Mumbai: ET NOW, an English business news channel hosted ET NOW Leadership Dialogues 2024 in Mumbai today. Marking the channel’s 15th anniversary, the inaugural edition witnessed leading industry voices, policymakers, and economic experts cover critical aspects of economic policy, financial regulation, and strategic initiatives to steer India’s progress.
Themed ‘India@2030,’ ET NOW Leadership Dialogues 2024 delved into discussions and deliberations outlining visionary strategies towards India’s transformative journey to a $10 trillion economy, covering critical discussions on the exponential growth in Indian retail investments, surging profitability, and the identification of high-growth opportunities. pioneering funding mechanisms for Viksit Bharat and fortifying the resilience of India’s stock market. The immersive and insightful discussions with distinguished investors and eminent policymakers featured collaborative and thought-provoking sessions covering critical conversation points on the vision for the country, investment strategies and India’s financial markets through technological innovations among others.
Shaktikanta Das – Governor, Reserve Bank of India delivered the keynote address, followed by a fireside chat on the key strategies for India@2030.
Delivering the welcome address, Times Group executive director & group CEO (non-publishing) N Subramanian said, “As we celebrate a remarkable milestone of 15 years of ET NOW, we reflect on a journey marked by our unwavering commitment to integrity, innovation, and intelligence. Over the past decade and a half, ET NOW has been at the forefront of championing India’s growth story, empowering millions with financial inclusion and informed decisions and helping them Rise with India. Under visionary leadership and through groundbreaking reforms, we are poised to lead India into an era of remarkable growth and opportunity. I am confident that, today’s discussions with leading industry voices, policymakers, and economic experts at the ET NOW Leadership Dialogues will chart a clear path for India to become a $10 trillion economy by the end of this decade.”
Delivering a keynote address and participating in a fireside chat, Shaktikanta Das, governor of the Reserve Bank of India, said “From our recent accolade as Risk Manager of the Year 2024 to projecting a robust 7.2 per cent GDP growth for 2024-25, India’s economic landscape reflects optimism and momentum. Rural demand is resurgent, bolstered by favourable monsoon forecasts, while our external sector remains buoyant, supporting robust service exports. Amidst these successes, we confront persistent challenges, notably in tempering inflation amidst global uncertainties and supply-side pressures. Our strategy remains steadfast: maintaining a delicate balance between growth and inflation, and navigating through a slow but steady moderation of prices. As we reinforce financial stability with prudent policies and a watchful stance, our forex reserves have surged to $655.8 billion, a testament to our resilience and global confidence. Innovation must thrive within regulatory frameworks, akin to driving a Ferrari on public roads. As we advance towards a future-ready economy, the RBI stands resolute in its commitment to fostering growth, ensuring all sectors thrive responsibly under our regulatory stewardship.’”
State Bank of India chairman Dinesh Khara said, “We anticipate robust growth averaging 15-17 per cent over the next three years, supported by a stable macroeconomic environment and diligent credit oversight. Despite facing liquidity constraints and adapting to evolving investment trends, our priority remains to fortify our liability framework amidst market dynamics. Our strategic emphasis on achieving a 1.10 per cent return on assets (ROA) exemplifies our dedication to sustainable expansion, avoiding immediate equity dilution. With a formidable capital foundation, State Bank of India is strategically positioned to bolster India’s economic revitalization.”
During the fireside chat, National Stock Exchange (NSE) MD & CEO Ashishkumar Chauhan spoke, “Over the past 30 years, Indian stock markets, led by National Stock Exchange, have surged from a modest Rs 4 lakh crore market capitalization in 1994 to an astonishing Rs 430 lakh crore today, transforming India into a capital-rich nation with 20 per cent of households participating in equity markets. This widespread trust in Indian entrepreneurs defies conventional economic theories. As the fourth-largest market by cap, India’s growth is a testament to its economic confidence, driven by technology and innovation. India emerges not just as an investment destination but as a global asset class, attracting international interest. NSE stands as a profitable entity and a guardian of regulatory integrity, ensuring India’s wealth creation journey remains resilient and inclusive.”
