The Morning Brief ET CEO Roundtable
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Dec 16, 2025 In this insightful discussion, Uday Kotak, founder of Kotak Mahindra Bank, emphasizes the importance of political stability and long-term investment for India’s growth. Abhishek Manu Singhvi, a senior lawyer, highlights the urgent need for judicial reforms and timelines to enhance contract enforcement. The conversation explores the paradox of strong economic indicators juxtaposed with concerns over private capex and R&D underinvestment. Panelists also celebrate rising rural incomes and the entrepreneurial spirit emerging beyond major metros.
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Macro Strength vs Private Capex Gap
- India shows strong macro signs: high growth, low inflation and rising FDI commitments.
- Yet private capex lags and state spending still carries much of growth.
Rural Affluence Rising
- Rural India still houses 65% of the population and is shifting toward higher affluence.
- Rural wages and female workforce participation are rising, boosting consumption potential.
Scale Meets R&D Shortfall
- India's scale (1.5 billion consumers) gives companies heft to become global players.
- Private R&D spending remains very low and undermines long-term competitiveness.