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Indian Manufacturing – The Challenge and The Opportunity

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By Geetanjali Kirloskar Today, the Indian manufacturing sector, at $600 billion, accounts for 17% of a $3.5 trillion economy. If Indian manufacturing addresses its challenges, growth opportunities are enormous. Economists and planners agree that the manufacturing sector must rise to 25% of the economy if India is to reach its target of a $30 trillion Viksit Bharat economy by 2047, making it a $8 trillion economy behemoth by then. Over the shorter term, the target is for the Indian economy to reach $10 trillion by 2035. Even if manufacturing's share of the Indian economy rose to 20% by then, it would be a $2 trillion economy - a decade growth opportunity of more than 200%. There are four areas in the manufacturing sector that it should focus on if it were to transform its challenges to harness the opportunity. The first is that Indian manufacturing must become more productive and produce better quality goods cost-effectively, enabling it to capture a higher share of private final co...
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Innovation, Investment, and Infusion: India's Path to Viksit Bharat by 2047

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  India needs to progress on many dimensions to attain its goal of Viksit Bharat by 2047. As per World Bank's recent white paper titled "World Development Report 2024", there are three dimensions along which a developing economy is to grow, escape the middle-income trap and become a developed country with an average per capita income of its citizens approaching the level in today's developed nations. These three dimensions are Investment, Infusion and Innovation. A large & diverse country like India must progress on all three dimensions simultaneously.  Further, Innovation is a multi-dimensional phenomenon.  It must function on all 4 domains – science & technology, economics & business, society & governance, art & culture.  It must be both disruptive & accretive in each domain.  While we seek disruptive and accretive innovations that will make India a technological and economic superpower, we must also ensure India shows the world that pr...
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Swallowing the Sun

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L to R: Author Anita George; Chief Guest Geetanjali Vikram Kirloskar; Former Diplomat Ambassador & now the celebrated author of ‘Swallowing the Sun’ Mrs Lakshmi Puri, and Athlete Anju Bobby George. I must admit I am a little humbled sharing the stage with you Lakshmi, yet grateful to have this opportunity of engaging here with a personality who has not only achieved a lot, but is also a friend - for whom I deeply care for, & respect (as did Vikram). Lakshmi Puri.  A distinguished diplomat, former Ambassador, in leadership positions at the UN, leader in the first global organization to promote gender equality, recipient of the Eleanor Roosevelt Award for Human Rights, & others.  And, Now an author who has earned literary acclaim with her debut novel “Swallowing the Sun”.  But as I said before, to me above & beyond, a friend. Some people's grace transcends intimacies, niceties, or, as you Lakshmi yourself put it, "the pantomime of diplomacy." Lakshmi I remem...
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Road to developed economy: Country needs to foster a strong synergy between urban and rural India

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The Viksit Bharat initiative aims to elevate the average income of 1.5 billion Indians to match that of developed nations by 2047. India's urban population is expected to grow from 34% in 2018 to 40% by 2030, while the rural population will see a slight decrease. To achieve developed status, a strong synergy between urban and rural areas is essential.  By Geetanjali Vikram Kirloskar Viksit Bharat's goal is for the average income of 1.5 bn Indians to be comparable to that of the world's developed nations by 2047. India's urban population will increase from 34% of its total population (470 mn) in 2018 to 40% (600 mn) by 2030. During the same period, its rural population is projected to decrease from 920 mn in 2018 to 900 mn in 2030, a 2.17% dip. For India to become a developed economy, we need to foster and maintain a strong synergy between urban and rural India. While the key objective of the National Industrial Corridor Development Programme (NICDP) is to make India a g...
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The Xurbia Revolution: Bridge to a Developed India

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According to projections for rural and urban productivity, by 2030, urban India will account for 70% of GDP. India targets to become a developed nation with a $26 tn economy by 2047. Rural productivity must grow from 50% of urban productivity today to at least 75%. Also, quality of life across urban and rural India must also transform. By Geetanjali Kirloskar I enjoy the time I can get away from the hub-hub of the city. On my way to the mountains, I find the small towns I pass through pleasurable and realize they are a gateway from the bustle of the city to the rural bucolic. A critical difference between the developed and developing worlds is the level of urbanization. While 75% of the developed world's population is urban, the number in the developing world is 45%. Despite its rapid economic growth over the last two decades, in 2022, only one out of three Indians lived in an urban area. The United Nations projects that by 2030, the percentage of Indians living in urban areas ...
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The Changing World of Insurance: Opportunities and Challenges

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By Geetanjali Vikram Kirloskar  Change is coming to the insurance business, which will be even more pronounced in India. The societal perception of risk has increased over the last few decades, driven by natural calamities, accidents, machinery failures in an increasingly automated world, cyber threats and illnesses. While this increased risk perception can be seen as an opportunity for the global insurance industry, it also calls for the industry to reinvent itself before Big Tech, armed with increasingly powerful AI, disrupts the industry. In India, the insurance industry faces a turbo-charged opportunity and challenge. Indian society and economy will undergo a paradigm shift over the following decades. We will go from a low-income to a middle-income country in a decade, and if we stay on our current trajectory, we will be a high-income country in the next three decades. Projections are that affluent households with annual incomes over Rs 30 lakhs in today's money that can afford...
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“You are potentially India’s greatest generation”: Geetanjali Vikram Kirloskar

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Bengaluru, India: Bengaluru's prestigious Rashtreeya Vidyalaya College of Engineering, known affectionately as RV College of Engineering (RVCE), recently marked a significant milestone with its graduation day ceremony for postgraduate students. Established in Bangalore, India, in 1963, the institute has long been renowned for its academic excellence and contribution to the field of engineering. The ceremony culminated years of hard work and dedication and was a moment of inspiration and reflection as the graduates prepared to embark on their professional journeys. Among the notable highlights of the event was the commencement speech delivered by Geetanjali Vikram Kirloskar, a distinguished figure in the Indian industrial landscape. Addressing the gathering, Mrs Kirloskar drew attention to India's demographic advantage on the global stage. "As we all know, India has the fastest-growing youth population in the world. I am hopeful and confident that this demographic divi...
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