The Growth Net Concludes with Optimism on Emerging Economies
The Growth Net 2015, an annual economic conclave organized by the Ananta Centre and the Smadja and Smadja Strategic Advisory, concluded today having brought together thought-leaders from across the new growth countries in Asia, Africa and Latin America.
The Summit witnessed several panel discussions that lead to valuable insights on prevailing economic and societal issues such as water scarcity, frugal innovation, entrepreneurship and the rise of non-business risks which are impacting business across the world.
The conclave also featured key cabinet ministers including Mr. Arun Jaitley, Ms. Sushma Swaraj, Mr. Suresh Prabhu, Mr. Piyush Goyal, Mr. Ravi Shankar Prasad and Mr. Rajiv Pratap Rudy to elucidate the vision of the Mode government and the progress made so far towards reviving growth in India. Mr. Ajit Doval, National Security Advisor also delivered a keynote speech on ‘re-thinking national security’ on the third day which shone light on integrated approach of the government to fulfill India’s potential to be a global leader.
Speaking at the closing plenary session, Mr. Claude Smadja, President of the Smadja and Smadja Strategic Advisory said “New growth countries need agile governance without the baggage of past regulations which are dangerous for the economy and must not neglect the agriculture sector which is a significant source of growth. There should also be a strong effort to reduce the wealth gap and ensure there is a system for wealth distribution for the population. ”
Outlining the five priority areas for new growth countries he said “The implementation of inclusive polices, faster adoption of new technologies and connecting the growing middle class segment to the markets” would go a long way in ensuring that the economic growth is sustainable in the long term.
Mr. Uday Kodak, Executive Vice Chairman and Managing Director, Kodak Mahindra Bank said “India should not take the fall in oil prices for granted and should instead focus on investing on alternate sources of energy. It is important that India does not depend disproportionately on the supply or demand of any one commodity. The focus of the government should also be on defining clear objectives in terms of governance and competitiveness.”
Mr. NK Singh, Rajya Sabha MP and Chairman Steering Committee, The Growth Net Summit said that “It is crucial for India to foster a culture of innovation and risk taking.” Speaking about the roadmap ahead for the new growth countries he said “the patterns of development have to be chosen well keeping in mind crucial impact factors such as complacency in energy policies and pollution. The emerging market countries would be wise to follow a model set for the future than a model that succeeded on the past. “
More than 60 speakers from 17 countries including business and political leaders, eminent media personalities, senior officials from international organizations along with various experts shared insights and best practices to raise economic resilience and generate new business opportunities. This year’s theme “Creating New Drivers of Growth” draws its relevance from an emerging global context where slower growth is a new fixture among emerging market countries. Since its inception in 2013, it has emerged as an annual flagship event for the public discourse on economy and development. In its previous edition the summit brought about a consensus on boosting cooperation amongst emerging economies in the areas of infrastructure development, capacity building and technology and good governance.
The Growth Net 2015, an annual economic conclave organized by the Ananta Centre and the Smadja and Smadja Strategic Advisory, concluded today having brought together thought-leaders from across the new growth countries in Asia, Africa and Latin America.The Summit witnessed several panel discussions that lead to valuable insights on prevailing economic and societal issues such as water scarcity, frugal innovation, entrepreneurship and the rise of non-business risks which are impacting business across the world.
The conclave also featured key cabinet ministers including Mr. Arun Jaitley, Ms. Sushma Swaraj, Mr. Suresh Prabhu, Mr. Piyush Goyal, Mr. Ravi Shankar Prasad and Mr. Rajiv Pratap Rudy to elucidate the vision of the Mode government and the progress made so far towards reviving growth in India. Mr. Ajit Doval, National Security Advisor also delivered a keynote speech on ‘re-thinking national security’ on the third day which shone light on integrated approach of the government to fulfill India’s potential to be a global leader.
Speaking at the closing plenary session, Mr. Claude Smadja, President of the Smadja and Smadja Strategic Advisory said “New growth countries need agile governance without the baggage of past regulations which are dangerous for the economy and must not neglect the agriculture sector which is a significant source of growth. There should also be a strong effort to reduce the wealth gap and ensure there is a system for wealth distribution for the population. ”
Outlining the five priority areas for new growth countries he said “The implementation of inclusive polices, faster adoption of new technologies and connecting the growing middle class segment to the markets” would go a long way in ensuring that the economic growth is sustainable in the long term.
Mr. Uday Kodak, Executive Vice Chairman and Managing Director, Kodak Mahindra Bank said “India should not take the fall in oil prices for granted and should instead focus on investing on alternate sources of energy. It is important that India does not depend disproportionately on the supply or demand of any one commodity. The focus of the government should also be on defining clear objectives in terms of governance and competitiveness.”
Mr. NK Singh, Rajya Sabha MP and Chairman Steering Committee, The Growth Net Summit said that “It is crucial for India to foster a culture of innovation and risk taking.” Speaking about the roadmap ahead for the new growth countries he said “the patterns of development have to be chosen well keeping in mind crucial impact factors such as complacency in energy policies and pollution. The emerging market countries would be wise to follow a model set for the future than a model that succeeded on the past. “
More than 60 speakers from 17 countries including business and political leaders, eminent media personalities, senior officials from international organizations along with various experts shared insights and best practices to raise economic resilience and generate new business opportunities. This year’s theme “Creating New Drivers of Growth” draws its relevance from an emerging global context where slower growth is a new fixture among emerging market countries. Since its inception in 2013, it has emerged as an annual flagship event for the public discourse on economy and development. In its previous edition the summit brought about a consensus on boosting cooperation amongst emerging economies in the areas of infrastructure development, capacity building and technology and good governance.
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