Testimonials & Quotes

The Economic Times Global Business Summit 2015; is a good platform for bringing together economies and industry leaders. I compliment The Economic Times for organizing this event. We need our society and our economy to complement each other. India should no longer be bracketed with the least developed. We can do this. Swami Vivekananda had said, ‘Arise, awake, do not stop until the goal has been attained.’ This should inspire us all to achieve the vision of a new age India. Together, we can!

– NARENDRA MODI, Prime Minister of India

Let’s not forget that India is one of the few economies that survived crises in 2001, 2008 and now 2015. Many global economies are not doing well, and we have had our own share of sleepless nights, but when we look at international scenario, India stands out.

– ARUN JAITLEY, Hon’ble Minister of Finance

The Airtel and Economic Times Global Business Summit 2016saw the who’s who of the corporate world descend upon India, and itgave me great pleasure and pride to see that Uttar Pradesh was the official State partner of The Economic Times Global Business Summit 2016. As one of the fastest progressing states of India,the summit was a grand success in showcasing Uttar Pradesh’s attractiveness as an investment destination,helping us to build business partnerships on the strength of our achievements.

– AKHILESH YADAV, Hon’ble Chief Minister, Uttar Pradesh

With increased population and increased economic activity and improved power, there is a need for increased power as well. Of course, using fossil fuels and traditional forms of energy will impact human life itself more than the use of renewable forms of energy. This is a challenging situation, and to address it, every country will have to work out a framework to integrate energy, the economy, the environment, social issues, the political viability of all of this and this ultimately has to be a good business model too.

– SURESH PRABHU (Minister of Railways, Government of India)

The 2nd Annual Economic Times Infra Focus Summit (2014); Urban areas are contributing over 50% of the GDP. This is estimated to reach over 75% in the coming 10-15 years. It is for this reason that urbanization is seen as the driver of economic growth.

– VENKAIAH NAIDU, Union Minister of Urban Development, Housing and Urban Poverty Alleviation and Parliamentary Affairsa

The Economic Times SCM Summit 2015; The summit dialogue today has been encouraging and we hope tomake strong partnerships that will help us realize our common dream of a developed India by the year 2020.

– DEVENDRA FADNAVIS (Hon’ble Chief Minister of Maharashtra)

We committed to delivering 24×7 power to all, which many said was impossible. Today, we are a power surplus state with 15,500 MW of power. We worked on completing power projects across thermal, hydro, wind, solar and it gives me great pleasure to say 5000 MW will be generated through renewable energy. It is only by building infrastructure that we can build a nation.

– SHIVRAJ SINGH CHOUHAN, Hon’ble Chief Minister of Madhya Pradesh

The Economic Times HR Conclave 2014; If we get it right, it would essentially mean that we could become the workhorse of the world, the manufacturing hub of the world, the people supplier of the world, the human resources supplier of the world at all levels, because the rest of the world is going to need people.

– DR. SHASHI THAROOR, Member of Parliament, Govt. of India

It is a matter of great pride that the improvement of India’s infrastructure has seen it gain get greater standing in the global marketplace.It is a matter of great pride that the improvement of India’s infrastructure has seen it gain get greater standing in the global marketplace.

– KALRAJ MISHRA, Hon’ble Union Minister- MSME

As a nation, we have focused on education, but not on skill development. The next 5 to 10 years are crucial to meet the emerging challenges in making India a great power amongst the comity of nations. With 250 to 300 million job opportunities coming up in the next decade, we would need to adequately skill this manpower, and entrepreneurs can play a great role in this whole process.

– RAJIV PRATAP RUDY, Minister of State for Skill Development and Entrepreneurship, Government of India

There’s an air of optimismall around due to aconvergence of severalglobal phenomenon. The current government has demonstrated immensecommitment anddedication which will go along way in helping India progress as this was the only part which was missing, the rest ofpotential was already present in the country. With these developments in place India isgrowing at a rapid pace and it has become amust-be-in country.

