India’s place in a post-Covid world: the Express-FT series today
In the first of a series of on-line agenda-setting debates hosted by the Financial Times and the Indian Express, political, economic and financial leaders from India and abroad will meet on Thursday for a discussion on the economic and commercial future of India.
Kicking off the event titled “India’s Quest for Economic Power” as keynote speaker will be Finance Minister Nirmala Sitharaman in conversation with reporters from FT and Indian Express.
“India’s place in the post-pandemic world” is the general theme under which this series will unfold. With the Covid-19 pandemic and the second wave of infections clouding India’s economic and trade growth prospects, discussions will focus on what the government’s top policy priorities should be to rebuild the economy to ensure a resilient and sustainable recovery and attract foreign investment. Pending structural reforms are another key theme to be emphasized.
The discussion with Sitharaman will be followed by a roundtable on sustained growth with Jahangir Aziz, Manager, Emerging Markets Economics, JP Morgan; Rohini Malkani, Senior Vice President, Credit Ratings, Global Sovereign Ratings, DBRS Morningstar; and KV Subramanian, chief economic adviser; and P Anbalagan, CEO, Maharashtra Industrial Development Corporation (MIDC), reporting to Amy Kazmin, South Asia Bureau Chief, Financial Times.
Even before the shock of Covid-19, the Indian economy had lost momentum, with growth slowing steadily. Today, after a sharp contraction in GDP due to the pandemic, the medium to long-term outlook remains uncertain amid the second wave of infections.
Martin Wolf, Chief Economic Commentator for the Financial Times, will deliver a keynote address on India in the post-Covid global economy, followed by a series of talks on whether Indian businesses can compete at worldwide. This comes at a time when large firms appear to have weathered the shock much better than smaller ones, with profits bolstered by cost reductions and improved market share gained at the expense of weaker rivals, even as most small businesses are still in heavy debt, disrupted supply chains, and low demand.
Participants include Sidharth Nath Singh, Minister of Micro, Small and Medium Enterprises (MSME), Export Promotion, Textiles, Khadi, Village Industries, Sericulture, in the Government of Uttar Pradesh; Naushad Forbes, Co-Chair, Forbes Marshall; Shobana Kamineni, Executive Vice President of Apollo Hospitals; and Manish Sabharwal, president and co-founder of Teamlease Services.