It would be wise to be bullish on Indian economy as the country has huge potential in its human capital, said Tata Consultancy Services (TCS) CEO & MD N Chandrasekaran here on Saturday.
He was delivering his keynote address at the 4th National Finance Conclave of the School of Management of the KIIT University (KSOM) on theme”Indian economy: Can the good times be backIJ”
“Our fundamental strength for the next decades is the talent that we have, and the country’s huge working population will make critical contributions in various sectors,” he said. While India’s short term concern is the depreciation of the rupee, slowing economic growth is the key concern in the long term, he said, adding that a transformation can be brought about by technology and investments in critical sectors.
He stated that industries have grown phenomenally in the last 20 years. During the last decade, industries have contributed significantly in terms of exports which at present stands at $ 85 billion. All emerging markets, India, China and Brazil, have shown incredible growth, he said and attributed the present crisis to a global slump in demand.
The conclave had a panel discussion by several experts. The panelists focused on three significant problems that the country is dealing with: external vulnerability, high gold imports widening the CAD and better market sentiments outside causing capital flight. Ensuring ease of doing business, better management of external factors, improvement of regulatory and policy environment and improving the educational system were some of the measures suggested. Earlier, Founder of KIIT & KISS Dr Achyuta Samanta welcomed the dignitaries to the conclave.