According to Sanjeev Bajaj, CMD, Bajaj Finserv, India has been slipping on the growth trajectory in the last few years and its economy is facing hurdles on various fronts including low demand. He said that many challenges are emerging one after the other due to external factors.
Sanjeev Bajaj said that once the country overcomes the pandemic and Ukraine war, and demand picks up again, the cycle of investment, demand growth, supply and consumption will resume.
Speaking at The Indian Express Idea Exchange on Thursday, Bajaj said the country is in a period of extreme uncertainty and the Russo-Ukraine war is putting more pressure on it.
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He, cautioning that the country cannot tolerate inflation, said, “But let’s hope there is a solution. Maybe then, in a few quarters, you will see strong growth…”
“Even as rates start to rise, we know that our central bank is focusing on both inflation and growth,” he added.
‘Original Make in India’
Speaking about his father, Rahul Bajaj, who passed away last month, Sanjeev Bajaj said that as we can see today, what he was trying to say is how can we make the market competitive. . “He was the original Make in India and today it is a national call. He stood very proudly on that,” he said.
While economists are pointing out that India Inc is looking at consolidation with the big players, Bajaj said that with big successful companies controlling capital, assets and land, the digital world is dramatically changing this equation across sectors. Is.
‘Digital world breaking the chains of old monopoly’
Bajaj said, “The digital world is breaking the chains of old monopolies and driving competition, as consumers are getting more and more options… I really see the days of companies based on their size that success is less and more. It’s getting smaller.”
With its operations focused on the financial services sector, which has faced customer unrest in banks and NBFCs over the past few years, Bajaj appealed for a swift and strong action from the regulator.
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