Kotak Mahindra Bank founder and director Uday Kotak expressed concern over excessive financialization, saying that this could harm the Indian economy, as investors can put their savings in the stock market without understanding the evaluation.
Addressing the Investor Conference ‘Chaasing Growth 2025’ of Kotak Institutional Equities, Uday Kotak said that the rules of the game have changed and primary change is being experienced about the arrival of capital. He also said that India is not in a position to tolerate protectionism and will have to take advantage of changing times and make the industries here competitive instead of being protective.
He insisted on improving productivity, avoiding additional protectionism and increasing manufacturing share as a percentage of GDP (GDP). Kotak also emphasized the importance of implementing subtle and comprehensive economic policies.
The Economic Review of the year 2024-25 also talked about excessive financially and said that such an incident has led to an unprecedented increase in public and private sector loans in developed economies. The review states that India needs to maintain better balance between financial sector development and growth. Indian markets are flexible and there is enough opportunity for foreign investors here. He said that India would have to move beyond micro-management/over-regulations to grow and move towards competition.
A report by Kotak Institutional Equities quoted Uday Kotak as saying, ‘India should ensure independent and fair markets all the time and has progressed a lot in this direction.’ He said that he said that foreign equity portfolio account should be opened in 1995 After this, $ 800 billion through foreign portfolio investors (FPIs) at this time, $ 900 billion to $ 1 lakh through FDI (FDI). The dollars are charged with $ 500 to 600 billion through a million dollars and foreign commercial borrowings (FCBs).
(Disclaimer: Business Standard Private Limited has a majority stake of units controlled by Kotak family.)
First Published – February 19, 2025 | 11:59 PM IST
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