Churning on global platform

Media Coverage | 12-04-2024

Mega conclave of economic insights in Singapore

The global economy is advancing rapidly with sectors like education, trade, industry, information technology and pharmaceuticals making significant progress. However, economic development should not solely focus on mass production and monetary growth. It should also prioritise providing equal opportunities to all individuals from the grassroots level to the upper classes. In addition to empowering women, it is crucial to consider improving the lives of marginalised communities. To address these issues, the Lokmat Global Economic Convention was held, facilitating in-depth discussions and deliberations. Here is a concise summary of the event.

Participants in the seminar on ‘Roadmap to make India a leader in the global economy’ included (from left) Dr P K Jain, Suresh Mutha, Pradeep Rathod, Gautam Singhania, Prakash Jain, Madhusudan Agrawal, Vishal Chordia and chairman of editorial board of Lokmat Media Group and former member of Rajya Sabha Dr Vijay Darda.

Participants in the seminar on ‘How innovation and skills will accelerate employment and growth’ included (from left) Gautam Chand Jain, Dr Gautam Bhansali, Nitin Bhagwat, Vishal Chordia, Mangal Prabhat Lodha, Pramod Ranka, Dr Vijay Darda and Sanjay Ghodawat.

Everyone should contribute to create new India

Noted industrialist Gautam Singhania’s appeal: Industry stalwarts express their views

Entrepreneurs participating in the symposium ‘Taking India to the Pinnacle of World Economy – A Roadmap’ at the Lokmat Global Economic Convention opined that we could develop rapidly only if we remove the shortcomings the industry and businesses face.

Gautam Singhania:  All the business leaders present have selected India as their business destination on their own volition. We will all work consistently to take India to greater heights. Over the past decade, the government, led by Prime Minister Narendra Modi, has worked better than our expectations. I feel that this government should get a third term. If you ask me what one thing should be done for the development of industry, I will say the labour laws should be industry-friendly.

Pradeep Rathod: The PLI is an incentive scheme, but I am speaking about a new system that is necessary. The system where land and other infrastructure facilities can be made available rapidly. It entails the establishment of well-equipped industrial parks, the revision of policies to ensure easy access to land, electricity supply, and infrastructure.

Pradeep Rathod: There are minor challenges and not significant barriers. Outdated labour laws in India present an obstacle. It is imperative to update these laws to keep pace with the present era. I am a proponent of Indian democracy, which is why we are all here in India. As pointed out by Acharya Lokesh Muni, it is vital to offer both the less fortunate and the wealthy the opportunity for sustainable life. Only then can we achieve holistic progress as a nation.

Vishal Chordia: The Prime Minister is introducing Iindian elements to the world in a fresh and innovative manner. Yoga, the Indian diet, and Indian cuisine are gaining immense popularity globally. The utilisation of legumes is also flourishing, as individuals who avoid wheat are turning to legumes to steer clear of gluten. Over the past decade, advancements in supply chain, warehousing, cold storages, roads, and the implementation of GST have significantly boosted agricultural produce exports.

Suresh Mutha: Our company operates in the shipping, logistics, and infrastructure sectors. Indians have been actively involved in building roads in Africa and the Maldives. Additionally, Indian shipping companies have expanded their operations to places like Singapore, Dubai, and various other locations worldwide. When we first entered the Maldives market in 1986, Indians had a minimal presence in the tourism industry there. However, over time, this has changed, and now there is a growing recognition of the capabilities and skills of Indians in the global market.

Dr P K Jain: The Indian DNA possesses exceptional qualities. Unfortunately, the growth of these qualities appears to be hindered in the younger generation. The education system in colleges has reached its limits, and many individuals from disadvantaged backgrounds are left behind due to the lack of access to quality coaching. If these individuals are provided with proper coaching, our country can witness the emergence of numerous high-quality entrepreneurs.

Madhusudan Agarwal: India’s pharmaceutical industry is thriving, with 50% of its products being exported. Numerous pharma companies have established their presence in India, contributing to its growth. With the presence of intelligent individuals, India has the potential to become a leading economy in the world

Topic: ‘Roadmap to make India a leader in the global economy’

Participation: Gautam Singhania – Singhania Group, Pradeep Rathod – Chairman and MD Cello World, Madhusudan Agarwal – Ajanta Pharma Limited, Suresh Mutha – Mohan Mutha Exports, Vishal Chordia – Pravin Masalewale, Dr P K Jain, Dr Vijay Darda – Chairman, Editorial Board of Lokmat Media Group, proceedings conducted by Prakash Jain – Pokarna Limited

India is the best country: Gautam Singhania


We are speaking about what has not happened but not about what is available. Pradeep Rathod said land purchasing is a problem. However, out of 100 issues, we are speaking about only one issue which is posing a problem. Where will investors get a big market like India? That is why India is the best country in the world. Ethiopia may provide cheaper land, but everything can go waste if the political situation their changes. Prime Minister Narendra Modi says, ‘Mera Bharat ban raha hai.’ We should all contribute to this process of making new India. India is the best country, and I am proud to be an Indian. I will remain in India and will not go anywhere.

