'If there's a Time to be Optimistic about India, it's NOW'


Railway Minister Suresh Prabhu spoke about opportunities for infrastructure investment and stressed on the need of trillion dollar investment to spur global growth

The three day economic conclave, Growth Net Summit 2015, a joint initiative of the Ananta Centre and Smadja & Smadja was held at the Taj Palace Hotel in New Delhi from March 25-27, 2015.

The summit began with the keynote address by Finance Minister Arun Jaitley, who spoke about the impressive growth in India’s economy and slew of measures taken by the NDA government.

“Growth and poverty eradication is at the heart of the roadmap of India’s success. Agro, manufacturing and infrastructure are priorities. There must be healthy competition among states to enable ease of doing business,” FM Arun Jaitley said.

Talking on the innovative schemes devised by the Modi government, he highlighted the smart city project and emphasised the importance of the public-private partnership for the economic growth of India.

Smadja & Smadja President Claude Smadja was upbeat about India and its remarkable progress. “If there’s a time to be optimistic about India, it’s now. Great time for hope and optimism for India as there has been tremendous progress with the new government,” he said.

Railway Minister Suresh Prabhu spoke about opportunities for infrastructure investment and stressed on the need of trillion dollar investment to spur global growth. “The world has enough resources and money challenge is to make resources available where need lies. The last few years have seen a decrease in the rate of growth and productivity in emerging economies,” he said.

Stressing on the importance of technological innovation to boost economic growth, Lok Sabha MP Shashi Tharoor said that India should go beyond ‘frugal invention’ and focus on undertaking more original research.

“We have not gone beyond ‘frugal innovations’, though it has led to Indian companies doing some serious research in coming up with products that not only have improved on the existing ones but also cater to international markets,” he said.

The Union Minister of Communication and Information Technology Ravi Shankar Prasad highlighted the importance of digitisation. “Digital India is designed to empower the talent present in India. It is about digital empowerment of people and it has also made e-commerce a reality; smartphone literate is the new way. The initiative will ignite commerce but the real change is that it will empower the barber, mechanic shopkeeper,” Ravi Shankar Prasad said.

‘Modi Magic’: Attracting Leading Economies?

An interesting session was held on the subject - ‘Modi Magic’ and how it might have impacted India and its economy.

The discussion was moderated by the senior journalist Swapan Dasgupta. “Often in India, we find that it’s really a crisis that brings out creativity in politics. One of the problems we face is whether to look at the Indian economy singularly or to look at states individually,” he opined.

“Technology can’t be interesting if it doesn’t affect the lives of people living with $2 a day,” Congress MP Sachin Pilot said.

Referring to the emerging ‘Modi Magic’ that has gradually attracted the attention of the leading economies, Foreign Affairs Minister Sushma Swaraj said, “Commerce wings of Indian missions abroad have been reenergised to promote the ‘Make in India’ initiative.”

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Alankar Srivastava

Alankar Srivastava

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