Business News | India witnesses economic growth in a generation: Amitabh Kant, G20 Sherpa, Capital Talks, JGU Thought Leadership Series

OP JINDAL UNIVERSITY

New Delhi [India]May 6: India is witnessing a once-in-a-generation economic boom, which can be attributed to the radical changes that have taken place over the past decade, India’s G20 Sherpa Amitabh Kant said at the thought leadership series Capital Talks. , launched by Jindal India Institute (JII) on the theme „India High Table-Leader at G20”.

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„India is an oasis of growth amid a slow economic landscape across the world. The challenge for India is to sustain it and accelerate this growth rate to a high rate of 9-10% over the next three decades. Second, globalization has lifted us above the poverty line, and artificial intelligence, artificial The world is also witnessing the emergence of intelligence, quantum computing, and blockchain that can continue to drive the world to a much higher level of productivity and change the lives of citizens around the world. Hence, the ethical assumptions behind these technologies will be critical, and geopolitically, as no country can do it alone. As a function, I want to emphasize on the spirit at the top table!” Kant said.

In a wide-ranging discourse covering geopolitics, current affairs, economic growth, globalization, climate change, technological developments and more, Mr. Amitabh Kant delivered a profound and insightful lecture on how India can overcome challenges and become one of the most important economies. In this world. „Geopolitically, the world is undergoing profound changes. Great power competition has returned to center stage. The consensus established in the post-World War II era, which led to the establishment of the United Nations and global international financial institutions, has been shattered by the war raging in the heart of Europe for more than three years. , the Russia-Ukraine crisis is at the center of the rivalry, which has led to the complete paralysis of the United Nations Security Council as a body, which, to my mind, has become completely irrelevant as far as international policymaking is concerned.” Kant said.

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„India now aims to increase its share of global GDP from 4.5% to become a $30 trillion economy by 2047. Over the past decade, India has undertaken a number of structural reforms. There has been an impressive build-out of digital infrastructure. This is unparalleled and, for the first time, from an emerging market. has come, and in the period from 2015 to 2017, India is the only country with more than 20 million bank accounts opened, which means 55% of the bank accounts opened in India were only 18%, and today 91% of women in India have one. Going forward, it replaced 28 taxes and cesses and reduced corporate tax which is now globally equal and India is no longer a weak economy today.”

Kant also elaborated on the key initiatives important for the development of India. „In the era of Covid, there has been a lot of focus on infrastructure. In the last nine years, India has built around 14 million houses, which is more than the population of Australia, built around 120 million toilets. India has created a complete Germany of toilets and provided piped water connections to 260 million Indians, which is more than Brazil’s entire population. He also touched on the rapid expansion of roads, expressways and other infrastructural elements that fueled growth in India, like providing piped water connections to people.

„Japan, Korea and then China grew rapidly because world trade grew at the same time. India needs to accelerate the pace of growth at a time when world trade is slowing down. India’s growth story is mostly the service sector, but we need to ensure that we become a manufacturing nation with scale and scale. 50,000 large manufacturing firms should be created, while India should push for sustainable urbanization After three decades of rapid growth, it should focus on improving learning outcomes that are very poor in India.

In his welcome address, Prof. (Dr) C. Raj Kumar, Founding Vice-Chancellor, OP Jindal Global University (JGU) and Chairman, Jindal India Institute, said, „We, at JGU, are focused on bringing high-level discussions to India’s economic growth and its leadership role in the G20. Significantly, India’s G20 Sherpa’s platform for capital talks celebrates its 15th anniversary in 2009 with more than 100 students and 10 faculty members, more than 12,500 students from more than 70 countries and more than 1100 full professors from 51 countries. We look east at 450 universities in 75+ countries with full-time faculty members in 12 schools and international collaborations, but we have recently signed MOUs with seven leading Japanese universities and partnered with more than 50% of Malaysian universities to provide affordable education. Today, JGU has been ranked as India’s top-ranked private university in the QS World University Rankings and has also been recognized as an Institution of Eminence by the Government of India.”

Jindal India Institute (JII), Professor (Dr) Shriram Chaulia, Director General, Jindal School of International Affairs, Jindal School of International Affairs, said, “JII is a think tank that promotes a positive understanding and appreciation of all things Indian. The international community promotes education, engagement, training. Conferring and conferring high degrees, as well as advocating policy and highlighting India’s achievements, not only its illustrious history and civilization, but also its contemporary achievements in the fields of economy, society, politics, art and culture, science and technology, ecology and environment, and positioning India as a world leader. , which actually changes the existing international order.”

Introducing Amitabh Kant, Professor (Dr) Mohan Kumar, Dean, Strategic and International Initiatives and Director, Center for G20 Studies, said Kant was the most impressive of the executive services officers he met who brought a market-changing idea. For tourism in Kerala. „He took Kerala from the $20 target to the $500 target. He also had the vision to study the Multidimensional Poverty Index and in his role as India’s Sherpa at the G20, he excelled in building consensus on many issues across many countries. – lateral body.”

Prof. Ambreen Khan, Associate Professor of Practice and Director of Media Outreach & Special Initiatives moderated & gave closing remarks.

(Disclaimer: The above press release is provided by OP Jindal University. ANI is in no way responsible for its content)

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