Time is changing fast. The challenges of different times are different. Against this backdrop, it is truly gratifying to recognise, on behalf of Lokmat, individuals who have contributed to the economic and social advancement of our nation.

— Dr Vijay Darda

Chairman of editorial board of Lokmat Media Group and former member of Rajya Sabha

Manufacturing industry is a major engine of the economy and job creation, but land acquisition is a big problem. It took me 3-4 years to buy 100 acres of land in Rajasthan. If the government formulates good policies and funds rural areas, the scenario will change for better.

— Pradeep Rathod

Chairman and MD, Cello World

India has a major share in spice exports in the world. The British came here in search of spices for export. India is the largest producer and exporter. To further boost this industry, there should be an efficient farm-to-folk supply chain.

Vishal Chordia,

Pravin Masalewale

Upcoming decade

will be of skill


Opines Mangal Prabhat Lodha: Brainstorming on innovation

How will innovation and skills accelerate employment & growth?

Participation: Maharashtra minister for skill development and entrepreneurship Mangal Prabhat Lodha, director of Solitaire Limited Pramod Ranka, senior consultant of Bombay Hospital Dr Gautam Bhansali, chairman and managing director of Noble Cast Comp Pvt Ltd Nitin Bhagwat, chairman of Pokarna Group Gautam Chand Jain, founder and chairman of Sanjay Ghodawat Group Sanjay Ghodawat, chairman of editorial board of Lokmat Media Group and former member of Rajya Sabha Dr Vijay Darda.

Moderator: Director (strategy and marketing) of Pravin Masalewale Vishal Chordia

Innovation is simple answer to problem: Pramod Ranka

Innovation is not solely limited to technology. It encompasses ability to find a simple solution to a complex problem. In Indian context, true innovation lies in  effective implementation of policy reforms. Prime Minister Narendra Modi has introduced schemes like ‘One Thought in Every House’ and ‘Health Insurance for Every Person’ in the house, which have immensely benefitted the general public. Additionally, strategies like e-commerce, quick commerce, and IBC have proven to be advantageous. For instance, the IBC policy has generated employment opportunities for thousands of individuals and successfully recovered funds for the banks. Therefore, innovation should be understood as  ability to find solutions to challenging problems.

Mangal Prabhat Lodha: The concept of skill development was introduced in our country 10 years back. It marked the first time that the potential of the youth could be harnessed for national progress. Prime Minister Narendra Modi recognised this, and Devendra Fadnavis followed in his footsteps by implementing this system in the state. Efforts are also underway to bridge the gap between job seekers and job providers. The landscape of the state will undergo a transformation in the next 10 years.

Gautam Chand Jain: When I started my business, I directly engaged with customers. There is nothing more valuable for fostering innovation than receiving feedback from customers. Taking this into consideration, I incorporated foreign technology and tailored it to suit the needs of Indians.

< p style=”font-weight: 400;text-align: justify”>Dr Gautam Bhansali: During the period of the Covid-19 pandemic, we were confined to our homes. Even Mumbai’s local trains, which never cease to operate, came to a halt. The age-old adage of ‘Health is wealth’ has always been emphasised. We can progress even if we abstain from food after sunset and wake up before sunrise.

Nitin Bhagwat: India possesses tremendous opportunities in the die-casting industry. We have commenced the supply of alloy wheels for electric cars.

Sanjay Ghodawat: Innovation means the changes that we bring about in our business according to needs of customers. We have seen various stages of revolutions – industrial revolution, information revolution, digital revolution, and the current Artificial Intelligence revolution. Know Yourself (KYS), Know Your Customer (KYC), and Know Your Team (KYT) are key principles of our philosophy.

Nitin Bhagwat: Of the $100 billion die-casting industry worldwide, India has a share of $1 billion with China dominating over 50 per cent of the market. However, post-Covid, there is a shift away from Chinese supplies, presenting an opportunity for India in the die-casting sector. By using Indian technology, we have successfully manufactured and supplied alloy wheels for electric vehicles. India has a great potential to excel in this industry. Vishal Chordia conducted the proceedings of this session.

“In collaboration with MIDCs and prominent organisations, our aim is to educate individuals with the necessary skills required for the work force. We are introducing a programme called, “Skill on your doorstep” where you have the freedom to select your preferred instructor, and the Maharashtra government will provide financial compensation for your chosen course.”