– SUNIL MITTAL, Chairman, Bharti Enterprises

If wecontinue with the way we are, weconsume more than what the planetcan bear, we are really on a trackthat is not sustainable. We must createa business model that sees uscreate riches for business and for thenvironment.


The backdrop of India’s growth has to be digital and physical, and this growth has a multiplier effect on the economy. We now need a big bang approach to improve infrastructure development in the country. All our infrastructure development will need long term and cost effective finance, and through bond markets and other innovative schemes, we can unlock the infrastructure sector and help us achieve our potential as a nation.

– GM RAO (Chairman, GMR Group)

India’s structural advantage, not linked with any variables, is the fact that we have a huge demographic dividend. We are talking of an average age around 27 and we will soon have the largest number of young people in the workforce as compared to any other world economy. This is an advantage that we need to cash in on. The fact that we’ve become the fastest growing economy in the world is something to really crow about and then we’ve got all our macro-economic fundamentals in place. All of these factors are huge positives for India, so we are a spot of sunshine in the global economy.

– KUMAR MANGALAM BIRLA, Chairman, The Aditya Birla Group

I look back 10 years ago, and if I were asked the question, What would your macro dream be for India?, I would merely say four points. Low oil and commodity prices, low inflation, very low current account deficit and huge global capacity available for India to build its infrastructure. Today, the dream is true. All the four factors are available. This is our time to think of it as a perfect batting wicket and for us to go out there and play our game. And at times, I feel a certain level of despondency from Indians within than from global players looking in, who are optimistic about India’s prospects.

– UDAY KOTAK (Executive Vice Chairman & MD, Kotak Mahindra Bank)

India is growing above 7% despite global headwinds, and with an accelerated pace of reforms, India has the potential to be one of the bright spots in a woe-stricken global economy.

– DR. NOURIEL ROUBINI, Chairman, Roubini Global Economics

While the world is interconnected, India’s internal dynamics matter to it more than that of the rest of the world. It’s huge technological assets and human capital just needs to see more risk-taking to make the most of it. India is a winning trade that the rest of the world must go with.

– NASSIM NICHOLAS TALEB, Scholar, Statistician and Risk Analyst

We’ve got to totally redo the future of work. We have to give up most of the hierarchical structures and use digitisation for that. If you do not do that, you will get left behind. It’s going to happen in the next three years. Millennials have skills that older people don’t have.

– RAM CHARAN, Business Advisor, Author & Speaker

China’s very evidently slowing down; but not to an extent that India can take over it soon. The efforts need to be more concerted and the current government brings around much more confidence.Unlike the earlier regime in 1991, this time around there’s more determination and speed with respect to the reforms being initiated and implemented.

– PROFESSOR JAGDISH BHAGWATI, Economist, Professor of Economics and Law, Columbia University

The industry can certainly benefit from a Summit such as this (Best Brands 2014). Comingtogether on a platform likethis helps in sharing ofideas and thoughts, andallows the industry thechance to reassess its own goals and practices.

– SAM BALSARA (Chairman & Managing Director Madison World)

I’m one of the rare few people from the current lot of filmmakers who made the shift to digital editing, along with Aditya Chopra. There’s been a sea change within the film fraternity when it comes to using technology. I actually edited all my films using literally a scissor in hand, snipping and slicing film together. Technology means you can try fade-ins and blurs and after the initial excitement died down, we understood how to make the most of the technology that was here to stay. The whole change has been completely, diametrically phenomenal.

– KARAN JOHAR, Filmmaker – Dharma Productions

As a first–generation entrepreneur, I strongly believe that the ’spirit of challenge’ and the ‘courage of conviction’ is critical to become an entrepreneur. As long as one has these qualities, the entrepreneurial mind set can be developed to take your idea forward and build a successful venture. If I could become an entrepreneur, any one can.


Entrepreneurship is not only risk taking, there is a lot of integrity involved in it. Entrepreneurship is all about ownership. Going into the future, the only people that will succeed are those that master three skills that are constant in life; people skills, persuasion skills and prioritization skills.

– SHIV KHERA, Founder, Qualified Learning Systems (USA), Author, Educator & Business Consultant

I think there is a much higher appetite and excitement about what is happening, there has been a significant shift that was not on the table. It’s all very positive.

