hi good afternoon everybody I must thank the organizers for getting
I must thank the organizers for getting
I must thank the organizers for getting me this opportunity to speak to all of
me this opportunity to speak to all of
me this opportunity to speak to all of you here at SU Attica
you here at SU Attica
you here at SU Attica it’s really a good day bright day and
it’s really a good day bright day and
it’s really a good day bright day and I’m so happy to be here with all of you
I’m so happy to be here with all of you
I’m so happy to be here with all of you so when I used to be a young boy like
so when I used to be a young boy like
so when I used to be a young boy like you I used to wonder what is India and
you I used to wonder what is India and
you I used to wonder what is India and what is the future of India I had read
what is the future of India I had read
what is the future of India I had read history in my school I knew India’s a
history in my school I knew India’s a
history in my school I knew India’s a poor country I did not have read it I
poor country I did not have read it I
poor country I did not have read it I could see it
could see it
could see it India was a poor country I used to feel
India was a poor country I used to feel
India was a poor country I used to feel very bad India has been impoverished
very bad India has been impoverished
very bad India has been impoverished even the Kohinoor has been taken away
even the Kohinoor has been taken away
even the Kohinoor has been taken away there’s nothing in India should I
there’s nothing in India should I
there’s nothing in India should I migrate and make my career elsewhere I
migrate and make my career elsewhere I
migrate and make my career elsewhere I used to wonder finally 40 years later I
used to wonder finally 40 years later I
used to wonder finally 40 years later I found an answer and the answer is India
found an answer and the answer is India
found an answer and the answer is India is the future of the world State
so is this just patriotic feeling or
so is this just patriotic feeling or does the data say us something so let me
does the data say us something so let me
does the data say us something so let me share with you my young dear engineers
share with you my young dear engineers
share with you my young dear engineers what the Economist has to tell you about
what the Economist has to tell you about
what the Economist has to tell you about what is India in 1947 when India became
what is India in 1947 when India became
what is India in 1947 when India became independent it was in a sad state of
independent it was in a sad state of
independent it was in a sad state of affairs the debaters eighty or ninety
affairs the debaters eighty or ninety
affairs the debaters eighty or ninety percent of the population is below the
percent of the population is below the
percent of the population is below the poverty line literacy rate was around
poverty line literacy rate was around
poverty line literacy rate was around ten percent with that sort of a baggage
ten percent with that sort of a baggage
ten percent with that sort of a baggage you had to be slow in your growth
you had to be slow in your growth
you had to be slow in your growth strategies India was slow and steady but
strategies India was slow and steady but
strategies India was slow and steady but very strong no revolution no upheaval
very strong no revolution no upheaval
very strong no revolution no upheaval like an elephant carried everybody along
like an elephant carried everybody along
like an elephant carried everybody along on the growth path 1991 attained certain
on the growth path 1991 attained certain
on the growth path 1991 attained certain level of maturity and certain level of
level of maturity and certain level of
level of maturity and certain level of literacy and reduced poverty ready to
literacy and reduced poverty ready to
literacy and reduced poverty ready to gallop started changing the reforms were
gallop started changing the reforms were
gallop started changing the reforms were introduced but in our neighborhood there
introduced but in our neighborhood there
introduced but in our neighborhood there was a global factory industry was
was a global factory industry was
was a global factory industry was suffering within the country and now we
suffering within the country and now we
suffering within the country and now we know our focuses industrialization
know our focuses industrialization
know our focuses industrialization that’s our immediate objective pretty
that’s our immediate objective pretty
that’s our immediate objective pretty much aware seventy years of independence
much aware seventy years of independence
much aware seventy years of independence we are still very young we have a long
we are still very young we have a long
we are still very young we have a long way to go that awareness exists with us
way to go that awareness exists with us
way to go that awareness exists with us but these 70 years have been momentous
but these 70 years have been momentous
but these 70 years have been momentous and I’ll show you how and from 1991 when
and I’ll show you how and from 1991 when
and I’ll show you how and from 1991 when we started the reforms in a bigger way
we started the reforms in a bigger way
we started the reforms in a bigger way we have been growing very rapidly we are
we have been growing very rapidly we are
we have been growing very rapidly we are actually the fastest growing economy
actually the fastest growing economy
actually the fastest growing economy after China in the last 20 odd years but
after China in the last 20 odd years but
after China in the last 20 odd years but we have not been greedy we have not
we have not been greedy we have not
