Uday Kotak, Managing Director & CEO of Kotak Mahindra Bank, and the new President of the Confederation of Indian Industry (CII) on Thursday said that the industry body has decided 10 points strategy for the post-Covid India which will prioritise protection of lives and livelihoods.
Kotak said that the industry body will work with the government to save livelihood and getting out from the lockdown smoothly with more focus on healthcare and education.
He added that CII will reprioritise its stance in healthcare, emphasising that investment in healthcare has to go up from the current 1.3 percent of the GDP. He also highlighted that e-edicine and going digital is important.
Other aspects that CII will focus on, will be education and nature and seek ways to go sustainable, he added.
Kotak said that from now on CII will have a medium term outlook for the economy. Citing that India is fortunate on the external account, he said CAD for 2021 is likely to be zero.
Kotak said, though internal fiscal challenges will be an issue, it has to strike a balance between aspirations and protecting business.
He also opined that the COVID Pandemic has impacted individuals, businesses and the government., adding that government will have to spend more on economic package
He said that we need to balance between digital world, e Commerce and nature of jobs etc. This will require that our people get more digital skills.
Kotak appreciated the government in its endeavour on Digital India.
We need to calibrate on physical world and digital market. There is a risk that certain jobs will change forever, Kotak said.
He also laid stress on providing social security, which he said is an important debate which will come up going ahead. – Zee News