“We are at risk”: Uday Kotak says that Trump’s shock should push India from a “cruise mindset”

The founder of the Kotak Mahindra Group, Audi Kotak, who urged policy and companies to deal with shock as a incentive for deep structural reform, who urged policy and companies to deal with shock as a incentive for deep structural reform, which urged policy and companies to deal with shock as a incentive for deep structural reform, urged the attack on the attack on Donald Trump’s definition that is the definition The attack on India was attacked against economic weaknesses.

Kotak told the Financial Times in an interview that he “woke the Indians” to the dangers of global dependency, describing the dual customs tariff system as a “great shock.” “We must think about this as an opportunity to get out of our journey mentality and a comfortable mentality to” we are in danger, “warned.

Trump imposed an additional 25 % tariff on Indian exports – at a 25 % mutual tax – which controls the purchase of the reduced Russian India. It claims that the sanctions aim to be “profitable” of the war economy in Russia. Analysts warn that the new customs tariff can fly 0.5 to 0.7 percentage of GDP growth in India.

However, Kotak sees the opportunity in the crisis. He said: “There is a sense of urgency to transform India,” and it urges the productivity, efficiency and global competitiveness. “Manufacturing should play a very important role,” he said, adding that the producers should not rely on the local market in India alone, as it avoids “advanced accuracy.”

Kotak added that the basics of the macroeconomic economy in India are still strong. “Our financial deficit is under control, and our current account is under control, you have a macroeconomic stability.” But with the gross domestic product of the individual of only $ 2,700-who made $ 13300 in China and about $ 89,000 in the United States-warn of the risks of slipping into the “medium income trap”.

He said: “On the current” journey level “, we will continue to improve, but is it fast enough for us to bypass the trap of the average income? I think there is a gap.”

Kotak called for direct financial support for “turbide” companies for small companies in manufacturing, research and development, and technology – to escape from the trap and building.