AHMEDABAD: Women can be key change makers to bring India closer to realizing its goal of a $5 trillion economy, according to Amitabh Kant, CEO, Niti Aayog.
Kant, delivering the 41st Vikram Sarabhai Memorial Lecture at the Ahmedabad Management Association, said gender parity in India is dismal. He said only 22% of women in India work, compared to the worldwide average of 48%.
“Reaching the world average would add over more than $700 billion to India’s economy. Thus, it is not possible to become a $5 trillion without women being equal partners in the country’ growth,” said Kant.
More women should be encouraged to take up power positions and become entrepreneurs.
Stressing the importance of startups, he said India has created the second best startup ecosystem in the world in three years.
“Startups are not merely disrupting systems, my belief is that many of them are actually finding solutions to the problems of India. So, if they are finding solutions for waste management, learning outcomes, health outcomes, they are not finding solutions for 1.3 billion people of India but for 7.5 billion people of the world,” said Kant.
One of the challenges faced by startups is that they often get into the sunset area of the industry, making it difficult for them to penetrate the global market. Sectors like electric mobility, data centres, artificial intelligence are some sunrise sectors where startups should invest and innovate, he said.
While India has a large domestic market, the real unit value comes from exports. India must have passion and commitment to penetrate global markets, especially the US markets, he said.
“It is necessary to penetrate America. Without America, it was not possible for Japan, Korea or China to become rich. That is where the real wealth is. It is important that Gujaratis, who gave a thumping welcome to US President Donald Trump recently, penetrate his country first. Without America, it will not be possible to create great wealth,” Kant said.
Kant, delivering the 41st Vikram Sarabhai Memorial Lecture at the Ahmedabad Management Association, said gender parity in India is dismal. He said only 22% of women in India work, compared to the worldwide average of 48%.
“Reaching the world average would add over more than $700 billion to India’s economy. Thus, it is not possible to become a $5 trillion without women being equal partners in the country’ growth,” said Kant.
More women should be encouraged to take up power positions and become entrepreneurs.
Stressing the importance of startups, he said India has created the second best startup ecosystem in the world in three years.
“Startups are not merely disrupting systems, my belief is that many of them are actually finding solutions to the problems of India. So, if they are finding solutions for waste management, learning outcomes, health outcomes, they are not finding solutions for 1.3 billion people of India but for 7.5 billion people of the world,” said Kant.
One of the challenges faced by startups is that they often get into the sunset area of the industry, making it difficult for them to penetrate the global market. Sectors like electric mobility, data centres, artificial intelligence are some sunrise sectors where startups should invest and innovate, he said.
While India has a large domestic market, the real unit value comes from exports. India must have passion and commitment to penetrate global markets, especially the US markets, he said.
“It is necessary to penetrate America. Without America, it was not possible for Japan, Korea or China to become rich. That is where the real wealth is. It is important that Gujaratis, who gave a thumping welcome to US President Donald Trump recently, penetrate his country first. Without America, it will not be possible to create great wealth,” Kant said.
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