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Tamil Nadu
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Coimbatore
Y.S. Rajan, Principal Advisor of CII COIMBATORE: It is true that there is a temporary setback to the world economy and also Indian economy. All the best brains of the world and in India too are being applied to recover the growth momentum of the past 15 years, Y.S. Rajan, Principal Advisor, Confederation of Indian Industry, said here recently. Delivering the graduation address on “Years Ahead: Hopes and Challenges” at the RVS College of Arts and Science, he said the end of 2008 brought a global financial crisis. There was a major change in the American outlook to its own economy and society and its approach to the world. “Instead of considering the major changes as threats to the growth of India, it is possible to use these opportunities to restructure the growth of India. At present, India can be broadly divided into rich Indians, middle class Indians and those struggling to live a reasonable life. Many financial resources are being deployed around them. Many more businesses will focus on the needs of the bottom 700 million Indians and the bottom sections of the 400 million middle class Indians,” Mr. Rajan said. Indians were not merely imitative, and blind followers have a huge opportunity here. They could find global partners in the United States, Europe, Japan, etc., to create products and services for India and also for them. There would be many such new types of joint venture companies, he added. “Next 15 years are going to be a period of great change. I have termed that period as a period of fast cataclysmic growth. It is essential that young graduates are prepared for the new future. A new future is shaping without being visible,” he told the new graduates.
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