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Exclusive | Amitabh Kant: If BYD can take on Tesla, why can’t Tata and Mahindra?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Amitabh Kant’s statement comes just days before the highly anticipated Indian visit of Tesla CEO Elon Musk as the global EV leader battles a slowdown in its key markets, the US and China. The Indian government is hopeful that Tesla’s investment will help position the country as a hub for EV manufacturing.

Expressing his optimism about the future of the electric vehicle (EV) market in India, Amitabh Kant, India’s G20 Sherpa and former CEO of NITI Aayog stated, “I’ll be truly delighted if the new EV policy leads to many Indian companies, such as Tata and Mahindra, challenging Tesla in the market and even surpassing it both domestically and internationally.”

In an exclusive interview with CNBC-TV18, Kant said he believes that by 2047, India will provide almost 30% of the world’s skilled manpower. He emphasised the need for increased competition among the states.

Kant’s statement comes just days before the highly anticipated Indian visit of Tesla CEO Elon Musk as the global EV leader battles a slowdown in its key markets, the US and China. The Indian government is hopeful that Tesla’s investment will help position the country as a hub for EV manufacturing.

Also Read: Tata Motors to manufacture JLR cars in Tamil Nadu

Kant also pointed out the potential of Indian companies to compete with global giants like Tesla. He said, “It’s quite possible. If BYD can take on Tesla, people don’t realise that BYD controls the EV market. These are companies that should all think globally. Once you start thinking global, you will penetrate global markets, but you will do a lot of good to the Indian consumers.”

Kant stated that Tesla would face stiff competition in India and it will do good to customers.

“The Indian consumer is going to benefit in a big way because there will be competition as far as electric vehicles are concerned. And competition will lead to better products and it’ll lead to prices coming down for electric vehicles.”

Kant also highlighted the need to support two-wheelers and three-wheelers, which comprise 70% of the Indian market. Kant had recently stated that combustion vehicles will eventually die out and the future will be dominated by electric vehicles charged with renewable energy.

Also Read: Tata Punch tops March sales, Hyundai Creta close second, Maruti slips to No. 3 for the first time

While pointing out the challenges in the Indian market, such as the high import duty on automobiles, Kant praised the government’s strategic move to reduce the import duty.

“We are going to reduce the import duty so that you can bring vehicles and test out the Indian market. But we’ll do it only if you will, in the long run, do manufacturing in India, the import should actually lead you to manufacturing in India, that’s the objective. So it’s strategically a very good move.”

Kant emphasised the need for a large number of charging stations in India and commended Tesla for opening up its IP for the charging stations, making them interoperable.

“The good thing is that Tesla has opened up its IP for the charging stations and made it interoperable. Several other vehicles can also get charged on the Tesla charging stations.”

Also Read: Indian auto industry sees 12.5% rise in domestic sales, SUVs lead with 25.8% growth: SIAM

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Starlink could improve internet connectivity in rural areas: Amitabh Kant

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Sources had earlier told CNBC-TV18 that Elon Musk is eager to enter India with his Starlink satellite-based broadband internet services, and that plan could also be announced during this visit.

India could benefit from Elon Musk-led Starlink’s satellite-based internet services, G20 Sherpa Amitabh Kant, who co-authored a new book, The Elephant Moves, with Amit Kapoor, Chairman of the Institute of Competitiveness, told CNBC-TV18 during an interview.

“There’s a huge possibility of tapping into Starlink. He has 5,700 satellites orbiting around the earth, and it will be possible to provide good quality satellite-based internet services to all people living in rural areas in India. That is a very major fallout for us, in terms of providing good technology to people in all our tier II, tier III and rural areas. So, that’s huge,” he said.

SpaceX and Tesla CEO Elon Musk is confirmed to be visiting India on April 21 and 22. Sources had earlier told CNBC-TV18 that Elon Musk is eager to enter India with his Starlink satellite-based broadband internet services, and that plan could also be announced during this visit.

Preparations are reportedly underway. The government is said to have given clearance to Starlink, with approvals in the final stages, sources said. SpaceX’s Starlink owns around 60% of the roughly 5,700 satellites orbiting Earth.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Tesla’s India move long overdue, but it will face stiff competition: Amitabh Kant

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Elon Musk’s long-awaited visit to India includes a meeting with Prime Minister Narendra Modi, where he’s expected to unveil Tesla’s $2-3 billion investment plan. G20 Sherpa Amitabh Kant highlights India’s shift towards electric vehicles, noting that Tesla’s entry, while welcome, will face spark competition from domestic players, ultimately benefitting consumers.

