Mumbai: Industry Experts Urge Youth Participation In India's Development During JBIMS Event

Mumbai: Industry Experts Urge Youth Participation In India's Development During JBIMS Event

"You can’t have a country where income equality exists. It’s a very serious issue. We need to look at education. Basic education has to be addressed," Richard Rekhy, former CEO of KPMG India

FPJ News ServiceUpdated: Thursday, January 18, 2024, 11:17 PM IST
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Mumbai: Industry Experts Urge Youth Participation In India's Development During JBIMS Event | Vijay Gohil

Underlining that global conditions are favourable for the growth of the country, industry experts have urged youngsters to play their role in making India a developed country.

Speaking at an event titled ‘Opportunities and Obstacles in Post Covid, Conflict Torn World’ at Jamnalal Bajaj Institute of Management Studies (JBIMS), for which the FPJ was media partner, the experts spoke glowingly about various strategic, technological and economic strides taken in the last few years as they sought to project India as a key player on the global stage. 

India as a key player on the global stage

Experts, however, also identified several challenges such as income inequality, poor per capita Gross Domestic Product (GDP), and lack of skill and educational level that may hold back the nation.

Experts during  event titled ‘Opportunities and Obstacles in Post Covid, Conflict Torn World’ at Jamnalal Bajaj Institute of Management Studies (JBIMS),

Experts during event titled ‘Opportunities and Obstacles in Post Covid, Conflict Torn World’ at Jamnalal Bajaj Institute of Management Studies (JBIMS), | Vijay Gohil

Ashish Chauhan, Managing Director and Chief Executive Officer (CEO) of the National Stock Exchange (NSE) said that the country is best placed to take advantage of the rapid technological advances thanks to its young population. He added, “We weren’t even spectators of earlier technological advancements, but now we are at the starting line. China has become older due to its one-child policy and its population is declining. Hence, it’s stuck at a middle-income level. Japan got rich before it became old. The US would have been old had it not been for the Indians migrating there,” he said.

Photo from event titled ‘Opportunities and Obstacles in Post Covid, Conflict Torn World’ held at Jamnalal Bajaj Institute of Management Studies (JBIMS),

Photo from event titled ‘Opportunities and Obstacles in Post Covid, Conflict Torn World’ held at Jamnalal Bajaj Institute of Management Studies (JBIMS), | Vijay Gohil

Need to develop a financing model

Richard Rekhy, former CEO of KPMG India, emphasised the need to develop a financing model to boost the country’s physical infrastructure as well as research and development (R&D). “Currently there’s no financing system for infrastructure. We need to put in place a system for it. We also don’t spend enough on R&D…” Rekhy also pointed out, “We can become a healthcare tourism market but we also need to ensure that common people have health access. We need to have inclusive growth”

Photo from event titled ‘Opportunities and Obstacles in Post Covid, Conflict Torn World’ held at Jamnalal Bajaj Institute of Management Studies (JBIMS),

Photo from event titled ‘Opportunities and Obstacles in Post Covid, Conflict Torn World’ held at Jamnalal Bajaj Institute of Management Studies (JBIMS), | Vijay Gohil

Intaiyazur Rahman, CEO of UTI Mutual Fund, urged the students to fulfil their aspirations and make their careers in the country, as he cited his own example of prospering despite humble beginnings. “My view is that India has already risen. It’s a very vibrant country. We were able to administer 2.2 billion vaccines during Covid. That showed the world how powerful we are,” he said.

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