India Needs to Build Domestic Risk Capital, Cut Foreign Reliance: Uday Kotak

In order to achieve real economic self-sufficiency, veteran banker and Kotak Mahindra Bank founder Uday Kotak has advised India to lessen its dependence on foreign capital and develop its own domestic risk capital.

He stated at a Confederation of Indian Industry (CII) event that a truly self-reliant nation is one that does not need to depend on somebody else’s money or power. India must fortify its domestic economic base, he argued, as the world environment grows more divided and nations place their own strategic interests first.

Also Read

Amazon Summer Sale: Samsung Galaxy S25 Ultra Sees Over Rs. 30,000 Price Cut, Check How to Get the Deal

Amidst Heat Wave, Mumbai To Face 10 Percent Watercut, Check Out Details

Can We Extend PF Account after Maturity? Know Options and Benefits

Next, he gave a reality check by saying that many companies have become unduly obsessed with quarterly profits, stock prices and employee stock option gains, rather than concentrating on creating businesses with a three-to five-year outlook.

He acknowledged that India’s macroeconomic situation has improved significantly, with a lower current account deficit and stronger foreign exchange reserves, but he cautioned that vulnerabilities still exist, particularly if there is a sharp increase in oil prices or a reversal in foreign capital flows.