Don’t Miss Golden Chance to Change Growth Orbit
manufacturer to the world.
Negotiate trade agreements better by leveraging our trade deficit. We need to target trade deficit with Chinabyseekingreciprocalimports. We should grab opportunities like soybean exports to China as they have levied tariff on import from the US. India is likely to lose some of the trade concessions under WTO as it surpasses a certain level of per capita GDP. We must retain those concessions by highlighting the wide divergence between rich states like Delhi and Goa and poor states like Bihar and Uttar Pradesh.
We need to capture the opportunity of being part of supply chain as the future is full of disruption due to the “BLAIQ-NET” being created by four convergingtechnologytrends:‘block chain supremacy’, ‘AI supremacy’, ‘quantum supremacy’, and ‘solar supremacy’.Together,thefoursupremacy technologies are driving down ownership, increasing virtualisation and decentralisation, and reducing production costs.
In a growing number of industries, themarginalcostof productionisapproaching zero. Ultimately, the “BLAIQ-NET” will drive a real-time economy, where billions of automated nano transactions are executed faster than the blink of an eye.
Accountability will come from the block chain. Automation will be performed by artificial intelligence, and optimisation will be achieved via quantum computing.
We need to be there at the cutting edge of technology by being part of the global supply chain.
With GST, insolvency law, cleaning up of NPAs, infrastructure investments and digitisation of the economy, we have laid the foundation for a sustainable future growth.
Weneedtocapturethisopportunity asBangladeshwhosepercapitaGDP was 41% lower than India in 2011 is likely to surpass our per capita GDP in 2020. There will be no fun competing against Nepal and Afghanistan.
(The author is MD, Kotak Mahindra Asset Management)