Don’t Miss Golden Chance to Change Growth Or­bit

The Economic Times - - Money -

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)

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.