as they have” said K V Kamath, Chairman of ICICI Bank.

In a report appeared in Business Line, Kamath termed demography as the most important driver of growth in India and said that by 2020 the demographic advantage in India to the rest of the world will become even more significant.

The report also says that by 2020 the middle-class population in the country would be close to 580 million and per capita income would be $4000, all these would result in the demand for better services, , infrastructure and for better living environment and an accelerating consumption cycle. Investment in infrastructure is projected to increase to over 9 percent of GDP, Kamath added.

The changing character and potential in rural India would further catalyze the progress, as several initiatives taken in the recent years—rural road development, supply chain management, communication technology and financial services—have redefined the business needs of rural economy, he said.

Meanwhile, he stressed on the need for investments in basic healthcare, primary education and vocational training and said that the challenge for our country is to upgrade skills and to meet the industry requirements.