– DOMINIC BARTON (Global MD, McKinsey & Co.)

India produces 10% of what China produces with a similar population. This is the time to build capacity, it is an opportunity. In natural resources, we have been branded as an importer. This must go away; we must produce 50% of our energy, and this is where entrepreneurship can play a big role in India. If you see electronics, we are importing $100 billion worth of electronics. In 3-5 years time, this could become $500 billion. We need 1000’s of entrepreneurs to come up and start manufacturing this. When I see this tremendous opportunity, it can be a great advantage for the country.

– ANIL AGARWAL, Founder & Chairman, Vedanta Resources

I think that we need to be preparing for a period of low oil prices. I don’t see any changes in the Middle East that would suggest that oil prices are going to go up in the near term. So countries and companies need to figure out how they’re going to adjust and turn this into an advantage, if that’s possible, to mitigate the disadvantages of low oil prices.

– JOHN RICE, Vice Chairman, GE

From a global economic standpoint, the mood was pretty gloomy, to say the least. In fact, the number of global CEO’s that are predicting the global economy will decrease this year are about 27%. So it’s a very pessimistic view, we all know the reasons. The one point I would leave you with is that when we asked CEO’s to mention their top destinations for investments, India ranked number 5 on that list. With an economy growing 7.5%, there should be a lot more interest. One of the challenges the government must focus on is figuring out how to make it easier to do business in India.

– DENNIS NALLY, Chairman, PricewaterhouseCoopers International

India has many of the same challenges as a company. Sometimes it feels very hard to set the strategy, it feels pretty hard to set the policy, it’s really hard to get the implementation. The bigger the company, the more complex the system, the harder it gets. So I think there’s a really strong argument to focus on consolidation and implementation.


Clearly, when I look at what has happened here in the last several years, there has been a great move in infrastructure. It begins with power, and I think India is second to no country in the world in terms of its embrace of renewable energy.

– FRED HOCHBERG, Chairman & President, Export/Import Bank of the United States (Ex-Im Bank)

To be a part of Best Corporate Brands 2016 is a matter of considerable pride for all YES Bankers.


I can only reiterate that when it comes to being an entrepreneur or leading thousands of people, I cannot overemphasize the importance of the art of communication and of being an adept communicator.

– RONNIE SCREWVALA, First Generation Entrepreneur & Founder, Unilazer Ventures

These are the first few steps of an industry looking to meet the demand of a nation through architectural solutions. I am confident that once we push forward we will find remarkable progress and that the challenge is very inspiring.

– PROF K JAISIM (Principal Architect, Jaisim Fountainhead)

We have to deletethe word delay and institutepredictable policybased governance. Wemust reduce time to getclearances for growing ournation.

– PRAKASH JAVADEKAR, Hon’ble Minister for Environments, Forests & Climate Change

There are questions being raised with regards to environment-friendly development around the globe, because sustainable development concerns us all. The discussions we are having today will bear fruit tomorrow. We need to work towards making a positive change, and the Paris Climate Change Conference is an important step in this direction.

– ANANT GEETE (Hon’ble Minister of Heavy Industries and Public Enterprises, GOI)

There was a time when Assam was full of insurgency. Some say that no development has taken place in Assam during the last 15 years. Today, this award stands as a testimony that peace has returned and Assam is on the path of development.

– TARUN GOGOI, Hon’bleChief Minister of Assam

India is on the cusp of becoming a superpower. And yet, the threat of a pandemic of non-communicable diseases could stall us. A keen focus on living healthy, early detection and preventive healthcare would make our citizens ready to ride the crest of progress. We have all been blessed with the priceless gift of good health and nurturing it is our biggest individual and collective responsibility to ourselves, our families and our nation.

– DR. PRATHAP C REDDY, Founder, Chairman – Apollo Hospitals

Agriculture is an often ignored partof our economy,and we need tounderstand betterhow to helpimprove the lot ofour farmers. Weneed to look atinfrastructuredevelopment and how to get moreprivate investments into the sector.

