He talked about “opportunities and challenges in the current geopolitical and economic environment” at the Indian Institute of Management in Sambalpur, Odisha.
Speaking to students, Mishra said that during these challenging times, strong economic growth, young population, expanded scope of infrastructure and technological advancements illuminates India’s internal strength. At the same time, India’s geopolitical influence, strategic partnerships, diaspora communities and soft power emphasize its growing global influence, he said.
He said that artificial intelligence (AI), machine learning, blockchain technology and Industry 4.0 are no longer a buzzword in India, but a reality.
Mishra said India needs to create 800-100 million quality jobs each year and be consistent with industry demand.
He said the goal of turning India into a $5 trillion economy by 2047 is not only to achieve gross domestic product (GDP) milestones, but also to lift millions of dollars out of poverty and ensure world-class infrastructure, energy security and digital mandate. India has been the world’s fastest growing major economy over the past four years, with an average annual growth rate of more than 8%. The IMF expects to maintain this status for at least the next two years.Manufacturing RevivalProduction-related incentive programs in various sectors, including electronics, pharmaceuticals and solar, are driving a revival of manufacturing and opening up opportunities for operations, logistics and supply chain strategies, Mishra said.
He said India’s information technology exports exceeded the crucial $20 billion mark and the country’s pharmaceutical capacity remains the lifeline of the world. He also said that India is becoming a global innovation powerhouse. He said that with more than 100 unicorns, it is the world’s third largest entrepreneurial ecosystem.
Mishra stressed Prime Minister Narendra Modi’s call for taking the country to a new level in the process of “reform, execution and transformation”.
He called on students to “become managers who can not only manage businesses, but also values, diversity and change.”