we have not been greedy we have not manipulated our exchange rates we have
manipulated our exchange rates we have
manipulated our exchange rates we have followed a very ethical path we have
followed a very ethical path we have
followed a very ethical path we have built our international reserves and the
built our international reserves and the
built our international reserves and the world respects that India’s
world respects that India’s
world respects that India’s international
international
international are adequate and respectable and the
are adequate and respectable and the
are adequate and respectable and the country is strong but we are aware
country is strong but we are aware
country is strong but we are aware within the country though we have made
within the country though we have made
within the country though we have made progress there are variations in the per
progress there are variations in the per
progress there are variations in the per capita income which is total income of
capita income which is total income of
capita income which is total income of the country divided by population that
the country divided by population that
the country divided by population that variation we are aware we are also aware
variation we are aware we are also aware
variation we are aware we are also aware there are large variations in terms of
there are large variations in terms of
there are large variations in terms of population within the states there are
population within the states there are
population within the states there are states which have very high population
states which have very high population
states which have very high population there are states which have less
there are states which have less
there are states which have less population but as a country we have
population but as a country we have
population but as a country we have grown from 36 Corinne 51 to 121 Carew in
grown from 36 Corinne 51 to 121 Carew in
grown from 36 Corinne 51 to 121 Carew in 2011 that’s a huge population huge
2011 that’s a huge population huge
2011 that’s a huge population huge population but this huge population
population but this huge population
population but this huge population obviously the question is the density of
obviously the question is the density of
obviously the question is the density of population some states have very high
population some states have very high
population some states have very high density like you can see in Bihar and
density like you can see in Bihar and
density like you can see in Bihar and West Bengal other states have low
West Bengal other states have low
West Bengal other states have low density people crowding per square
density people crowding per square
density people crowding per square kilometer but amazing the country is
kilometer but amazing the country is
kilometer but amazing the country is peaceful and coexisting without any
peaceful and coexisting without any
peaceful and coexisting without any problem the literacy rates rapid
problem the literacy rates rapid
problem the literacy rates rapid transformation four-fold increase in 70
transformation four-fold increase in 70
transformation four-fold increase in 70 years from around 18 percent to about 73
years from around 18 percent to about 73
years from around 18 percent to about 73 percent massive growth in literacy state
percent massive growth in literacy state
percent massive growth in literacy state wise there are variations we have Kara
wise there are variations we have Kara
wise there are variations we have Kara on one hand highly literate we have be
on one hand highly literate we have be
on one hand highly literate we have be her on the other suffering lagging
her on the other suffering lagging
her on the other suffering lagging behind but not far behind other
behind but not far behind other
behind but not far behind other indicator of growth is infant mortality
indicator of growth is infant mortality
indicator of growth is infant mortality rate and if you compare it from 81 we
rate and if you compare it from 81 we
rate and if you compare it from 81 we have come a long way one third of it
have come a long way one third of it
have come a long way one third of it there are again variations within the
there are again variations within the
there are again variations within the states but in aggregate massive progress
states but in aggregate massive progress
states but in aggregate massive progress has been made in 70 years
has been made in 70 years
has been made in 70 years still another economic indicator assess
still another economic indicator assess
still another economic indicator assess to safe drinking water and if you
to safe drinking water and if you
to safe drinking water and if you compare again the data for 30 years 81
compare again the data for 30 years 81
compare again the data for 30 years 81 to 2011 you can see a substantial growth
to 2011 you can see a substantial growth
to 2011 you can see a substantial growth and rice has taken place here poverty
and rice has taken place here poverty
and rice has taken place here poverty which I mentioned right in the beginning
which I mentioned right in the beginning
which I mentioned right in the beginning despite the country growing rapidly in
despite the country growing rapidly in
despite the country growing rapidly in terms of population averaging nearly 2.4
terms of population averaging nearly 2.4
terms of population averaging nearly 2.4 percent per year do in the previous
percent per year do in the previous
percent per year do in the previous years it’s come down the growth decadal
years it’s come down the growth decadal
years it’s come down the growth decadal growth rate and annual growth rate has
growth rate and annual growth rate has
