We need a clear future growth path to sustain momentum over the next 20-25 years: Neelkanth Mishra
Neelkanth Mishra, Chief Economist, Axis Bank & Head of Global Research, Axis Capital, says “in the next three to five years in this same style, we could see very aggressive capex and industrial policy coming in from China and the return on assets, on capital intensive assets in China is already back to 2002 levels. It is quite possible it keeps falling. Imagine then what other countries have to do. Do we have policies to counter that? We need not get overly protectionist, but we need to be very agile in responding to this. Is it ready for this type of global economy which is very different from what we saw from the early 90s to say around 2015-16? There are several new challenges that we need to cope with.”
India of yesterday, India of today and India of tomorrow. Where should we start?
Neelkanth Mishra: Even to understand where we are headed, we need to have some handle on where we have come from and what we have done and where the platform has been set for the growth in the next three to five years. And then of course, the work that we do in the next three to five years will set the stage for what happens in the five years after that.
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