14th March: The Delhi edition of YES BANK and CNBC-TV18’s – The Growth Summit: A Vision to a $10 Trillion Economy, in association with Max Life Insurance, was organised on Wednesday. The summit brought together policymakers, industry leaders, startup founders, and a diverse range of experts to engage in substantive discussions regarding India’s economic growth. The primary focus of the summit centred on the government’s ambitious 25-year plan aimed to position India as the world’s third-largest economy, boasting a GDP of $10 trillion.
A spokesperson from CNBC-TV18 extended a warm welcome to the attendees, moving to the opening remarks by Prashant Kumar, MD & CEO of YES Bank. “In the last few years, we have witnessed large investments in the infrastructure landscape, taking the country to the next-level. India has come out as a strong force with all the headwinds happening around the world, and to continue that, we need to remain self-insulated and self-reliant. Moving towards becoming the third largest economy is not enough; the ultimate goal should be that every Indian benefits from this growth. It is crucial for all of us to work collaboratively and focus on areas including—inclusivity with growth, manufacturing, boosting exports, supporting MSME and the startup ecosystem and funding innovation. The involvement of the government and private sector together is the key to achieving the $10 trillion economy plan.”
During his address, Mr Kumar announced the launch of ‘Yes Private’ in Delhi, which is the Bank’s newest market offering that aims to partner HNI Business owners and C-Suite executives in their endeavour to leverage the opportunities on the road towards a $10 trillion Indian economy.
The event kicked off with a fireside chat on ‘Leading from the front: How to Live up to your Strategic Vision’ in conversation with Mr Suresh Narayanan, CMD, Nestle India he said, I feel fortunate to be a part of a 160-year-old company that values providing experiences to people, not just selling products. Nowadays, digitisation has levelled the playing field for everyone, and e-commerce and AI are helping us plan better. However, with tech being such a driving force presently, we need to utilise it responsibly and remember technology is here to serve mankind and not the other way around. Lastly, trust, empathy and compassion are not just buzzwords and the long-lived companies are going to be those where this five letter ‘TRUST’ is placed in everything they do.” The discussion was moderated by Ms Sheeren Bhan, Managing Editor, CNBC-TV18.
The event continued with another interesting thought-provoking discussion on ‘Unveiling Indian Healthcare as a Model of Growth & Excellence’ in conversation with Dr Naresh Trehan, Executive Chairman, Medanta he stated “Every person in India deserves access to decent healthcare. With the introduction of the Ayushman Bharat scheme, the industry has extended a lifeline to over 500 million individuals who were previously left out of the healthcare facility. It’s surprising to admit that healthcare expenses alone are driving 2 to 4% of our population below the poverty line each year. Considering the extent of our nation’s growth, with a population increasing by 25 million annually, the challenge before us is immense, but the steps taken by the current government through Ayushman Bharat have provided immense relief.”
Subsequently, there was another fireside chat on ‘Betting Big One on India: Identifying New Growth Opportunities’, Mr Sunil Vachani, Chairman, Dixon Technologies.
The fireside chat was followed by a special address by Mr. Prashant Tripathy, MD & CEO, Max Life Insurance. He said, “In India’s pursuit of becoming a $10 trillion economy, visionary policy initiatives stand as cornerstones of inclusive growth. From pioneering financial inclusion schemes and the development of robust digital infrastructure to the progress of our vibrant start-up ecosystem- these collective endeavours underscore the remarkable journey we’ve undertaken as an economy in the last decade. As we stride forward, India must prioritize policies that foster innovation, technological advancement, tackle income inequality, and promote sustainable development practices. These critical areas demand our unhindered focus, as we inch towards an economy that unlocks sustained development for one and all.”
The evening continued with an engaging panel discussion on ‘Facilitating the Emerging Stars of Indian Business’ with insights from industry experts Mr Akshay Ghulati (Co-founder & COO, Shiprocket); Mr Anirudh Arun (Co-founder, CEO, BluSmart Fleet) and Mr. Ish Babbar (Cofounder & CTO, Insurance Dekho).
The evening continued with an engaging conversation with Virendra Sehwag, Former Indian Cricketer. Talking about how the Indian team can bring home the World Cup, he said, “We need to play it like a knockout match, be brave and fearless and most importantly, make the right decision on the field. India has never lacked talent; we need to play aggressive cricket and not worry about winning.”
Concluding the summit was a thought-provoking session conducted by Kumaar Bagrodia, leading Neuroscientist & Founder of NeuroLeap, on ‘The Neuroscience of Investing’.
The Delhi edition of ‘The Growth Summit – Vision for a $10 trillion Economy’ underscored India’s trajectory towards economic prosperity as industry leaders and experts converged to chart a path towards a $10 trillion economy. The next edition of the summit will be held in Hyderabad on 15th March,2024.
