India to Lead Global Growth: Insights from Kotak International India Summit

At the Kotak International India Insight Summit in New York, Nilesh Shah, Managing Director of Kotak AMC, painted a compelling picture of India’s rising global economic influence. Despite its contradictions, India is rapidly advancing and is poised to become the engine driving worldwide growth in the near future.

India’s Unique Investment Landscape

Shah highlighted that India stands out as the only major economy where foreign investors hold the largest stakes in key sectors like banking, automotive, telecom, FMCG, and asset management. In contrast to other countries, India embraces foreign companies such as Meta, Google, X, and Amazon, signaling strong confidence in its market and regulatory framework. Last year alone, India attracted $81 billion in foreign direct investment (FDI), accounting for roughly 5% of global FDI inflows.

Robust Gold Consumption and Wealth Creation

Over 25 years, India has purchased over $500 billion worth of gold, reflecting both high consumer demand and rapid wealth generation. This immense consumption underlines the country’s growing affluence and investment potential.

Technological Advances and Healthcare Leadership

India’s tech sector is marked by remarkable milestones. Startup Agnikul Cosmos created the world’s largest single-piece 3D printed rocket engine, and ISRO’s cost-effective lunar landing at the Moon’s South Pole alongside launching 104 satellites in a single mission set new global records. In healthcare, Hyderabad’s Genome Valley hosts the world’s highest concentration of FDA-approved pharmaceutical factories, contributing 40% of generic medicines supplied to the U.S.

AI and Digital Inclusion

While India has not developed a major foundational AI model yet, partnerships like those between Jio and Airtel have brought AI access to over 800 million people. This has enabled the creation of human-like open-source AI assistants like Maya-1 and Luna.

Embracing India’s Contradictions

Shah remarked that statistics alone cannot capture India’s essence. The country’s strength lies in its contradictions and dynamic pace. Understanding and embracing this unique blend is key to truly becoming part of India’s growth story.