growth rate and annual growth rate has come down
come down
come down despite population green the level of
despite population green the level of
despite population green the level of poverty has been reduced for 55 percent
poverty has been reduced for 55 percent
poverty has been reduced for 55 percent to just about 30 percent which in a
to just about 30 percent which in a
to just about 30 percent which in a rapidly moving economy is a very
rapidly moving economy is a very
rapidly moving economy is a very substantial progress I would like to
substantial progress I would like to
substantial progress I would like to mention a very important point here
mention a very important point here
mention a very important point here highly diverse country very secular in
highly diverse country very secular in
highly diverse country very secular in approach all thoughts all religions
approach all thoughts all religions
approach all thoughts all religions thrive in this continent and thrive
thrive in this continent and thrive
thrive in this continent and thrive progressively and here is the data from
progressively and here is the data from
progressively and here is the data from 61 showing that India is a very diverse
61 showing that India is a very diverse
61 showing that India is a very diverse and tolerant country if you look at
and tolerant country if you look at
and tolerant country if you look at state wise data it’s very amazing
state wise data it’s very amazing
state wise data it’s very amazing different states have different
different states have different
different states have different population but on coexisting respect for
population but on coexisting respect for
population but on coexisting respect for all religions festivals celebrated
all religions festivals celebrated
all religions festivals celebrated together cultural events celebrated
together cultural events celebrated
together cultural events celebrated together very diverse but very
together very diverse but very
together very diverse but very respectful the motive being clear unity
respectful the motive being clear unity
respectful the motive being clear unity in diversity different languages
in diversity different languages
in diversity different languages different dressing patterns different
different dressing patterns different
different dressing patterns different food habits but one common market across
food habits but one common market across
food habits but one common market across the country so what is happening in
the country so what is happening in
the country so what is happening in India
India
India what is this emerging country why is
what is this emerging country why is
what is this emerging country why is there so much of interest in this
there so much of interest in this
there so much of interest in this country firstly a very large market
country firstly a very large market
country firstly a very large market large population large middle income
large population large middle income
large population large middle income group large payment capacity high
group large payment capacity high
group large payment capacity high returns on investment obviously high
returns on investment obviously high
returns on investment obviously high growth rate of the economy 7% on an
growth rate of the economy 7% on an
growth rate of the economy 7% on an average for the last decade which is
average for the last decade which is
average for the last decade which is really in view of the global crisis
really in view of the global crisis
really in view of the global crisis really very substantive high investment
really very substantive high investment
really very substantive high investment of nearly 30 percent which Spurs growth
of nearly 30 percent which Spurs growth
of nearly 30 percent which Spurs growth and highly developed financial markets
and highly developed financial markets
and highly developed financial markets too highly developed stock exchanges
too highly developed stock exchanges
too highly developed stock exchanges 5,000 listed companies on each one of
5,000 listed companies on each one of
5,000 listed companies on each one of them and you know the very best
them and you know the very best
them and you know the very best regulators in the world are bi and semi
regulators in the world are bi and semi
regulators in the world are bi and semi and RBI such an effective regulator
and RBI such an effective regulator
and RBI such an effective regulator while they were global crises on banking
while they were global crises on banking
while they were global crises on banking India was totally insulated the country
India was totally insulated the country
India was totally insulated the country is always an election mode either States
is always an election mode either States
is always an election mode either States or the center nothing matters political
or the center nothing matters political
or the center nothing matters political stability regimes come regimes go no
stability regimes come regimes go no
stability regimes come regimes go no problems
problems
problems but there is one disruptive factor which
but there is one disruptive factor which
but there is one disruptive factor which is very disruptive to growth very useful
is very disruptive to growth very useful
is very disruptive to growth very useful and meaningful for growth but
and meaningful for growth but
and meaningful for growth but effectively harms the youth population
effectively harms the youth population
effectively harms the youth population and thatis corruption harms growth
and thatis corruption harms growth
and thatis corruption harms growth something has to be done how do we know
something has to be done how do we know
something has to be done how do we know this corruption look at this indicator