Elon Musk, the CEO of Tesla, is making his much-anticipated visit to India and has confirmed his intention to meet with Prime Minister Narendra Modi during his stay. Sources suggested to CNBC-TV18 that Musk will announce an investment plan of $2–3 billion for Tesla in India, wherein the electric car manufacturer will not only make cars for the country but also export them to global markets.

Against this backdrop, G20 Sherpa Amitabh Kant, who co-authored a new book, The Elephant Moves, with Amit Kapoor, Chairman of the Institute of Competitiveness, told CNBC-TV18 in an interview that this has been a long time coming.

“This has been on the table for a long time because the world is going through a disruption in terms of automobiles. We will move from combustion to electric vehicles. And if you look at what has happened in America, and China in particular, I think we have to move towards this,” Kant said.

According to Kant, Musk’s focus will be not merely on manufacturing electric vehicles for India but for global markets as well. However, Kant said Tesla will face stiff competition from domestic players, which will benefit consumers in the long run.

“Tesla is going to face tough competition in India because the Tatas are coming up with a number of new electric vehicles and … Mahindra’s new vehicles will also come. So the Indian consumer is going to benefit in a big way, because … competition will lead to better products and prices coming down for electric vehicles,” he said.

On Thursday, April 18, Finance Minister Nirmala Sitharaman said Tesla setting up shop in India will send a positive signal to the world. “If a big manufacturing giant shows interest in manufacturing in India, it gives a positive boost to the manufacturing environment here. If hi-tech companies are coming to India, it means our policies are correct and it is in India’s interest as well to export overseas,” Sitharaman had said.

Tesla has the advantage of being among the first companies in the world to make mainstream electric vehicles. The company is nearly synonymous with EVs. It has the advantage of brand recall, established plants globally to come up with cutting-edge technology, proven performance, a global charging network, control of its supply chain, from battery production to vehicle assembly, ensuring quality and efficiency, and financial resilience.

It also has the first-mover advantage, which allows it to capture new markets with aggressive expansion strategies and business models, such as direct-to-consumer sales and subscription services.

Kant also said India’s new EV policy will help smoothen the road for Tesla. The newly introduced policy offers a range of incentives, including reduced customs duties and import limits tied to investment commitments, to entice global manufacturers to establish production facilities within the country.

“I think a very strategic move is being made that we are going to reduce the import duty so that you can bring vehicles and test out the Indian market, but we’ll do it only if you, in the long run, manufacture in India—the imports should lead you to manufacture in India,” he said.

The challenge, per Kant, is creating the infrastructure to support long-distance travel—charging infrastructure is currently a constraint for EVs in driving long distances.

“In the long-distance transport segment, green hydrogen will play a role, but in two-wheelers, three-wheelers, and four-wheelers, it will be electric vehicles all the way. Now the challenge for India will be creating a mass number of charging stations—you need over a million charging stations in India … the good thing is that Tesla has opened up its IP for the charging stations and made it interoperable, so a number of other vehicles can also get charged on the Tesla fast charging stations,” he said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Combustion engine is ‘dead’, expect a big disruption in mobility after elections, says Amitabh Kant

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Speaking at the launch of Ather Energy’s new family scooter on Saturday, April 6, Kant asked the industry to be ready for an even bigger disruption in mobility after the general elections.

The G20 Sherpa and Former CEO of Niti Ayog Amitabh Kant has urged the automobile industry to work towards a 100% transition to electric mobility in two and three wheelers. “ICE is a dead technology. The future is all electric and all companies must work towards that or risk losing market share”, Kant said at the launch of Ather Energy’s new family scooter on Saturday, April 6.

Amitabh Kant said that the Indian government had already provided incentives to the tune of ₹55,000 crore to the automobile industry to make electric vehicles and now its time to aim for 100% electrification in two and three wheelers by 2030. He also asked the industry to be ready for an even bigger disruption in mobility after the general elections.

Also Read: Ather launches a family scooter at ₹1.10 lakhs, here’s what you need to know 

Kant said brands like Ather must not just think domestic but look at aggressively exporting to global markets, as exports was closely linked to India’s future growth. He also said that India must have a robust charging infrastructure which should not be anyone’s monopoly.

