The ‘During COVID’ Phase Lasted Longer Than Expected: Uday Kotak

Uday Kotak believes that demand is the key to reviving the economy, and should come from the ground up.

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Hopeful about the Indian economy and confident about government reforms, Kotak Mahindra Bank’s Managing Director Uday Kotak believes that demand is the ultimate key to reviving the economy, and this demand should come from the ground up.

While talking to The Quint’s Editorial Director Sanjay Pugalia, Kotak stressed upon the implementation of medium-term solutions instead of short-term solutions.

On the topic of reviving the economy, he remarked that it is not only okay but also absolutely necessary to borrow given the current circumstances. But he also warns us that we should not overdo it. He also said that it is crucial to protect the banking system and by that he means not only the borrower but also the lender.

“The financial sector is fragile and needs protection.” 
Uday Kotak, MD, Kotak Mahindra Bank

“Getting the balance right is important,” he says. He adds that government policies should also be devised in a way that it maintains a symbiotic relationship with the banking and financial sector.

“Policies should be made keeping the minority shareholders in mind.” 
Uday Kotak, MD, Kotak Mahindra Bank

Besides these, he also talks about investing more in the healthcare and education sector, as they, too, play crucial roles in the economy. He says that if these are fulfilled then “our quest for Atmanirbhar Bharat will be achievable”

Kotak believes that India is at a turning point, where we are transitioning from a physical to a digital world, and what the country needs right now is to create a digital domestic ecosystem which is globally competitive.

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