NDTV Profit Conclave Highlights: Top Industry Leaders Guide On Viksit Bharat 2047
One of the critical elements of Viksit Bharat is capital, according to Challa Sreenivasulu Setty, Chairman, State Bank Of India.
NDTV Profit on Tuesday hosted a conclave themed 'Blueprint for Viksit Bharat @2047' in Mumbai. At the NDTV Profit Conclave 2025, business leaders, policymakers, and ministers discussed and defined the strategies that will shape India's destiny.
The event saw notable key speakers include Union Minister for Commerce and Industry Piyush Goyal, State Bank of India Chairman CS Setty, Mahindra Group Chief Executive Officer Anish Shah, and Godrej Industries Group Chairperson Nadir Godrej.
Industry Leaders On Viksit Bharat At 2047
Union Minister of Commerce and Industry Piyush Goyal said India has a good opportunity to double trade with the US and complement each other economically rather than compete. "US and India collaborate for world good and human good. This is an opportunity for India to expand trade with the US. We look at this opportunity as a way to make India more competitive," he said.
"Young individuals who are connected to the internet are today aspiring to a better quality of life, which the rest of the world enjoys. As the economy grows to $35 trillion by 2047, we will have a per capita income of more than $20,000. The opportunities in the next 20-25 years are massive," said Goyal.
One of the critical elements of Viksit Bharat is capital, according to Challa Sreenivasulu Setty, Chairman, State Bank of India. "Household savings will continue to go to the banking sector," he further said.
Banking will undergo significant changes as India advances towards the vision of becoming a developed nation, says Kotak Mahindra Bank MD and CEO Ashok Vaswani.
Happy that mutual funds have a significant role in the road to Viksit Bharat, according to Radhika Gupta, MD & CEO, Edelweiss Mutual Fund. "When we talk about Viksit Bharat, we should talk about 70-75% of Indians benefiting from mutual funds," said Gupta. "We should move from Mutual Fund Sahi hai to Mutual Fund subke liye hai," she said.
Mutual fund participation and job creation have a much bigger role to play in Viksit Bharat, according to Navneet Munot, MD & CEO, HDFC AMC, and Chairman AMFI.
Rajesh Sharma, CEO of Kaynes Technology, said the production-linked incentives scheme has given a great push to manufacturing in India and given local companies a competitive edge. He also said the importance of semiconductors was very much realised during the pandemic. "It's not just India but countries around the world focused on semiconductors," he said.
"Investing in capex, skilling people, and technology is the role of the private sector. The key thing is how we will contribute to Viksit Bharat. We have to lead in key industries and not just follow others," said Dipali Goenka, CEO and MD, Welspun Living.
Efforts have been put to make it easier to do business in India, according to Anish Shah, Group CEO and MD, Mahindra Group. India has the ability to manufacture at scale and at lower cost, he said. "Our EVs are entirely manufactured in India," he highlighted.
Dinesh Thakkar said retail investors are going to come back in a big way even after the recent market correction. Ashishkumar Chauhan said technology brings change, and change brings wealth.