At a time when some electric vehicle makers are indulging in heavy discounting to drive up volumes, Kant had a piece of advice for EV startups. “Never burn cash to sell your product. Don’t give deep discounts or sell cheap. Focus on building great value for customers,” he said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Amitabh Kant spells out roadmap for future growth, says need to take people away from agri

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

G20 Sherpa Amitabh Kant noted that the challenge with India is that 42% of the population is employed in the agriculture sector, which contributes 18% to the nation’s total GDP.

The next phase of India’s story has to be from states carrying out radical reforms, India’s G20 Sherpa Amitabh Kant said at an event at the Confederation of Indian Industry on March 21.

Kant noted that the challenge with India is that 42% of the population is employed in the agriculture sector, which contributes 18% to the nation’s total Gross Domestic Product (GDP).

We need to take people away from agriculture and into other fields,” he said, adding that there is a need to create more smart cities, led by manufacturing that will create good quality jobs.

Emphasising the many trends shaping the country, Kant said fertility rates have declined, and the population will not grow at the same level. “More people using the Internet in rural areas; will see close to 400 million Indians getting into the process of urbanisation over the next decade.”

He, however, noted that the urbanisation has to be done sustainably.

According to the former NITI Aayog CEO, manufacturing will give India the size and scale to penetrate the global trade market.

“India needs to grow its share to 5% of global trade and for that, we need to grow manufacturing which is what we are doing via PLI.” He asserted that it is not possible for India to become a $35 trillion economy without a huge focus on education, health and nutrition.

On the growth of small and medium-sized enterprises, Kant said, “We need 1,000s more Adanis and Ambanis for our SMEs to grow.” He emphasised that the government has done a lot in terms of credit and tech for SMEs. “Large companies now link themselves with smaller companies.”

Kant believes that artificial intelligence will boost India’s GDP by a trillion dollars. “Indian companies are lagging in AI adoption and maturity. No country has the power of data that India has; AI should become very critical to our growth,” he said.

This is India’s decade and century, he remarked.

Also Read: Rising Bharat Summit 2024: Prasoon Joshi and Amitabh Kant discuss brand ‘Bharat’

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Budget 2024: Infrastructure-led growth to be the cornerstone of India’s economic future, says Amitabh Kant

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Amitabh Kant’s advocacy for an infrastructure-led growth story resonates with the current government’s fiscal policies, emphasising the importance of strategic investments in infrastructure to drive India’s economic growth sustainably in the long run.

Amitabh Kant, the G20 Sherpa and former CEO of NITI Aayog, expressed his belief in the transformative power of infrastructure for India’s economic growth.

“I’m not a great believer in a consumer-led growth story. I’m a great believer in an infrastructure-led growth story,” Kant stated in an interview to CNBC-TV18.

According to Kant, the key to achieving sustained growth rates of 9-10% lies in an unwavering commitment to developing robust infrastructure.

Kant’s vision aligns with the recently unveiled interim Budget for 2024 by Finance Minister Nirmala Sitharaman. According to Kant, the budget, presented on February 1, reflects the government’s confidence in a strong comeback and commitment to fiscal discipline. The fiscal deficit, a crucial economic indicator, is projected to be at 5.1%, with a clear roadmap towards reducing it to 4.5% in the subsequent year.

“I was quite impressed by the fact that it’s talking about fiscal deficit at 5.1%. And then laying down a clear roadmap for 4.5% in the subsequent year. And I think that’s really critical because that would really mean that the government will borrow less and interest rates should come down,” remarked Kant.

He believes that lower interest rates will enable the private sector to access resources at more favourable terms, ultimately catalysing a significant uptick in private sector investment.

Kant also commended the budget for its focus on rural development through infrastructure projects. He highlighted the potential benefits of creating roads, introducing electric buses, providing rural housing, implementing rural solar rooftop initiatives, and ensuring piped water connections in rural areas. These initiatives, according to Kant, will not only enhance infrastructure but also generate consumer demand by uplifting the rural population.

Click here for live updates on the Interim Budget 2024

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Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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UP govt approves Amitabh Kant Committee proposals; likely to provide relief to homebuyers

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Some industry estimates have pegged the number of stalled homes in Noida and Greater Noida to around 1.50 lakh, with citizens’ groups and homebuyers’ associations in the twin cities frequently holding protests demanding implementation of the recommendations of the Amitabh Kant Committee report.

