Latest News | Need to Scale Up Investments in Roads, Ports, Energy: Kamath

Mumbai, Dec 12 (PTI) Veteran banker KV Kamath on Thursday emphasised the need to scale up investments in roads, ports, telecommunications, and energy, saying it will provide a stable foundation for broader economic growth.

Speaking at the 30th Lalit Doshi Memorial Lecture hosted by the Lalit Doshi Memorial Foundation here, Kamath said he also anticipated interest rates settling at the lower end of the range and inflation remaining well within control.

Also Read | RRB JE Exam 2024 Admit Card Out at rrbapply.gov.in: Hall Ticket for 7,951 Junior Engineer Posts CBT 1 Examination Released, Know Steps To Download.

As India's global importance escalates, its financial muscle is reflected in a stable currency, controlled inflation, and a dynamic economy, said Kamath, who is the Chairman of Jio Financial Services Ltd and former Chairman of ICICI Bank.

Kamath expressed confidence that the strength of India's currency will be more pronounced over the next 25 years, supported by prudent fiscal and monetary policies.

Also Read | What Is Mahila Samman Yojana, Announced by Arvind Kejriwal? Know Everything Including Eligibility, Benefits and How to Apply.

He also emphasised boosting manufacturing competitiveness, thereby enabling India to climb the value chain, create jobs, and become a key hub in global supply networks.

Recounting the reforms and restructuring that began in the early 1990s, he noted how liberalisation, technological openness, and the growth of infrastructure propelled India into a period of sustained economic acceleration, particularly through the early 2000s.

Kamath highlighted how technology and digital platforms have become indispensable growth drivers and projected that over the next decade, digital innovations could add at least 2 per cent incremental growth to India's GDP, setting the stage for double-digit expansion.

Bridging the rural-urban divide by leveraging technology, improving access to credit, and enhancing supply chains will foster inclusive development and equitable growth, the veteran banker said.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)