Dasgupta highlights need for strong technological intervention in health care
India has a great future in supply chain diversification at global level, Peter Rimmele, Resident Representative to India, Konrad-Adenauer-Stiftung (KAS), told the PHD Chamber’s 116th Annual Session on 1 Oct 2021.
While noting the need of supply chain diversification at the global level, he also highlighted the Indo-German relations for cooperation in potential sector for robust growth.
India has the potential to supply largest volume and velocity of data which can benefit countries around the world, added Atantr Dasgupta, Director, South West Asia and Head, Samsung HME.
Data can fuel the economy and so inclusiveness is needed on that front too, he told the session.
Dasgupta also raised the issue of India’s limited budget on health care, pointing out that the country’s spending on health sector is quite low.
“There is huge gap in health care infrastructure, so there is need for strong technological intervention in the building resilient infrastructure for inclusive growth,” he said at the virtual session on ‘India’s Resilience: Converting Recession to Rebound’ which was organized by the PHD Chamber of Commerce and Industry (PHDCCI).
The session also heard views of experts on the Indian economy.
Though the economy is showing signs of recovery, yet there is a wide gap that is building up between the rich and poor as a direct result of the pandemic, noted Dr. D Subbarao, renowned Economist and Former Governor of the Reserve Bank of India.
This rising inequality need to be rectified by adequate measures. Therefore, he said, that in the short term, “we need to focus on exports and government spending while for long term we need all four factors for GDP — consumption, investment, government spending and exports to come together”.
To attain a higher growth and sustainability in the long term, he suggested expanding the government spending to create more jobs and increase the consumption.
Sanjeev Sanyal, Principal Economic Advisor, explained how during the peak of COVID-19, the Indian government emphasised on mobilising available resources.
The business sector has received various incentive packages to keep operations stable through the lockdown, added Sanyal, highlighting the series of mid-size packages supporting businesses.
Despite being adversely affected by the outbreak of the pandemic, significant parts of the economy continued doing reasonably well, he observed. #investment #technology #economy /fiinews.com