this corruption look at this indicator
this corruption look at this indicator amazing indicator the gross fiscal
amazing indicator the gross fiscal
amazing indicator the gross fiscal deficit global yardstick is 3 percent of
deficit global yardstick is 3 percent of
deficit global yardstick is 3 percent of GDP and up here in our country we run a
GDP and up here in our country we run a
GDP and up here in our country we run a deficit of nearly 8 to 10 percent of GDP
deficit of nearly 8 to 10 percent of GDP
deficit of nearly 8 to 10 percent of GDP and not for two years not for two
and not for two years not for two
and not for two years not for two decades from 1981 onwards really God’s
decades from 1981 onwards really God’s
decades from 1981 onwards really God’s own country why is the deficit so high
own country why is the deficit so high
own country why is the deficit so high the tax revenue is very low worldwide
the tax revenue is very low worldwide
the tax revenue is very low worldwide the tax revenues are about 30 to 36
the tax revenues are about 30 to 36
the tax revenues are about 30 to 36 percent of GDP in some cases 40 percent
percent of GDP in some cases 40 percent
percent of GDP in some cases 40 percent of GDP in other country about 18% of GDP
of GDP in other country about 18% of GDP
of GDP in other country about 18% of GDP why is the text so low people don’t want
why is the text so low people don’t want
why is the text so low people don’t want to pay taxes as simple as that
to pay taxes as simple as that
to pay taxes as simple as that why just look at the statistics on the
why just look at the statistics on the
why just look at the statistics on the screen it’s a mind-boggling statistics
screen it’s a mind-boggling statistics
screen it’s a mind-boggling statistics persons engaged in organized sector 42
persons engaged in organized sector 42
persons engaged in organized sector 42 million individuals filing return for
million individuals filing return for
million individuals filing return for salary income 17 million informal sector
salary income 17 million informal sector
salary income 17 million informal sector individual enterprises in the country 56
individual enterprises in the country 56
individual enterprises in the country 56 million number of returns filed 18
million number of returns filed 18
million number of returns filed 18 million companies registered in the
million companies registered in the
million companies registered in the country 1.4 million
country 1.4 million
country 1.4 million companies filing return half of it
companies filing return half of it
companies filing return half of it companies declaring zero income or
companies declaring zero income or
companies declaring zero income or losses 1/4 of it
losses 1/4 of it
losses 1/4 of it companies declaring profit of less than
companies declaring profit of less than
companies declaring profit of less than 1 crore another quarter 30,000 35,000
1 crore another quarter 30,000 35,000
1 crore another quarter 30,000 35,000 odd countries only tell their profit is
odd countries only tell their profit is
odd countries only tell their profit is more than one core or this is amazing
more than one core or this is amazing
more than one core or this is amazing that’s not just over look at this
that’s not just over look at this
that’s not just over look at this statistics individuals filing tax return
statistics individuals filing tax return
statistics individuals filing tax return 37 million individuals saying I’m below
37 million individuals saying I’m below
37 million individuals saying I’m below the exemption limit 1/4 income between
the exemption limit 1/4 income between
the exemption limit 1/4 income between 2.5 to 5 lakh half of them people above
2.5 to 5 lakh half of them people above
2.5 to 5 lakh half of them people above 5 lakh income 7.6 million in the country
5 lakh income 7.6 million in the country
5 lakh income 7.6 million in the country of which salary paying people are 5.6
of which salary paying people are 5.6
of which salary paying people are 5.6 million something is wrong in the
million something is wrong in the
million something is wrong in the country obviously the sledgehammer had
country obviously the sledgehammer had
country obviously the sledgehammer had to be used and D monetization was
to be used and D monetization was
to be used and D monetization was undertaken 86% of the currency was hit
undertaken 86% of the currency was hit
undertaken 86% of the currency was hit this is not the first time it happened
this is not the first time it happened
this is not the first time it happened earlier in 46 and 78 just not those two
earlier in 46 and 78 just not those two
earlier in 46 and 78 just not those two events almost every decade there have
events almost every decade there have
events almost every decade there have been lots of steps to unearth
been lots of steps to unearth
been lots of steps to unearth unaccounted money no success just
unaccounted money no success just
unaccounted money no success just imagine the country it is 6% of the
imagine the country it is 6% of the
imagine the country it is 6% of the currency hit no revolution no upheaval
currency hit no revolution no upheaval
currency hit no revolution no upheaval people are willing to do more and ready
people are willing to do more and ready
people are willing to do more and ready for two thousand rupee to be demon it
for two thousand rupee to be demon it
for two thousand rupee to be demon it that’s the country willing wishing
that’s the country willing wishing
that’s the country willing wishing praying for a corruption free India year
praying for a corruption free India year
praying for a corruption free India year later economy is back on recovering
