Q. Indian economy is witnessing a boom time and GDP rate is also soaring. Do you believe India has finally arrived on the big stage?
A. Yes, it is true, and from here onwards, things are likely to get better. India will start moving upwards from next six months.
Q. Do you think India’s model of growth and development matches with that of countries in developed world?
A. I do not think we can match the models of developed countries. However, India has its own demographic strength so it will grow in its own way. If political environment improves, India can grow fast and might reach nine per cent GDP growth.
Q. As per the demographic projections, India will contribute two-thirds of the global workforce in next 15 years. How should the potential of youth be tapped?
A. It is true but still youth in India need to focus on engineering field and lot of growth is expected in the service sector. India is going to spend a lot of money on infrastructure that will create jobs across the sectors. We have been facing problem of unskilled manpower in India over a period of time, and that needs to be addressed. We have to focus more on automisation.
Q. What are the fast growing sectors that provide maximum opportunities for employment?
A. Infrastructure and service sector are expected to create the maximum employment opportunities.
Q. Even with unprecedented economic growth, there are still millions of Indians who cannot afford square meals a day. How can this disparity be bridged?
A. The government scheme of direct cash transfer is likely to change the scenario. All the bottlenecks in government systems would go away, which will deliver the money to needy people. With growth in infrastructure sector, the jobs will be automatically created and we can reduce the disparity.
Q. What is your take on the recurrent global economic meltdown? How far is it going to affect developing economies?
A. It is really painful for emerging countries because they are suffering due to the wrong policies of developed countries. A decade down the line, BRIC countries and emerging countries will be strong and importance in global trade will increase, helping in negotiating with developed countries.
