The biggest opportunity for India is China-plus-one, according to Nilesh Shah, managing director at Kotak Mahindra Asset Managemet Co., as he expects it to create manufacturing jobs.
“We can create lots of manufacturing jobs by capturing China plus,” said Shah on the sidelines of BQ Prime's The India Opportunity Summit on July 13. "With 45% global capability centres operating from India, we are creating a record in service exports growth. What we did in services, we have to do in manufacturing."
Big Opportunities
“The rich become richer and poor are not participating in growth story as much as they should. Of course, there are challenges, but if we can capture manufacturing sector, if we can move 10-15 crore Indians from agriculture to manufacturing and services, that is the opportunity and that will then take our K-shaped recovery, then we will create growth opportunity for every Indian.”
How well India supports businesses to become competitive globally and improve the ease of doing business are factors that will determine the growth that they achieve as well as the extent of GDP growth, Shah said.
“India is a rising tide. Every boat will get lifted; some sooner, some later. Just ensure that you are not in that boat which has a hole in it in terms of governance," he said. "As long as you are with a promoter with some vision, a lot of execution and who respects minority shareholders, you should do well, no matter which sector.”
Watch the full conversation here:
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