The Uttar Pradesh cabinet on Tuesday approved the implementation of recommendations from the Amitabh Kant Committee report on real estate projects, in a move that could bring relief to lakhs of homebuyers in the state. The approval came after a proposal of the Industrial Development Department for the resolution of legacy stalled housing projects, cabinet minister Suresh Kumar Khanna said during a press briefing in Lucknow.

“The cabinet has approved the implementation of the recommendations of a central committee headed by Ex-CEO of Niti Ayog Amitabh Kant,” said Khanna, the state’s Minister for Finance and Parliamentary Affairs.

“For this, two main points were considered that buyers interest was taken into account. Those who have bought homes should get its possession and registry immediately,” he said.

Along with this, the Cabinet has approved implementation for ‘zero period’ relief to homebuyers as mentioned in the recommendations of the report, he said. However, these approvals do not apply to commercial, sports, or entertainment projects but to all others, the minister added.

Citing an estimate by the Indian Banks Association, there are about 4.12 lakh homes across the country that could not be completed due to the poor financial status of the developers. “Of these stalled homes, around 2.40 lakh are in the national capital region, including Noida and Greater Noida,” Khanna said.

Some industry estimates have pegged the number of stalled homes in Noida and Greater Noida to around 1.50 lakh, with citizens’ groups and homebuyers’ associations in the twin cities frequently holding protests demanding implementation of the recommendations of the Amitabh Kant Committee report.

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nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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IBLA 2023 19th Edition: Amitabh Kant celebrated for Outstanding Contribution to Public Service

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Amitabh Kant’s recent role as India’s G20 Sherpa was particularly impactful. He chaired over 300 meetings, amounting to more than 200 hours of negotiations, leading to the successful delivery of the Delhi Declaration.

Amitabh Kant, a name synonymous with India’s administrative excellence and visionary leadership, has been celebrated for his ‘Outstanding Contribution to Public Service’ at the 19th edition of CNBC-TV18’s India Business Leader Awards (IBLA), held in Mumbai on December 2.

Kant’s illustrious career, spanning over four decades, is marked by pivotal roles ranging from the Department for Promotion of Industry and Internal Trade (DPIIT) Secretary to the CEO of the Niti Aayog, and most recently, as India’s Sherpa to the G20.

Throughout his tenure in various capacities, Kant has been the driving force behind several national campaigns that have left a lasting imprint on India’s socio-economic landscape. These include the well-known initiatives such as Make in India, Startup India, and the tourism-boosting Incredible India.

Notably, as a 1980 batch Kerala cadre IAS officer, he was instrumental in coining the slogan ‘God’s Own Country’, which significantly enhanced Kerala’s tourism potential.

During his time as the DPIIT Secretary from 2014 to 2016, Kant played a crucial role in streamlining the Ease of Doing Business initiative. He continued his transformative leadership as the CEO of NITI Aayog from 2016 to 2022, where he spearheaded the Aspirational Districts Program and robustly supported the startup ecosystem and the adoption of electric vehicles. His tenure was marked by a strong emphasis on driving investments into India, notably through the production linked incentive (PLI) scheme.

Amitabh Kant’s recent role as India’s G20 Sherpa was particularly impactful. He chaired over 300 meetings, amounting to more than 200 hours of negotiations, leading to the successful delivery of the Delhi Declaration.

His leadership was pivotal in ensuring the success of India’s G20 Presidency, making it a pan-India event with meetings among global leaders across several states and UTs. Kant’s efforts in this role were not just about managing a global summit but also about positioning India as the leader of the Global South, showcasing the nation’s collaborative approach, and its ability to convene and execute at the highest levels.

Beyond his administrative prowess, Kant is also an author, having penned books like ‘Branding India: An Incredible Story’, and ‘Incredible India 2.0’, contributing significantly to the global perception of Brand India.

His work in public service goes beyond mere governance; it is about creating and sustaining narratives that have shaped India’s image as a burgeoning economic power, a vibrant tourist destination, and a voice of reason on the global stage.

CNBC-TV18’s recognition of Amitabh Kant is a tribute to a career dedicated to the nation’s progress and its standing in the world community.

