Speaking at an interactive session, Mr Adi Godrej share his thoughts on Indian economy which has demonstrated good growth in terms of controlling inflation and deficits, stabilizing the rupee and creating an environment of confidence whereby a double digit growth rate could be possible in years to come. Projections of a continued good monsoon, could lead to a pick up of rural and urban demand. He was confident that the implementation of the long pending GST shortly, will further boost the country’s GDP by 2 basis points. He also felt that good economic policies of the current government could see India overtaking China and US as the world’s largest economy by 2050 on PPP basis. With India’s demographies of young population also being a positive factor, the growth trajectory could be unimaginably strong at a time when China’s population would be on a decline.
On his groups strong performance all through the years, Mr Godrej felt that the measure of financial growth was based on a concept of Economic Value Added, which was enabled by progressive HR practices in recruitment, and policies of trainings and good remuneration. He said that the group strongly felt that people were the best assets and vehicles to high growth. On the future plans, he said that Godrej group adopts a 10×10 model of growing 10 times every 10 years with a CAGR of nearly 26% through acquisitions and organic growth. This growth comes from domestic as well as overseas businesses which are spread across continents of Africa, Asia and South America.
He also spoke of the intertwining of the CSR activities which went beyond the philanthropy. The Group invests major amounts in training and developing skills amongst the constituents , while doing in CSR activities. The Groups’ major thrust areas are in enhancing education levels and protecting environment.
Earlier, Mr. Dilip Piramal, President, IMC termed 31st May as a historic day for the Chamber while welcoming Mr. Adi Godrej, Chairman, Godrej Group which is associated with decades of trust and quality to every Indian.