KV Kamath said that economic recovery in India would be better than expected. The government is constantly taking big steps. The employment situation in India has improved.
Delhi (Gulf Inside) In an exclusive interview with Rahul Joshi, Group Editor of Network 18, KV Kamath, former head of the New Development Bank, discussed a number of issues, including economic recovery, the Corona crisis and strategies for dealing with China. KV Kamath said that economic recovery in India would be better than expected. The government is constantly taking big steps. The employment situation in India has improved. Recovery will be U-shaped and will show up fast. Explain that KV Kamath has been the first head of NDB. He has completed a five-year term in the NDB. He said that NDB proved that the countries of the south can develop by uniting.
What are the challenges facing NDB and how much is lent? In response to this question, he said that the bank takes care of the interests of all the members and will continue to take care of the interests of all the members. The bank is trying to add more members. The future of the NDB is bright. He said that in five years, NDB has given loans to all the five members. Approved 18 billion loan book. So far, the NDB has disbursed about Rs 4 billion in loans. All disbursements will be in the next two years. NDB’s loan growth has been excellent.
How has the last six years of Modi’s government been? Answering this question, he said that the shocks of the global economy are also being felt in India. The pace at which the government is working builds confidence. The dream of a five trillion dollar economy seems to be coming true.
What will the economy look like after Corona? On this, he said that he did not agree with the estimates of the institutions regarding the development of India. Corona’s condition is difficult to assess. Economic recovery in India will be better than expected. The government is constantly taking big steps. There are many jobs in the agriculture sector. The agriculture sector has seen a rapid recovery. Corona had little effect on rural India. The government is already preparing for the digital economy. The benefits of promoting the digital economy were evident. Especially connecting the village to the internet. This time sowing was 5% more than last season.
KV Kamath said that there is no debt burden on top Indian companies. Big companies will recover faster. There is no stress in the balance sheet of big companies. Knowledge India’s business is revolutionary. Great work is being done outside the office as well. The e-commerce industry has been the backbone of the economy in these difficult times.