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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India needs to go electric, says Amitabh Kant

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

A recent report released by the Confederation of Indian Industry (CII) on ‘Charging Infrastructure for Electric Vehicle’ pointed out that India may need a minimum of 1.32 million charging stations by 2030 to facilitate the rapid adoption of electric vehicles (EVs).

Former NITI Aayog CEO Amitabh Kant has underscored the urgent need for India to align with the global shift towards electric mobility as the nation strives to reduce its carbon emissions by 30 percent by 2030.

Speaking at the Annual General Meeting (AGM) of the Automotive Component Manufacturers Association (ACMA), Kant emphasised the growing global trend towards electric vehicles (EVs) and stressed that India must not lag behind in this transformative journey. He said, “The world is going electric, and it is imperative for India to follow suit.”

Kant urged the country to adopt a forward-thinking approach and explore innovative, sustainable fuel solutions. He stressed the significance of expanding domestic battery manufacturing capabilities, noting that battery production plays a pivotal role in the adoption of electric vehicles.

Additionally, he highlighted that developing a robust battery manufacturing ecosystem in India would not only reduce dependence on imports but also create substantial employment opportunities.

A recent report by the Confederation of Indian Industry (CII) on ‘Charging Infrastructure for Electric Vehicles’ indicated that India may require a minimum of 1.32 million charging stations by 2030 to facilitate the rapid adoption of electric vehicles (EVs). As part of its goals for 2030, the government aims for EV sales penetration of 30 percent for private cars, 70 percent for commercial vehicles, and 80 percent for two and three-wheelers.

Biofuels – The future

Kant predicted a substantial shift toward biofuels in the four-wheeler (4W) segment. He highlighted the environmental benefits and sustainability of biofuels, indicating that they would play a vital role in reducing emissions and achieving India’s climate goals.

Green hydrogen, Kant added is a crucial element in the transition to clean energy. However, he acknowledged that the cost of green hydrogen needs to be significantly reduced to drive adoption. ”

Our target should be to bring down the cost of green hydrogen to $1 per kilogram by 2030,” he added.

The Government of India last month gave the green light to the National Green Hydrogen Mission. The mission, which aims to promote the production and utilization of green hydrogen, is poised to play a pivotal role in reducing the nation’s carbon footprint and advancing its commitment to renewable energy sources. Read more on this here 

Kant also emphasized the need for a swift transition to electric mobility in the two-wheeler (2W), three-wheeler (3W), and four-wheeler (4W) segments. He underscored that this transition is not a choice but a necessity to reduce air pollution, combat climate change, and secure a sustainable future for India.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Climate, energy, and geopolitics were key challenges at the start of G20 summit, says Amitabh Kant

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Amitabh Kant, India’s G20 Sherpa, has revealed insights into the process behind crafting the Delhi declaration. Notably, during the discussions, it was a strict policy that no Sherpa carried a mobile phone. They engaged in a remarkable 200 bilateral meetings and meticulously prepared 15 drafts before arriving at the final declaration.

Amitabh Kant, India’s G20 Sherpa, has revealed insights into the process behind crafting the Delhi declaration. Kant described this endeavor as exceptionally challenging and intricate, yet he remained resolute in pushing the boundaries.

He pointed out that his previous exhaustive work on various other issues left only the daunting challenges of climate, energy, and geopolitics to tackle. To maintain confidentiality, the Sherpas were secluded in Manesar, located nearly 60 kilometers outside Delhi.

Stringent measures were taken to prevent information leaks, especially during discussions on geopolitics, where attendees were prohibited from having mobile phones. Their sole means of communication with their leaders was taking minimal notes. This strict confidentiality was imperative because any leaks to the media regarding the draft documents had the potential to disrupt the entire geopolitical agreement. Thus, keeping the process behind closed doors was of paramount importance.

Here are edited excerpts:

Q: I want to start with that afternoon on Friday, where you had that press conference, you were sitting there, the Foreign Secretary was there, G20. coordinator, Harsh Vardhan Shringla was there and everyone kept asking you the same question. Will you arrive at a consensus or not? At that point, when I looked at your body language, you were of course saying the right things that you would be able to hammer through a consensus but your body language suggested that you weren’t that confident, am I right?

