Uday Kotak lists out top 10 things India must do as it approaches India@100

Uday Kotak, CEO, Kotak Mahindra Bank, has outlined a comprehensive vision for India’s future as the country approaches its centenary year. Kotak highlighted 10 critical areas that India should prioritise to achieve sustained progress and become a global leader by its 100th year.

Uday Kotak, CEO, Kotak Mahindra Bank, outlined a comprehensive vision for India’s future while speaking at the inaugural Rakesh Jhunjhunwala Memorial Lecture organised by the Ashoka university on Wednesday.

Kotak highlighted 10 critical areas that India should prioritise to achieve sustained progress and become a global leader by its 100th year. These points encompass a wide spectrum of fields, from education and defense to economic growth and societal well-being.

1. World-Class Educational Institutions

Kotak stressed the need to establish world-class educational institutions that can nurture innovation, research, and academic excellence. He emphasised the importance of developing a robust educational framework to prepare India’s youth for the challenges of the 21st century.

2. Strengthening CSR Initiatives

Kotak commended India’s implementation of the Corporate Social Responsibility (CSR) law, highlighting how it has become a catalyst for positive change in society. He encouraged companies to continue leveraging their resources for meaningful social impact.

3. Transforming the Judicial System

The judicial system is a cornerstone of any thriving democracy, and Kotak called for a dramatic overhaul to make India’s judicial system efficient, effective, and world-class. He underlined the significance of a free and independent judiciary in preserving the rule of law.

4. Building a Strong Military Power with AI Capability

Kotak emphasised the importance of a strong military with advanced AI capabilities, asserting that military power is a prerequisite for global leadership. He acknowledged the need for increased defense spending to ensure national security and technological advancement.

5. Achieving Current Account Surplus

Kotak envisioned India as a competitive nation with a current account surplus. He highlighted the significance of exporting more goods and services than importing, which can boost economic growth and stability.

6. Indian Rupee as a Reserve Currency

Kotak aspired for the Indian rupee to become a global reserve currency, citing the importance of a solid current account surplus, balance of payments, and international trust. He expressed reservations about a Chinese reserve currency and stressed the need for India to establish its financial sovereignty.

7. Democratisation of Technology and Inclusive Growth

Kotak lauded India’s strides in democratising technology and urged further efforts to ensure its benefits reach all segments of society. He emphasised the need for equitable distribution of income and wealth and improving public infrastructure.

8. Creating an Attractive Destination for Global Citizens

Kotak questioned the trend of Indian professionals seeking opportunities abroad and advocated for transforming India into a destination that attracts global talent. He called for measures to make India an attractive place for individuals from around the world to migrate.

9. Enhancing Soft Power

Kotak emphasised the need to enhance India’s soft power on the global stage. He highlighted the significance of cultural diplomacy, arts, media, and other non-military means of influence to strengthen India’s international standing.

10. Unity in Diversity

Kotak acknowledged India’s diverse fabric and called for efforts to promote unity while celebrating diversity. He stressed the importance of fostering a sense of nationhood that transcends regional, linguistic, and cultural differences.

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