Uday Kotak Advocates for India's Financial Self-Reliance

Uday Kotak emphasized the need for India to reduce reliance on foreign capital and cultivate domestic long-term risk capital for economic self-reliance. Speaking at a CII event, Kotak urged companies to focus on sustainable growth over short-term earnings and highlighted the importance of strengthening India's financial foundations to withstand global uncertainties.

Finance industry pioneer Uday Kotak urged India to prioritize building a robust domestic pool of long-term risk capital to achieve true economic self-reliance, rather than depending on foreign capital. Speaking at a CII event, Kotak advocated for focusing on sustainable business practices to strengthen the country's economic foundations.

Kotak highlighted the need to move beyond short-term profits and quarterly earnings, pressing companies to think with a three-to-five-year perspective. He noted the increased participation of domestic investors in capital markets post-pandemic and urged companies to reinvest profits into growth rather than manage large treasuries.

In response to global economic fragmentation, Kotak stressed the importance of reinforcing India's economic fundamentals, such as boosting domestic production and reducing import reliance. He also emphasized the role of mutual funds in fostering a domestic equity culture and called for enhancing the private equity and venture capital ecosystem to drive long-term economic growth.