Strategic manufacturing with digital mindset key to propelling economic growth: Uday Kotak

Our Bureau Hyderabad | Updated on March 06, 2021

Uday Kotak

He was addressing the CII Southern Region annual session.

Strategic manufacturing and digital mindset hold the key for propelling the country’s economy, Uday Kotak, President, CII & Managing Director and CEO, Kotak Mahindra Bank, said.

Addressing the CII Southern Region Annual Session, Industry Reset- a Summit on Strategic Manufacturing in the Digital Era organized through Virtual Platform today, he said that the organisations needs to be world-class in the current era to adapt to fast-changing technology and need to have a digital mindset.

He cautioned about the potential of the colonisation of raw material supplies across the world. The country needs to focus on strengthening and improving the quality of skill development initiatives and engineering talent to that high-quality manpower is available to the industry.

Shobana Kamineni, Past President, CII & Executive Vice Chairperson, said, “Now the high priority for the country is how to get the jobs back. As we are celebrating International Women’s Day, we should not forget that the women were worst affected during the pandemic and many of them have lost the jobs. We also lost one year in Education and witnessing high level of nutrition inadequacy among the children.”

Satish Reddy, Chairman, CII Southern Region, said “Private consumption has been the main driver of India's growth contributing about 60% to GDP. It is time to stimulate the economy targeted mostly at the lower and middle-income groups that form bulk of our population. This could primarily be done by improving jobs and livelihood opportunities available to them.”

“A complete reset of the existing policy discourse on jobs needs to be brought back to focus. As we create a coherent vision for India’s place in modern economy, it is important to create a supportive ecosystem and facilitate the vision of ‘Vocal for Local,” Reddy said.

Collaborations and technology transfer will drive the success in future, William L Blair, Chief Executive, Lockheed Martin India said.

Published on March 06, 2021

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