Must watch video. Discusses Innovation, Start up Entrepreneurship Milieu, Technology and Macro Economics. The video was posted by Arun Jaitley who is the esteemed Finance Minister of India. The guests in the talk include John Chambers, the dude from Cisco. I remember during late 90s and early part of this decade Cisco was the quintessential company in technology especially in networking. Bharati Enterprises promoter Sunil Mittal and of course Mr Doom Nouriel Roubini, Economics Professor at New York University discusses Global Macro. With Vikram Chandra as moderator of the discussion.
Some salient highlights of the talk are as follows
Arun Jaitley: Feels India’s GDP should be 9% in friendlier global environment; Utopian growth rate which can be achieved. Huge incremental FDI to be one of the growth drivers of Indian economy while impetus given to Private Sector. Global Slowdown hit exports in India and Government committed to many reforms across board. Government pushing entrepreneurship atmosphere by encouraging Start Ups among other steps.
Winner of the discussion is John Chambers. He is very bullish on India especially Technology and Innovation. Envisions India as a manufacturing hub. His cameo when he intervened when Arun replied to a question was exemplary with great statistics on how political parties in America came together for a judicious cause.Good analogy but dude this is India. Time 28.23. Focus on broad band sector to boost innovation. “World wants to bet on India” Cisco Invests USD 100 mn in India more to come.
Kamal Nath comes out with some hilarious reasons for not committing to GST bill while Mr Naidu very succinctly perpetuates importance of GST. Arun IS very forthright, honest and funny in refuting some reasons for opposing GST bill as proposed by Kamal. Digital India good but more investments needs to be done.
Mr Doom is not bearish on World Economy is a great thumps up. Economic slowdown around the world with Geo Political risk in Middle East. Lower commodity prices good in a way for India considering India REMAINS a net importer of commodities. Reforms by Indian government esp. GST and Land reforms stuck because of Indian opposition political party. China’s advantage in manufacturing while India in service especially technology.
Sunil Mittal: Government reforms very promising especially in fostering innovation & entrepreneurship spirit but can do more. 100 mn smartphones in Indian hands every year. Next wave in technology in India will come in Products, Design etc.
Will India produce the next Bill Gates/ Marky The Techie (Mark Zuckerberg) or Cisco, Intel will remain to be seen. Its a long way ahead but steps in the right direction have already begun.
Look at Q&A at 50 min
Overall a very good discussion to give a ringside view of environment both at a global level and national level. In the end a Thumbs Up to Arun Jaitley and Indian Government for their great work in fostering innovation in India. For a change one for Indian Media for covering some judicious topics wherein India will benefit and inviting prominent people from Economics and Industry. Vikram Chandra is excellent here in moderating the discussion by including everyone including audience to be part of the discussion. Mr Naidu is excellent in the end coming out with information and facts on his grandeur. He is the leader who brought Hyderabad as a technology hub on global platform.
To end in words of John Chambers 2015 was an excellent year for India while 2016 will be the year when India breaks through