It would be wise to be bullish on the Indian economy as the country has huge potential in its human capital, Chief Executive Officer of Tata Consultancy Services, N Chandrasekaran has said.
“Our fundamental strength for the next decades is the talent that we have. Huge working population will make critical contributions in various sectors,” Chandrasekaran said at the 4th National Finance Conclave held at KIIT University’s School of Management here yesterday.
While India’s short term concern is devaluation of rupee, slowing economic growth is a key concern for the long term, said Chandrasekaran, adding that a transformation can be brought about by technology and investments in critical sectors.
Highlighting the positive side, he said domestic industries have grown phenomenally in the last 20 years and contributed significantly in terms of the country’s exports which at present stands at $85 billion, he said.
All emerging markets — India, China and Brazil — have shown incredible growth, the TCS Chief said, attributing the present crisis to a global slump in demand.
The conclave had an engaging panel discussion, which featured, among others, H K Pradhan, Senior Professor, XLRI and Paresh Gupta, CFO, Jubilant Biosys, said a release issued by KIIT University.
The panellists focused on three significant problems that the country is dealing with — external vulnerability, high gold imports widening the CAD and better market sentiments outside causing capital flight.
Ensuring ease of doing business, better management of external factors, improvement of regulatory and policy environment and improving the educational system are some of the measures to bring the economy back to the growth trajectory, it said.