A: Well, it was very tough. It was very complex, but I was very sure that I will push it to the limits. The good thing was that I had already worked very hard on all other issues. So the challenge left was climate, energy and geopolitics, of course. So we had sealed, when the Sherpas came into Delhi, we took them almost 60 kilometres out of Delhi to Manesar, we close them up. We ensured that there was no leakage of information and every time we had a meeting on geopolitics, we ensured that no one came with a mobile phone. So there were no mobile phones. They could only take a little bit of notes to convey to their leaders. The challenge was if there was if the drafts were leaked out to the media, then the whole geopolitical settlement would get wrecked. It was very important to keep it in closed doors.

Q: How many drafts were there?

A: I think we worked through about 15 drafts, we started off on the – they all came in on third. The Sherpas had come in by the fourth morning and we started on the fourth morning with a blank screen and the drafting session, because we could have started with Para III and IV of Bali. But I was quite sure if we start with that we will never achieve consensus. So we had to start afresh. So I said keep III and IV in your mind. But we will do fresh. So we took the screen and I drafted 15 principles, I dictated 15 principles in front of them. And then I asked them what they wanted to add. So the G7 added a number of more things and then China added a few things and then emerging markets added a number of things and then Russia added. So we had a number of things and after hearing everybody and the process of drafting was going right in front of everyone, all the 20 Sherpas. And then I said, will prepare a draft and I told them that India, Brazil, and South Africa are going to work together. These three Sherpas are going to work together and we will prepare a draft based on the inputs received, which will be a balanced draft, taking everybody’s views into consideration.

The very next day, we worked all night and we came back with a revised draft in the morning. When we had a meeting these people had different viewpoints, many more viewpoints. We listened to everyone and these drafts went up and down about 15 times. In addition to the 15 drafts, we also had several rounds of bilateral. I think I must have held about 200 bilaterals. In that period from morning to night, I used to meet all the Sherpas individually, from morning to night, so all the G7, then emerging markets, then China, then Germany, it was very important to explain to them and also important to understand their red lines, also important to tell them that we are going to do a fair transparent job. We kept listening to everyone, hearing everybody and telling them what the challenge from the other side was. And then we kept moving the draft, we kept going through it and everybody had challenges. But finally, after many, many rounds of discussion, bilaterals, etc. and I presented it in the morning. There were still many, many issues from the side of G7 as well as from Russia. And finally, we heard everybody out.

We took the draft we sent it to Moscow. They had a number of issues. They had a number of issues on this because we had brought in direct principles of territorial acquisition of territorial integrity, of sovereignty, of political independence. Also, it is important to understand that the statement recalls Bali, and then it takes it to another level and then says that there must be territorial integrity, there must be sovereignty, there must be political independence, there should be no territorial acquisition. So actually, it’s a far stronger statement than Bali ever was.

Q: Ukraine doesn’t see it that way?

A: Ukraine may not, but you have to read it, along with Bali. Ukraine once outright condemnation, it can’t be that G20 starts condemning, deploring its own member. Even in Bali, it did not do that, it used the UN resolution to condemn, but we have quoted the UN resolutions also. So we got the UN resolution, we recall Bali, and then we move on into the strong principles. Our view was that it’s important at this point of time to bring moderation. Emerging markets got together to say that for us, developmental issues are more important, and growth issues are more important. SDG implementation is far more important than just focusing on one issue of the war.

We kept telling the G7 that for you war may be important, but for us growth, development, progress, implementation of SDG, digital transformation, all this is really the key to the future. If we are not able to handle these issues, we don’t want to touch the issues of geopolitics.

Finally, we were able to convince them, but to my mind, the reading of the geopolitical paras is very, very strong, it’s very leaders-like. In a leader statement, you don’t get the voting pattern, you just don’t start seeing some, many, few, which had happened, because there was no other option. But I think we have moved on from Bali, we have moved on from Bali into a statement, which is truly, where the ethos is Indian because it also talks about one earth, one family, one future. It also talks about today’s era not being of war, that’s how it ends up very strongly.

So to my mind, it’s a very, very strong statement and it’s important for people all across the world to read it again and again realising that it recalls Bali, realising that it also quotes the UN resolutions, realising also that it pins down everyone in the world, including Russia, to not have territorial acquisitions, to have territorial integrity, to have political independence and to have sovereignty of nations.

Q: You said in many ways, that it was the emerging world that came together because they saw this as an inflection point that look, we need to focus on priorities that are important to us. But what did it take to actually get the G7 to see it that way?

