“Indian Economy
is once again on the growth trajectory with the growth rate in GDP is expected
to move upwards steadily from around 7% currently to at least 8 – 9% in next
few years” said Mr.Adil Zainulbhai while delivering the keynote address at the
Kalyan Banerjee Leadership Lecture organized by Rotary Club of Bombay West on
Saturday, 18th June, 2016 at Rotary Service Centre at Juhu Tara
Road. Rtn. Kalyan Banerjee, Past Rotary International President himself was
present as also Rtn. Subhash Kulkarni, District Governor of Rotary
International District 3140. The Oration was attended by professionals,
businessmen, Academics, students of management institutes and members of
various Rotary Clubs in Mumbai.
Mr.Adil Zainulbhai is on the Boards of large corporations such as Reliance
Industries, L&T, Cipla, etcas also on the Global Advisory Panel of Uber. He
was the first name from the corporate world to be roped in by Prime Minister
Narendra Modi to help his Government as Chairman of Quality Council of
India. In this role, he is assisting the Government‘s plan of “Make
in India” to boost manufacturing and has had the opportunity to work closely
with several Central ministries and bureaucrats during the last 18 – 24
months. According to him, a lot of good work is happening at the
Central Government level with strategic decisions being taken to ensure
development and improvement in quality of lives of 1.25 billion people of
India. He observed that the macro situation on fronts such as
current account and fiscal deficits and inflation rate is good, moderate on
exchange rate front but credit growth and NPAs are causing concern. He analysed
that pain points of international investors related to retrospective
legislation, FDI in sectors such as railways, defence, etc. have been addressed
but insurance and retail direct investments have only been partially addressed.
He commented that the Government’s
policies aim to fulfil India’s economic, social and geopolitical aspirations. He
illustrated this point with a few aspects related to economy with direct
benefit transfer through Jan Dhan and Aadhar, related to citizen services
through Swachh Bharat and related to foreign policy through the PM’s visits and
its impact on FDI and FII investments. The positive results of this work will
take time to percolate down to the ground level, but he was optimistic that if
we relentlessly work with the Government in its ambitious plans, we shall be
able to overcome hurdles and achieve success. To illustrate his
point, he gave the example of Rotary’s fight against Polio – despite several
impediments and stumbling blocks faced by the Rotarians the world over – Rotary
never gave up. And today, the world is very close to be declared
Polio-free. His insightful oration was well appreciated by the audience.
The Kalyan
Banerjee Leadership Lecture has been instituted by the Rotary Club of Bombay
West in the year 2011-12 as a mark of appreciation for Rtn.Kalyan Banerjee who
became only the third Indian to head Rotary International as its President, as
a leader of 1.2 million Rotarians around the world. In two weeks’
time, on the 1st of July, Rtn. Kalyan Banerjee will take over as the
Trustee Chair of The Rotary Foundation. As Chair, he will have the privilege of
leading the activities of The Rotary Foundation during its centennial year in
2017.
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