– SANJEEV KUMAR BALYAN, (Hon’ble Minister of State, Govt of India)

We are facing dual challenges of communicable and non-communicable diseases; of the gap between urban and rural healthcare; between public and private healthcare. And so we have to see in a holistic manner how to bridge gaps such as these. When we talk of universal healthcare, it is not to remain merely a slogan; we are trying to make it a reality.

– JAGAT PRAKASH NADDA, Honourable Minister for Health and Family Welfare, Government of India

It is the government’s duty to make business easier to do.

– MANISH SISODIA, Hon’ble Deputy Chief Minister of Delhi

There is a very critical role to play for bankers to play as India continues to grow. Many of our banks will have to be capitalized and the sector will be key to bringing in a 9-10% rate of growth. The key challenge for India is to grow at 9-10% over 3 decades to boost a young populace over the poverty line.


Asset reconstruction and NPA managementare of vital importancefor countries’ bankingsystems and in the long-run, the stability ofa country’s financialsystem and its contributionto economicgrowth. Sweden and Indiaare part of the globalizedfinancial system and we are all vulnerableto external and domestic shocks. To preventa lending boom to burst into a crisis a good regulatoryframework is key.

– FREDRIKA ORNBRANT, Consul General of Sweden

The primary goal was to see how we could bring all industry practitioners together, which is the builders on one end, the architects on the other and the government too.The issues highlighted in the interactions translate into clear cut strategic direction.

– ABHISHEK SOMANY (Joint MD, Somany Ceramics Limited)

This is a massive opportunity. The government has started listening to government bodies. I feel we are possibly in the best time in Indian history. It is our responsibility to be able to provide for the requirements for those that do not have. That is where the future of our economic growth lies.

– BOMAN IRANI (CMD, Rustomjee Group)

Seeing the climate changes we are facing, and the effects of pollution of thermal generating plants, Renewable energy is no longer a luxury nor can it be called “alternative energy” but is “essential energy” or “preferred energy”. We need to decide what legacy we want to leave for the next generation.

– VIJAY KARIA, Chairman & Managing Director, Ravin Group of Companies

All of us are aware that India is a young country with 54% of the population under 25.A substantial portion of the people live in villages. Therefore as the population migrates, the manufacturing sector will have to contribute much more than it does today. And for it to contribute, it is extremely important that the focus of infrastructure not only continues, but is significantly enhanced.

– YM DEOSTHALEE, Chairman, L&T Finance Holdings

The Mutual Fund industry is poised for even greater success. It has built a solid track record of strong product performance, with the majority of our funds regularly beating relevant benchmarks. Our regulatory, compliance, transparency, accounting and service standards are amongst the best globally. This provides our investors with a lot of confidence in our product. A rapidly growing savings pool and low penetration levels provide a lot of headroom for growth. The recent growth in AUM as well we as SIP volumes is a very encouraging sign, even though there is still the need for wider and deeper investor awareness.


Firstly, the key enabler for the growth of the Mutual Fund industry is to offer investors a simplified on-boarding process. The implementation of uniform KYC, where the bank KYC documents can be available to AMCs directly will prevent duplication of paperwork, and result in manifold increase in retail folios. For instance, in the current situation, out of the 100 prospective investors who visit our website, only 3-4 get converted. With the uniform KYC implementation, the conversion number can be much higher and will be a significant step towards boosting the growth of the industry. Secondly, we have to incentivise distribution partners better to ensure new distributors join the business.

– NIMESH SHAH, Managing Director & CEO, ICICI Prudential Asset Management Company

One of the things that come to mind when it comes to digitization is to pause and think if we are putting digitization ahead of its time to people. People need to accept digitization specifically to mutual funds. The biggest challenge for the industry is product awareness. We need to understand if there is still a need for a fairly evolved process of meetings with distributors or advisors with a view to improving understanding before we embark upon digitization.

