Indian Economy Is Very Resilient And It Is Heading Towards A Brighter Future, Says Award Winning Entrepreneur And Author Sankhadeep Dutta
India is heading towards a much brighter future, and I have no doubt that India will become USD 10 trillion economy by 2033-34.
New Delhi (India), March 17: As the global economy faces various headwinds and crises, with the recent one being the precipitous meltdown of Silicon Valley Bank and Signature Bank, many investors and entrepreneurs in India are left with the question, "What does it mean for India and our banking system?" So there is no doubt about the fact that we will face its ripple effect as investors, but that will be confined to the market level only.
As far as the banking system is concerned, I don't see any risk there because the implementation of the Basel III norms for the banking system has been carried out in India, which requires the maintenance of liquidity Coverage Ratio( LCR), which is designed to ensure that the banks hold a sufficient reserve of high-quality liquid assets which can be converted to cash to meet its liquidity needs.
This itself has made sure that our banking system stays resilient even if there is some significant liquidity stress. So I will definitely say is a fact that in the short run, there will be challenges owing to the challenging global economic environment, but the fundamentals of the Indian economy remain very strong.
India is heading towards a much brighter future, and I have no doubt that India will become USD 10 trillion economy by 2033-34. We are living through a great transformation of the Indian economy, we are witnessing tremendous value creation and value migration, a rise in per capita income, infrastructure proliferation and many other things. All of these are making India and the Indian economy a shining spot, and I am extremely bullish on India.
