IN THE RUN-UP TO THE UNION BUDGET, the Narendra Modi government has been meeting experts, economists, and industrialists. In one such meeting organized by the Niti Aayog on June 22 — where PM Narendra Modi was present —, three industry leaders were invited to make presentations on the “road ahead”.
Vedanta founder ANIL AGARWAL was one of them (the other two being Tata’s N. Chandrasekaran, and ITC’s Sanjiv Puri). Agarwal later spoke to BW Businessworld’s SUMAN K. JHA on what he thinks are the measures required to revive the economy. Excerpts:
How did the meeting with the PM and Niti Aayog go?
The meeting was called by Niti Aayog Vice-Chairman Rajiv Kumar and CEO Amitabh Kant to present a roadmap to the Prime Minister on healthcare, jobs, education, among other things, in the run-up to the Union Budget. I spoke about our imports, currently valued at $400 billion dollars, which can easily go up to $1 trillion.
Do we really need to import that much? We have the best human resources, technical expertise, and abundant natural resources. For instance, we are the third richest in coal — why import coal then? There are enough funds available globally and India is uniquely placed to attract that. We need to create enabling conditions and undertake, for instance, labor reforms.
If we increase our oil production from one million barrels a year to two million barrels and produce 300 tonnes of gold, our current account deficit (CAD) will go.
We should not flout environmental laws — for I believe, it’s of utmost importance. Other than this, no other permissions should be required. PM Modi has said, and I have long maintained, that the government has no business to be in business. What must, however, be ensured is that there are no job losses or retrenchments (while the government is divesting).
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Is Leadership Without Hierarchies Possible?
LEADERSHIP IN THE current era is more challenging than ever before.
The Rise and Evolution of Coffee Culture in India
AS A BANGALORE native, South Indian filter ‘Kaapi’ has always been a significant part of our tradition.
The Daily Ground Goes Desi
Success in Tier-2 and Tier-3 cities hinges on several key factors, with one of the most important being the ability to offer high-quality products at an accessible price point
Cracking The Indian Code
TARUN JAIN, CEO of Tim Hortons India believes in creating an experience at cafes by blending global quality, local flavours and affordability
Making Coffee the New Chai in India
Affordable, great-tasting coffee made fast-abCoffee is reshaping how India drinks coffee
Scripting A New Era Of Coffee In India
From a bootstrapped startup to international expansion, NOTHING BEFORE COFFEE is brewing its way to the top by challenging the giants of the coffee industry with innovation, personalisation, and sustainability
"Driven By A Younger Demographic, Coffee Culture Is On The Upswing"
SUNIL D'SOUZA, Managing Director and CEO of Tata Consumer Products, discusses the company's strategic growth in India's booming coffee market, focusing on premiumisation, innovation, and expanding consumer experiences both at home and in cafés, in this exclusive conversation with BW Businessworld's Tarannum Manjul
Fresh Brew, Big Ambitions
From startups to stores, Beanly's Samayesh Khanna and Rahul Jain elevate India's coffee culture by making freshly brewed coffee a daily delight
"On Track To Become India's Top Café Chain"
In an exclusive interview, RAJAT AGRAWAL, CEO of Barista Coffee, shared insights on the company's current market position, expansion strategies, and its response to growing competition
"Ensuring A Seamless Coffee Experience Outside The Cafe Is The Next Big Thing To Watch Out For"
In an exclusive conversation with BW Businessworld's Resham Suhail, Third Wave Coffee CEO RAJAT LUTHRA and its Co-founder AYUSH BATHWAL delve on how they are navigating the competitive landscape, going beyond retail and tapping changing consumer preferences