A: So one is that constant talking, constant interaction with the G7 that we believe in certain principles, we believe in the UN charter, we believe in the UN principles and we wanted to reiterate that. We also recall Bali it’s not that we don’t recall Bali. We also reaffirm the UN resolutions all is there. So you don’t have to repeat Bali all over again. You had moved on. We are a year on and we have seen that the Bali statement didn’t even last 30 days. You know from the first meeting till the 14th we have had the Bali para, we have not been able to have consensus on the Bali para. We wanted a resolution which will have longevity, which will stand the test of time, which both sides will really understand. I don’t think this kind of work could have been done by the UN Security Council or the United Nations what India has been able to achieve.

Q: Why do you believe that’s the case? Why do you think that India was able to do what you believe the UN Security Council would not have achieved?

A: I think because India was a voice of moderation. India brought Brazil, South Africa, and Indonesia together. We brought all the emerging markets together. We brought Saudi, we brought Mexico, we brought Argentina, all of them together. And finally, we brought China together into this and we put pressure and everyone agreed and 20 countries agreed on the Russia-Ukraine issue – unbelievable.

Q: On China specifically and you said that Moscow had a lot of problems even with the final draft that was finally put out, but what about China and the fact that China came on board?

A: So China, we were constantly in discussion with them bilaterally. We had had several rounds of discussion. They had told us that they would agree to this, in case Russia agreed. They were fully backing Russia, they would have not agreed to this if Russia had not agreed. And when had convinced Russia entirely that it was good for them to fall in line. They had issues till about 3:30 in the morning. So we had to spend time with the negotiators till 3:30 am in the morning. We convinced them finally, and then we told the Chinese that the Russians had agreed, so the Chinese agreed, but they had a bilateral issue with the USA.

They said that they will agree to this only if that bilateral issue was settled with the United States. It had nothing to do with this resolution, it was some other issue. Then we made the Americans and the Chinese sit down in the morning after the meeting had started, the meeting, we had a resolution on this. We had a resolution and everything else. However, the bilateral issue between the US and the Chinese are not being sorted that also we sorted.

Q: So on Saturday morning got resolved that is what finally led to the breakthrough?

A: That led to the breakthrough and we ensured that the Chinese and the US bilateral issue also got sorted out. And we played a key role in that as well.

Q: Many people are calling you the weapon of mass diplomacy. That is what Anand Mahindra has tweeted. In your career bureaucrat has this been the hardest assignment? What has this taught?

A: This was very tough. This was very tough, but I was very fortunate. I was fortunate because someday good colleagues. First of all, the Brazilian Mauricio was very good. The South African Sherpa was an outstanding international legal expert. On our side, we had Nagaraj Naidu, an outstanding civil servant. He has experience with the United Nations so he is a top-class, really top-class drafter. And I had Eenam Gambhir who’s very motivated, enthusiastic, and was never pessimistic. So always looking forward. So you need to have a lot of guts, you need a lot of courage, and you need it to be a risk-taker. I just took the risk.

In the ultimate analysis, finally, when the last meeting ended in the night, I just told them, this is the draft that my leader had seen and he agreed with it. And I just pulled all the strength of my leader, and that’s the Prime Minister and I said, my leader wants all consensus. He doesn’t want a divided G20. He doesn’t want to wreck G20. He wants only a consensus and this is the final draft with four of us. By that time Indonesia had joined us, this is the best possible draft which will be green by the morning. So I left it at that at about 12 pm in the night by morning 6 am. And when I got up, I had confirmation from the EU, I had confirmation from Germany, I had confirmation from Canada so it was taking brinkmanship to its last.

Q: So by the wee hours on Saturday morning, you felt confident that you would have a breakthrough?

A: Absolutely confident, nobody believed me. But by that time I was absolutely sure that I’ll drive it and I took it to the last. I didn’t want to hold the meeting early because I knew they would get into discussions and debate again. I didn’t want to discuss it any further because I had already done 200 rounds of negotiations. So I just took it to the last and I said this is the best possible draft. This takes care of everybody’s red lines. This takes care of everybody’s interests. And here it is. This is the final draft no more discussion.

If your leader has anything to say, go and tell my leader, Sherpas won’t discuss it anymore. And that’s where things fell into place. I knew by that time, that I had already had all the emerging markets with me, and China and Russia still opposing it, but I was pretty sure I will push it down that line. And I told Russia that if you didn’t agree in the night after I had done this, I went and told them that if you don’t agree we’ll make it 19-1. So I was just doing gutsy courageous brinksmanship to the last.

