9 months ago
Shaktikanta Das Backs Reforms, Technology, and Tier-2 Growth for India
Imagine India's economy is like a strong house that stays standing even when there's a storm outside.
That's what a top official named Shaktikanta Das said.
He believes India's economy is doing well because of smart changes the government is making, like with taxes (GST).
He also thinks new technology and young companies are super important for everyone to grow and find jobs, not just in big cities but also in smaller ones.
Das encourages young people to see problems not as roadblocks, but as chances to invent and improve things.
He hinted that more good changes are coming to help India become even better by the year 2047.
Shaktikanta Das affirmed India's economy is sound, stable, and resilient despite global geopolitical and trade rule shifts.
He identified three pillars for India's growth: economic stability, the Viksit Bharat 2047 vision with ongoing reforms, and technology/start-ups driving inclusive growth.
Das pointed to GST reforms and deregulation as evidence of political will and administrative action towards improving the ease of doing business.
Technology, including AI and digital innovation, is seen as a key driver for job creation and growth in tier-2 and tier-3 cities.
Das urged the next generation to view challenges as opportunities to advance India towards its 2047 goals, hinting at further reforms.
- Who
- Shaktikanta Das, Former RBI Governor and Second Principal Secretary to PM Modi
- What
- Stated that India's economy remains sound, stable, and resilient, highlighting reforms, technology, and growth in tier-2 cities as key drivers for India's future.
- Where
- At the CNBC-TV18 Global Leadership Summit.
- When
- Implied to be recent, during the CNBC-TV18 Global Leadership Summit.
- Why
- To share his views on India's economic outlook, the importance of reforms, technology adoption, and the vision for Viksit Bharat 2047 amidst global uncertainties.
Optimistic Outlook
Cautious Pragmatism
Economic Resilience
Optimistic Outlook
Das emphasizes India's economy is sound, stable, and resilient, even with global trade rule and geopolitical shifts, driven by strong macro fundamentals and reform momentum.
Cautious Pragmatism
While acknowledging India's strengths, the context implies an awareness of global challenges that require a pragmatic approach to reforms and growth strategies.
Pace of Reforms
Optimistic Outlook
Das suggests that recent reforms are just the 'trailer' and more significant steps are to come, indicating a bold and forward-looking reform agenda.
Cautious Pragmatism
The 'trailer' comment suggests a staged approach to reform implementation, possibly indicating a need to observe the impact of initial measures before proceeding with larger ones.
Key facts
- Event
- CNBC-TV18 Global Leadership Summit
- Speaker
- Shaktikanta Das (Former RBI Governor & Second Principal Secretary to PM Modi)
- Key Themes
- Economic resilience, reform momentum, technology, start-ups, tier-2/tier-3 city growth, Viksit Bharat 2047
- Pillars for India's Growth
- 1. Stable Indian economy amid global shifts, 2. Viksit Bharat 2047 vision with GST and deregulation reforms, 3. Technology and start-ups as engines of inclusive growth
- View on Disruptions
- Every challenge is an opportunity for current and future generations.
Timeline
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Quotes
Shaktikanta Das
Former RBI Governor & Second Principal Secretary to PM Modi
“Every challenge is an opportunity, and I am sure the current and future generations will capitalise on them to take India towards 2047’s Viksit Bharat”
CNBC TV 18
“The roadmap has been laid… several reforms this year have been undertaken, not only in GST but also in non-financial sector deregulation”
CNBC TV 18
Sources
There's no free lunch, but RBI aims to minimize the cost of stability: Governor
Shaktikanta Das: ‘Every challenge an opportunity’; backs reforms, tech and tier-2 growth - CNBC TV18
SBI Transformed From Being In Loss In 2018 To $100 Bn Company, Due To Regulatory Reforms By RBI: Governor Malhotra
Banks’ entry into acquisition financing to aid growth, says RBI Governor
“No Regulator Can Or Should Substitute For Boardroom Judgements” Says RBI Governor.
KV Kamath backs consolidation in India's banking sector for scale and efficiency - CNBC TV18
Not regulator’s job to make decisions for bank boards: RBI Governor
