The CEO of NITI Aayog, Amitabh Kant shares his predictions for 2020 and beyond. He mentioned that these are the most challenging times around the world because the slowdown is severe. The global economy has lost over 12 trillion dollars. With so many active cases and deaths, global growth is on the decline and it will impact lives and livelihoods.
Talking to the audience virtually, he said, the challenge is what do we do? We have the twin priority of saving lives and livelihoods in our country. Our first policy response was to protect the vulnerable. The poorest of the poor and government came up with ideas of distributing essentials to the people and we directed direct payments of 1.78 billion. The government also introduced one nation and one ration scheme.
He shared, the Prime Minister came out with ‘Atmanirbhar Bharat’ and the idea was to make India an integral part of the global supply chain and using the domestic as a springboard for exports.
There are three components of ‘Atmanirbhar Bharat’. The first is to protect the vulnerable, second to initiate the economic relief package and third is to execute the major economic reform package. Atmanirbhar Bharat worked on five pillars such as economy, infrastructure, system, vibrant demography, and demand.
Manufacturing as a boon
The citizens of India believe that the country should become a great market. The vision of the current government is in line with India’s growth. The Niti Aayog CEO boasts about the country as a manufacturing hub and with more and more production in India, the companies will get extra incentives. He also said that the country is focused on enhancing manufacturing with size and scale.
He highlighted, as India grows and expands, we will focus on quality and excellence we will drive more and more of economic reforms with a single-minded pursuit of resilience, reforms, and growth which is necessary for India.
He concluded by saying, “We will focus on a new era of growth such as healthcare, manufacturing, Make ourselves data intelligent and move tech for the greater good.”
The speaker was sharing his views on the topic ‘All clouds have a silver lining’ at People Matters TechHR conference.