– Mangal Prabhat Lodha

Maharashtra minister for skill

development & entrepreneurship

Participants in the seminar on ‘Defining women’s development in today’s global context’ included (from left) Suresh Mutha, Zelam Chaubal, Ujwal Pagariya, Purva Darda Kothari, Saurabh Gadgil, Amruta Fadnavis, Garima Ranka and Dr Manju Lodha.

Amruta Fadnavis, Dipali Goenka, Shailesh Lodha, Balwant Jain, Prakash Jain, Madhusudan Agrawal and Surya Jhunjhnuwala participated in the seminar on ‘Dimensions of global trade: Changing trends and future opportunities’.

Women empowerment in India still has a long way to go

Dr Manju Lodha: Women need to prioritise themselves. Stand before a mirror every morning and tell yourself that you are the most beautiful woman in the world. Witness the transformation that you experience.

Zelam Chaubal: Around 70 per cent staffers in Kesari Tours are led by women. We have provided women with opportunities in a predominantly male-dominated field of tour leadership.

Saurabh Gadgil: Our clientele consists mainly of women, and 60 per cent of our workforce comprises women. The ability of women to excel in any role is a true testament to equality. Every woman possesses inherent capabilities and does not require any labels.

Amruta Fadnavis: Sourabh’s father had given me a gold bracelet. draw courage seeing at the bracelet during my difficult times.

Garima Ranka: Women empowerment is not the last goal but is a continuous journey. Access to quality education, employment opportunities, and leadership roles in India are all part of women empowerment. Two women scientists made significant contributions to the Chandrayaan mission, despite facing numerous challenges.

Purva Darda Kothari: I have had a passion for jewelry since childhood. I offer a premium selection of jewellery to womenthrough Intria Jewels.Through this venture I not only enhance their beauty but also their personality.

Empowerment should begin at home. My daughter, as well as my two daughters-in-law, are delivering best in their respective roles. Within the exports team, there are 12 talented women. This is a testament to their capabilities.

— Ujwal Pagariya

Founder, Pagariya Group

‘Defining women’s development in today’s global context

Participants: Amruta Fadnavis, Purva Darda Kothari, Dr Manju Mangal Prabhat Lodha, Zelum Chaubal, Saurabh Gadgil, Ujwal Pagariya,  Garima Ranka

Moderator: Suresh Mutha

‘True empowerment only when women’s voice will be heard’

Women empowerment means independent voice, freedom of choice and economic independence. The women would be heard only if their voice is strong and sharp like a weapon. According to UNICEF data, 129 million girls are out of school. From tribal habitats to Africa, women are struggling for several things. According to statistics, 730 million women are victims of some or the other form of violence. True empowerment will be achieved only when girls will be free from violence, every girl gets education and women’s voice will be paid heed.

World’s view about India is changing: Goenka

Amruta Devendra Fadnavis: The present century offers numerous investment opportunities to the youth. However, these days investments in equity and mutual funds have gained priority to secure a prosperous future. It is advisable to diversify investments for maximum benefits. Hence, it is crucial to include the lessons of financial literacy into the curriculum of schools and colleges.

Prakash Jain: Initially, AI technology was not developed as it is seen today. It has made a significant progress over the time. In the near future, we would see the advanced form of AI. Its potential will bring about a revolutionary transformation across all sectors worldwide.

Surya Jhunjhnuwala: Indians are known for their warm hospitality. In recent years, Indian brands have established a strong presence in the industry by offering exceptional service, world-class facilities, and customer-friendly experiences, which has brought pride to India.

Balwant Jain: The current era is dominated by IT, Clouds, and Robotics. A number of young individuals are leading international IT companies today. The field offers immense opportunities, making the upcoming decade heavily influenced by Indian expertise in this sector.

Industries need to lay more emphasis on research and development. This would help in availing benefits of new opportunities faster development in future.

– Madhusudan Agrawal

Vice President,

Ajanta Pharma

Global Trade Dimensions: Changing Trends and Future Opportunities

Participation: Amruta Fadnavis – Banker and Social Worker, Dipali Goenka – CEO, Welspun Group, Shailesh Lodha – Actor and Poet, Balwant Jain – CEO, Optimum Solutions, Prakash Jain – Founder, Inspira Enterprise, Madhusudan Agrawal – Vice President, Ajanta Pharma, Surya Jhunjhnuwala – Founder, Naumi Hotels, Moderator : Gautam Chand Jain – Chairman, Pokarna Group.

Nation on way to overall development: Dipali Goenka

Currently, global discussions revolve only around two issues – India and AI. Over the past decade, India has shown remarkable progress in multiple sectors, leading to an overall development of the country. Entire world had to take cognisance of this significant development. As a result, the world’s perception to look at India has changed. India is now considered as a developed, robust, and steadily advancing nation.

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