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Leadership and change in mindset key to economic progress : Mr K V Subramanian
Sep 23, 2021

Chennai, 23 September. Digital infrastructure has a strong foundation as a public good in India.  South India has the potential to become a leader in the space of innovation for sustainable solutions said Mr Krishnamurthy V Subramanian, Chief Economic Adviser to the Government of India at the special plenary session of  Mystic South – ‘The Economic Growth Engine of India ‘organized by CII Southern Region through a virtual platform.

He said that Leadership is key to progress on the Corporate and at the Government front, there is a need for a mindset change that is beholden on leadership. The capabilities built by competing with the best and this is the core of athmanirbar, to build self-sufficiency on competitiveness rather than on subsidies and tariffs.

Mr Krishnamurthy Subramanian said that, to achieve a 1.5 trillion economy with sustainable growth it is crucial to focus on the supply side by encouraging capital expenditure over revenue expenditure. This would bring about sustained growth starting in Infrastructure that ploughs in private investment. The return of capital expenditure is high but impact takes time and requires revolutionary political leaders with courage of conviction to make the difficult choices. He added that this exemplified leadership needs to issue out in action and Industry captains and government leaders need to pave the way to that mindset change.

Mr B Santhanam, CEO – APAC & India Region & Chairman, Saint-Gobain India said that the South is incredibly diverse and competitive and the region has pioneered and lead in many sectors. He said it is important to lift the MSME sector in readiness for industry 4.0 and ensure reducing the digital divide

Mr Vikram Kirloskar, Past President, CII & Vice Chairman, Toyota Kirloskar Motor Pvt Ltd said that we have the demand from consumers and committed suppliers to achieve the 1.5$ trillion economy. We also have strong intellectual infrastructure that we need to continue to develop. On the sustainability front he felt  that sustainable practices need to be positioned as cost effective measures to ensure vigorous adoption

Mr N Ganapathy Subramaniam, Chief Operating Officer, Tata Consultancy Services & Chairman, Tata Elxsi Ltd said that we need to adopt a 3-T framework by focusing on Tradition, Technology and Trade.

At the Plenary Session on ‘The Turnaround Wheel’ - Reviving India’s Economy & Accelerating Growth, Mr Lakshmi Narayanan, Co-Founder & Emeritus Vice Chairman, Cognizant said that the three major investment areas in south would include technology, space, aviation & defence and the pharmaceutical industry

Mr S N Subrahmanyan, CEO and Managing Director, Larsen & Toubro Ltd spoke on the shift to digital across companies. He said the digital interventions has  helped better engagement with clients and the value addition has helped industry remain competitive and stay relevant in the tremendously changing world. He further added that there is a need to increase focus on skilling of the huge human capital.

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