Making India a middle-income country, will help it to become a USD 10-trillion-economy, said Sanjiv Mehta, Chairman and Managing Director of Hindustan Unilever Limited. Amid the pandemic, HUL chief is talking about a bright future for the country only if it envisages to grab the opportunities on its way.
Speaking at a FICCI event, Mehta said, “We should dream of making India into a middle-income country. We have to cross the chasm from the 6-6.5 per cent, which we have delivered over the last 30 years, to the 8-10 per cent kind of growth that we need to deliver over the decade and a half to take India to a mid-income country.”
He added, “If we can successfully do that, we could very well become a USD 10-trillion-economy in the next 12-15 years.”
At this stage, according to Mehta, the country needs to protect the people. “This is a dream opportunity for us to become the affordable and quality healthcare capital of the world. Just like the Y2K crisis gave a fillip to the IT industry, COVID-19 could give a fillip to the healthcare industry,” said Vice President of FICCI.
He added technology could help completely change healthcare, education could create new business models, jobs, etc. “The opportunity is staring at us, we should grab it as a country.”
Commenting about the COVID-19 crisis, Mehta stated he does not believe it to be a ‘black swan event’. “It is obvious that this is a crisis of huge magnitude. This is not just about an economic crisis; it is a health and a societal crisis too. It will have far-reaching implications for the world at large, “ Mehta added.
Today, the global trade, which at about USD 18 trillion, could possibly decline by 20 per cent, he claimed.