The 26th BMI session for the current academic year was enkindled by a very distinguished personality, Mr. Mehul Pandya, Executive Director – CARE Ratings, India. The topic being quite discrete and fascinating was very well explained by Mr. Mehul, by throwing light on the challenges and enabling environment, which would help us achieve the target of a USD 5 Trillion Economy. He began the session by briefing some of the core aspects, which he calls the ‘Parables of Revival’.
The first and foremost parable is the Banking Sector reforms. The government brought in changes such as recapitalization and privatisation of the public sector banks. The second aspect is about the NBFC sector. They would continue to be in dire need of funding sources and therefore, need to ensure credit availability, on an ongoing basis. The third one is regarding the Power Distribution sector. It is pretty evident that a much more focused private sector will be looked for, in the distribution segment, rather than a public sector unit. The fourth parable, deals with boosting the manufacturing sector and the exports. This sector, should be the goal of all the government policies, especially for a Athmanirbhar Bharat. The fifth one is Resurrection of Urban and Rural Demand. The government is fully cognizant of this aspect and they have been taking periodic steps towards its successful implementation.
Going ahead, Mr. Mehul continued to share with us his knowledge bytes through a presentation, which gave us a clear picture about the current economic status of India and how best it can grow in the near future. To achieve this feat of USD 5 Trillion GDP by the fiscal year 2026-27, the projected annual nominal GDP growth should be around 11.6%. Agriculture, being the backbone of the Indian economy, plays a crucial role for the GDP growth. The output of this sector, is in turn, aided by favourable monsoons. Further, he elaborated on the recovery of investments and its aiding factors. He suggested that the private sector must boost up investments. The next major area of focus must be on generating sufficient job opportunities for the country’s citizens, across various sectors. Here, the MSME’s contribute significantly to the GDP, exports and facilitates employment in both rural and urban areas.
Proceeding further, he stated that for all this to happen, the government must step in and play a vital role. It must create infrastructure, which would pave the path for a glorious economy in the future.
The session ended with an interactive Q&A Session.
“The BMI Session held today on the topic ‘India’s march towards becoming a USD 5 Trillion Economy – Enablers and Challenges’ is a discrete topic that I have heard of and the way Mr. Mehul Pandya delivered the details was so nice, that even a layman could understand these aspects. Most of the topics covered were quite new to me, and thus, I am very happy that this BMI session has helped me to gain more knowledge in this field. Looking forward for more such knowledge gaining sessions and thanks BMI for such a wonderful experience.”
Angel Valancia A., F20067
“It was an absolutely informative, interactive and inspiring session! I personally liked Mr. Mehul Pandya’s humbleness, despite achieving so much. I enjoyed the way how the speaker incorporated statistics and real-life instances to deliver a complete, thorough learning experience!”
Sai Charan P.V., F20043
“This session on ‘India’s march towards becoming a USD 5 Trillion Economy – Enablers and Challenges’ was quite fascinating just like the topic. For budding managers, who have very little experience of the real-life economy and its different scenarios, this session was a blessing indeed. Mr. Mehul Pandya took us through his Parables of Revival, which plays a key role in the country’s economic growth. All this information was not quite new to us, but we were unaware of the crucial role it played in the economy. I sincerely thank Mr. Mehul Pandya, for bestowing us with his knowledge and the team BMI for this opportunity. ”
Melvin Jose P.G., F20102