Uday Kotak, MD and CEO of Kotak Mahindra Bank and President, Confederation of Indian Industry was the guest at ThePrint’s Off the Cuff. In a conversation with ThePrint’s Editor-in-chief Shekhar Gupta, Kotak said India needs to spur private investment after years of disproportionately relying on government expenditure for economic growth. Kotak firmly opposed waiving off interest on loans under moratorium pointing out that this will mean that even depositors are not paid interest for their deposits. Kotak said he interprets Prime Minister Narendra Modi’s call of an AtmaNirbhar or self-reliant Bharat to mean a competitive India engaged with the world and not necessarily protectionism. He also made a case for India to target a sustainable medium-term growth.
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