later economy is back on recovering
later economy is back on recovering beautiful thing is it has raised
beautiful thing is it has raised
beautiful thing is it has raised awareness I have been writing repeatedly
awareness I have been writing repeatedly
awareness I have been writing repeatedly you cannot have an island of clean
you cannot have an island of clean
you cannot have an island of clean financial system amidst an ocean of
financial system amidst an ocean of
financial system amidst an ocean of corrupt social system there is a need
corrupt social system there is a need
corrupt social system there is a need for an overall eco cleaning in the
for an overall eco cleaning in the
for an overall eco cleaning in the system
system
system that has to be done by all of us the
that has to be done by all of us the
that has to be done by all of us the Chartered Accountants who sign those
Chartered Accountants who sign those
Chartered Accountants who sign those statements the auditors the lawyers the
statements the auditors the lawyers the
statements the auditors the lawyers the bankers religious institutions cultural
bankers religious institutions cultural
bankers religious institutions cultural centers you and me too
centers you and me too
centers you and me too all of us have a role to play in it so
all of us have a role to play in it so
all of us have a role to play in it so the fight against corruption continues
the fight against corruption continues
the fight against corruption continues and goods and services tax according to
and goods and services tax according to
and goods and services tax according to me is a sequence in that it has an
me is a sequence in that it has an
me is a sequence in that it has an excellent cross-country experience it is
excellent cross-country experience it is
excellent cross-country experience it is a simple tax to follow subdues many many
a simple tax to follow subdues many many
a simple tax to follow subdues many many indirect taxes including the octroi it
indirect taxes including the octroi it
indirect taxes including the octroi it harmonizes tax laws so one nation one
harmonizes tax laws so one nation one
harmonizes tax laws so one nation one market one tax rate I think it’s
market one tax rate I think it’s
market one tax rate I think it’s beautiful it’s economically efficient
beautiful it’s economically efficient
beautiful it’s economically efficient distributionally attractive and easy to
distributionally attractive and easy to
distributionally attractive and easy to administer it ensures a wider tax base
administer it ensures a wider tax base
administer it ensures a wider tax base most importantly it will help track
most importantly it will help track
most importantly it will help track unaccounted transactions that to me is
unaccounted transactions that to me is
unaccounted transactions that to me is the most important thing fine 70 years
the most important thing fine 70 years
the most important thing fine 70 years of India last one year of major steps
of India last one year of major steps
of India last one year of major steps for fighting corruption what is the
for fighting corruption what is the
for fighting corruption what is the future like very very bright look at the
future like very very bright look at the
future like very very bright look at the data does not mean the patriotic Indian
data does not mean the patriotic Indian
data does not mean the patriotic Indian this is coming from the IMF the one time
this is coming from the IMF the one time
this is coming from the IMF the one time just imagine the World Bank is saying
just imagine the World Bank is saying
just imagine the World Bank is saying today’s papers India will grow at 7.5%
today’s papers India will grow at 7.5%
today’s papers India will grow at 7.5% next year
next year
next year Indians are saying we will grow to 6.5
Indians are saying we will grow to 6.5
Indians are saying we will grow to 6.5 from 2017 to 18 the world is telling you
from 2017 to 18 the world is telling you
from 2017 to 18 the world is telling you have the potential come on the future is
have the potential come on the future is
have the potential come on the future is so bright about inflation generally
so bright about inflation generally
so bright about inflation generally around 5% which is very good how about
around 5% which is very good how about
around 5% which is very good how about the fiscal story the global heart
the fiscal story the global heart
the fiscal story the global heart stickers the deficits should generally
stickers the deficits should generally
stickers the deficits should generally be less than 3% of GDP and we are very
be less than 3% of GDP and we are very
be less than 3% of GDP and we are very high but the correction that direction
high but the correction that direction
high but the correction that direction is so apparent in 2022 how about the
is so apparent in 2022 how about the
is so apparent in 2022 how about the liabilities that we have incurred in the
liabilities that we have incurred in the
liabilities that we have incurred in the past even now they are in control and in
past even now they are in control and in
past even now they are in control and in the future they will obviously continue
the future they will obviously continue
the future they will obviously continue to be under
to be under
to be under how about the external account again the
how about the external account again the
how about the external account again the data from the IMF and the World Bank the
data from the IMF and the World Bank the
data from the IMF and the World Bank the global yardstick is 2.5 to 3 percent of
global yardstick is 2.5 to 3 percent of
global yardstick is 2.5 to 3 percent of GDP as a current account deficit is
