Focus should be on establishing a new, improved norm for how we work, travel, invest, care for the environment, and define work-life balance, among other factors: Deloitte CEO Punit Renjen at the Global Business Summit in March 2022
The global CEO of Deloitte, Punit Renjen, spoke at the seventh annual Economic Times Global Business Summit in March 2022, about how India could become a prosperous economy.
“The times in which we live are extraordinary,” said Renjen. While discussing the current crisis in Ukraine, he provided a wide-ranging overview of the world’s current state. “Today, we wish that everything goes back to normal, the way it was until 2019,” he added.
Renjen said that liberal democracies were under attack and that income inequality was growing as a result of climate change. The focus should be on establishing a new normal, a better normal, in terms of how we work, travel, invest, care for the environment, and define work-life balance, among other factors.
India might become a prosperous economy, according to Renjen, because its growth and improvement over the past decade have been sufficiently impressive. India’s potential is limitless, and its traditions are remarkably aligned with where the world appears to be headed.
To bolster India’s strategic imperative, greater emphasis should be placed on the growth of the automobile, food processing, capital goods, pharmaceuticals, and electronic products industries. Renjen stated that by 2030, India will have the world’s largest population of young people.
The modern generation would be the driving force in India’s efforts to attract foreign investment and reduce economic disparity. He said that Deloitte is committed to doing its share, particularly in the field of education. “This is because 175 million women in India lack the education and skills necessary to enter the workforce. Consequently, a significant emphasis on education is required to combat this problem.”
He stressed the necessity for India to prioritise economic growth if it is to continue attracting foreign investors. This must be done in a way that doesn’t slow the growth of our economy.
“Recently, Deloitte has partnered with the leading NGOs in India, and other renowned firms. This would help in improving the access to quality education for India’s most undeserved population through a global world-class ambition.”
Edited by: Tanmoy Mitra and Jai Shah
This is not the time to lose momentum during a period of resurgence. Renjen added that India can undoubtedly become a thriving economy in the coming years.