– MILIND BARVE, Managing Director, HDFC Asset Management Company

Sustainability comes down to 4 P’s really; people, in terms of addressing their social needs and bringing them out of poverty; prosperity, in terms of generating income for everyone; the third P is the planet, because business can’t profit on a dead planet. Profits must be made, but we must think of the generations to come; lastly, we need partnerships that contribute to larger causes.

– JACO CILLIERS, Country Director, UNDP India

CSR is something we have been talking about for the last few years now, but it is also a part of culture. It is a culture that should be passed on from generation to generation. Now that the government has put a policy in place, it dovetails with whatever the organization is doing.

– HEMANT KANORIA (Chairman & Managing Director, SREI Infrastructure Finance)

India has large developmental challenges, with about 21% of the population below the poverty line. We really need to look at the wider economic, social and environmental parameters as far as the delivery is concerned. We need to come up with unique solutions that are scalable and sustainable.

– NAMITA VIKAS (Group President & Country Head, Responsible Banking & Chief Sustainability Officer, Yes Bank)

The pension fund industry is poised to evolve into one of the most significant drivers of financial markets and economic growth in India, in view of the large potential available.

– HEMANT CONTRACTOR, Chairman, Pension Fund Regulatory and Development Authority

4 things make entrepreneurship difficult; access to finance, cost of finance, access to technology and cost of marketing and infrastructure. Work is underway to ensure that this bottleneck to success is removed, and I’m sure the entrepreneurial ecosystem in India will keep flourishing in the years to come.

– DR. ANUP K. PUJARI (Secretary, MSME Ministry, Govt of India)

We have to learn how to include people in the entire journey rather than ensuring that they are excluded out of it.

– ADIL MALIA (Group President – HR, Essar Group)

The development of a healthy Pension segment is imperative for India on two accounts – one to ensure that the retirees are able to build a substantial post retirement corpus and secondly for the growth of the Indian Equity markets. I feel that, if international pension funds can benefit from the growth of the Indian Equity markets, Indian pensioners too need to benefit from this opportunity.

– LEO PURI, MD, UTI Asset Management Company Ltd

The only optimistic place that people are talking about from Davos to today at GBS 2016 is India.

– PRAKASH TULSIANI (COO, AllCargo Logistics)

For the entire Architecture & Design fraternity, it’s not important to just see transformation as it stands today, but where itwill move in the future. Itis important to recognize that in terms of our cities, we must recognize what it wants to be.

– DIKSHU KUKREJA (Proprietor, C. P. Kukreja Architects)

We are working hard to build and sustain the credibility &trust, and initiatives like The Economic Times Best RealtyBrands 2015 can play a big part in this.

– R. ANIL KUMAR (Managing Director at Krishna Enterprises (H&I) India)

There is a very real need for focusing on safety in roadtransportation by bringingtogether the experts and thestakeholders in the sector. Aninterdisciplinary integration of key topics on road safety can help underscore the critical challenges facing the sector.

– INDRAJIT BOSE (Executive Director, Corporate Communications & Branding, IOCL)

India is now embarking on a journeyof growth & development and our thoughtleaders and influencers such asgovernment, regulators and consultants cantogether make India’s growth story muchmore sustainable and much less harmful inthe ecological sense. That’s what the Saint-Gobain and Economic Times Smart Green Summit is all about.

– B SANTHANAM (President and MD – Flat Glass, South Asia, Malaysia & Egypt, Saint-Gobain)

I don’t think we romanticize our spaces enough. There is a tremendous transition that we have had from the outdoor to the indoor, and that is a transition that we have to rethink.

– MICHAEL FOLEY, Founder, Foley Designs

In order to sustain our food security, we need to modernise our agriculture sector, weatherproof it as far as possible with greater focus on lowest strata of farming community i.e. small and marginal farmers including landless and tenant farmers.


India is standing out as a brand. The IMF describes India as a bright spot, we must capitalize on this. The quality of the service and product must be good. Only then branding can take root. There has to be a sincerity with any brand, because you are always evaluated on multifarious factors. Together, we need to work to make sure this country shows great growth. There is a great opportunity for us.

– SHAKTIKANTA DAS, Secretary, Department of Economic Affairs, Ministry of Finance, Govt of India