GDP as a current account deficit is
GDP as a current account deficit is healthy and we are within that range and
healthy and we are within that range and
healthy and we are within that range and please remember we are not a
please remember we are not a
please remember we are not a resource-rich country we are not
resource-rich country we are not
resource-rich country we are not petroleum rich we are not Chileans like
petroleum rich we are not Chileans like
petroleum rich we are not Chileans like copper rich we are working hard every
copper rich we are working hard every
copper rich we are working hard every penny on our external account has earned
penny on our external account has earned
penny on our external account has earned through a hard way the most important
through a hard way the most important
through a hard way the most important thing is the human resources we will
thing is the human resources we will
thing is the human resources we will have the largest amount of human
have the largest amount of human
have the largest amount of human resources in a few years from now thanks
resources in a few years from now thanks
resources in a few years from now thanks to the fact that we did not follow the
to the fact that we did not follow the
to the fact that we did not follow the wine child policy what does this really
wine child policy what does this really
wine child policy what does this really mean we are the youngest country in the
mean we are the youngest country in the
mean we are the youngest country in the world in the next few years till 2050
world in the next few years till 2050
world in the next few years till 2050 we’ll have the largest workforce and the
we’ll have the largest workforce and the
we’ll have the largest workforce and the reservoir of people below the age of 15
reservoir of people below the age of 15
reservoir of people below the age of 15 will be also amongst the largest that we
will be also amongst the largest that we
will be also amongst the largest that we will have in our country we will be
will have in our country we will be
will have in our country we will be driving everything that the world needs
driving everything that the world needs
driving everything that the world needs so a country which had a golden past the
so a country which had a golden past the
so a country which had a golden past the Indus Valley Civilisation the richest on
Indus Valley Civilisation the richest on
Indus Valley Civilisation the richest on the planet timeless Vedas fountain of
the planet timeless Vedas fountain of
the planet timeless Vedas fountain of knowledge and the richest country of the
knowledge and the richest country of the
knowledge and the richest country of the world in 80 0 accounting for 33% of
world in 80 0 accounting for 33% of
world in 80 0 accounting for 33% of world GDP for next 1,100 years we were
world GDP for next 1,100 years we were
world GDP for next 1,100 years we were accounting between 20 and 25 percent one
accounting between 20 and 25 percent one
accounting between 20 and 25 percent one single country accounting for 20 to 25
single country accounting for 20 to 25
single country accounting for 20 to 25 percent one-fifth to one-fourth of world
percent one-fifth to one-fourth of world
percent one-fifth to one-fourth of world GDP unfortunately when you are so rich
GDP unfortunately when you are so rich
GDP unfortunately when you are so rich plunders plunderers will come and rob
plunders plunderers will come and rob
plunders plunderers will come and rob you and that’s exactly what happened
you and that’s exactly what happened
you and that’s exactly what happened in 1947 when the Brits went away and
in 1947 when the Brits went away and
in 1947 when the Brits went away and probably because they found they have
probably because they found they have
probably because they found they have already plundered enough India’s
already plundered enough India’s
already plundered enough India’s contribution to world GDP was around
contribution to world GDP was around
contribution to world GDP was around three percent thirty three percent ad
three percent thirty three percent ad
three percent thirty three percent ad zero three percent nineteen forty seven
zero three percent nineteen forty seven
zero three percent nineteen forty seven but within seventy years of Independence
but within seventy years of Independence
but within seventy years of Independence when we are back to self-governance
when we are back to self-governance
when we are back to self-governance there is no international fora which can
there is no international fora which can
there is no international fora which can afford to make a policy decision without
afford to make a policy decision without
afford to make a policy decision without India being there if they have the
India being there if they have the
India being there if they have the Silicon Valley we have Bangalore and
Silicon Valley we have Bangalore and
Silicon Valley we have Bangalore and Hyderabad
Hyderabad
Hyderabad we have jennae such a rich demographic
we have jennae such a rich demographic
we have jennae such a rich demographic dividend that we have is waiting in the
dividend that we have is waiting in the
dividend that we have is waiting in the wings to flourish so what are the
wings to flourish so what are the
wings to flourish so what are the important factors that make India a
important factors that make India a
important factors that make India a desired destination according to me if
desired destination according to me if
desired destination according to me if you look at India’s history four four
you look at India’s history four four
you look at India’s history four four four four to five thousand years
four four to five thousand years
four four to five thousand years including the Indus Valley Civilisation
including the Indus Valley Civilisation
including the Indus Valley Civilisation it is strategic thinking and medical
it is strategic thinking and medical
it is strategic thinking and medical planning Chanakya sir Janaki open to
planning Chanakya sir Janaki open to
planning Chanakya sir Janaki open to ideas trade debate and discuss the ports
ideas trade debate and discuss the ports
ideas trade debate and discuss the ports are open the sea route is open the silk
are open the sea route is open the silk
are open the sea route is open the silk route is open open to ideas respecting
route is open open to ideas respecting
route is open open to ideas respecting others building consensus being aware of
others building consensus being aware of
others building consensus being aware of the PISA but eating a paratha always
the PISA but eating a paratha always
the PISA but eating a paratha always alert and well prepared look at the
alert and well prepared look at the
alert and well prepared look at the financial sector of India with a VD
financial sector of India with a VD
financial sector of India with a VD financial sector of the rest of the
financial sector of the rest of the
financial sector of the rest of the world and as I just mentioned
world and as I just mentioned
world and as I just mentioned respectful to diverse religions culture
respectful to diverse religions culture
respectful to diverse religions culture and ideology you have the leftist and
and ideology you have the leftist and
and ideology you have the leftist and you have the rightness all existing
you have the rightness all existing
you have the rightness all existing together in a single country running
together in a single country running
together in a single country running governments parallel
governments parallel
governments parallel at the same time most importantly my
at the same time most importantly my
at the same time most importantly my young friends the self-confidence that
young friends the self-confidence that
young friends the self-confidence that Indians had is unparalleled I would like
Indians had is unparalleled I would like
Indians had is unparalleled I would like to invite you to google and see the
to invite you to google and see the
to invite you to google and see the story of capital account convertibility
story of capital account convertibility
story of capital account convertibility while the rest of the world was opposing
while the rest of the world was opposing
while the rest of the world was opposing us in the Reserve Bank saying that
us in the Reserve Bank saying that
us in the Reserve Bank saying that capital account convertibility is
capital account convertibility is
capital account convertibility is important India was the lone country
important India was the lone country
important India was the lone country which said no until we are ready for it
which said no until we are ready for it
which said no until we are ready for it today 20 years later multinational
today 20 years later multinational
today 20 years later multinational multilateral institutions have agreed
multilateral institutions have agreed
multilateral institutions have agreed tapped account convertibility has to be
tapped account convertibility has to be
tapped account convertibility has to be conditional that self confidence in what
conditional that self confidence in what
conditional that self confidence in what we do and how we do the second example
we do and how we do the second example
we do and how we do the second example is derivatives and you should google and
is derivatives and you should google and
is derivatives and you should google and see how India fought the Battle of
see how India fought the Battle of
see how India fought the Battle of derivatives so very hardworking
derivatives so very hardworking
derivatives so very hardworking population irrespective of the
population irrespective of the
population irrespective of the ideologists thousands of fields regime
ideologists thousands of fields regime
ideologists thousands of fields regime to search that’s the most important
to search that’s the most important
to search that’s the most important thing while India is on the expansionary
thing while India is on the expansionary
thing while India is on the expansionary zone regional cooperation mutually
zone regional cooperation mutually
zone regional cooperation mutually expansion airy markets look east look
expansion airy markets look east look
expansion airy markets look east look Central Asia strengthen relations with
Central Asia strengthen relations with
Central Asia strengthen relations with neighbors incidentally the plunderers
neighbors incidentally the plunderers
neighbors incidentally the plunderers are shrinking by every day out of
are shrinking by every day out of
are shrinking by every day out of respect I foresee a United States of
respect I foresee a United States of
respect I foresee a United States of South Asia or at the least a monetary
South Asia or at the least a monetary
South Asia or at the least a monetary union like euro with a single currency
union like euro with a single currency
union like euro with a single currency where India plays a pivotal role so I
where India plays a pivotal role so I
where India plays a pivotal role so I would like to conclude by saying India a
would like to conclude by saying India a
would like to conclude by saying India a vibrant and democratic country is the
vibrant and democratic country is the
vibrant and democratic country is the future of the world
future of the world
future of the world come join us thank you
come join us thank you
come join us thank you [Applause]
”
Be First to Comment