Q: At the end of 200 hours of negotiating what has been the big learning for you in terms of the power of negotiating itself?

A: It was a very unconventional negotiation. This is not the normal type of diplomatic negotiations. I could do this because I had the full authority and backing of my Prime Minister who’s my leader, in this case, and I have his stature and standing in the international arena is very high.

The French had an issue but I was very sure that Macron will not have the courage to tell my Prime Minister that you change this word into that. They had some issues, the Germans had some issues but I made all of them fall in line. If you go by everybody’s because G7 comprises of seven nations. They keep coming and telling you to change this, change that, it will never work. I had heard them 200 times what more can I do? So I couldn’t have done anything more. I told them, this is the best best best draft you can ever get. This takes care of all your positions. This takes care of China, this takes care of Russia, and this takes care of all emerging markets. And then I had to throttle it down.

Q: Outside of the New Delhi declaration, and the fact that this turned out to not create history in the wrong way not to be the G20 that didn’t actually have a communique out? (Interrupted)

A: So let me just say a little bit on this because it’s a voice of moderation. There is a lot of waste of the Global South in this, emerging markets have had a say it, and it’s a very balanced draft. To my mind, it takes care of everybody’s concerns. So this should be a piece of document, which should really work for everyone for a long period of time for. Also, it brings multilateralism back to center stage. Multilateralism hasn’t worked for a very long time. But India has demonstrated that multilateralism can work and will work. We have created a document, the New Delhi leaders document is a very progressive forward-looking document on a range of issues.83 paras, we’ve had no dissent whatsoever, anywhere. It’s the only document which on all issues, all issues has had consensus.

Q: Yes, 83 paras versus 52 in Bali, and of course, a whole host of substantive issues being discussed. But let me pick up two of those. And let’s start by talking about the economic corridor, I want to understand what went into actually ensuring that that announcement was a reality here at the G20. We heard from President Biden in his press conference, he said that he had proposed this because he believes the economic corridors are the role of the future. But take me through what went into negotiating this aspect.

A: So this had been coming from the USA for a long time. And they had thought it through and we discussed it, they had discussed it with other countries, and they wanted to propose it. It is very much like our own Delhi-Mumbai industrial corridor. But it’s a great concept. It’s a brilliant concept. In terms of its outlook and perspective, it is truly unique. All we need to do is to get down to actually getting the project reports, right, get the implementation, right. It can have a huge impact globally, and it can be greatly beneficial to India, in the long run this corridor.

Q: So who was steering negotiations, as far as the corridor was concerned, of course, it was proposed by the US.

 A: They had come to me initially, they had discussed this several times. And then finally, it was driven by the NSA. We were caught up in G20 at that point in time, but all of us were involved in this and the NSA drew it MEA was involved, and everyone is involved.

Q: This is also in a way, perhaps one of the most significant challenges to China’s infrastructure, muscle and infrastructure, diplomacy and the Belt Road initiative. What was the approach, and what was the thinking, as part of the negotiations? Was that in the backdrop all the time as you were negotiating this agreement?

A: So a couple of things. One is that Americans wanted this, they were very clear. We were keen that this should go through it is in the interest. There were many other countries, the Germans, the French, the Saudis, and the Omanis all wanted it, and therefore, we pushed it through. But it’s important we use the G20 opportunity to have this rolled out. But still, a lot of speed work needs to be done. We need to take it to its execution level, and then finally take it to its financing and then getting the private sector involved. So a huge amount of work still needs to be done. But it’s a phenomenal project in terms of its scale, in terms of its bandwidth, in terms of its long-term impact. It’s a great project.

Q: What you’ve just articulated as the positives, the pros, the scale of aspiration, the length and breadth of what is hoping to be done, could that also then be the pitfall in terms of execution and the execution challenges linked to it?

A: I think what you need now is to truly spell out the broad contours, and get detailed project reports done. Lay out the clear financing pattern, and get the financing agencies involved. We will work on it to take it forward. But it’s an abroad line like what the Delhi-Mumbai corridor was that you will have these corridors, you will have a freight line running, you will have information technologies, many other components to it. So I think India is quite used to this Gati Shakti approach now, and we will be able to push it.

Q: Speaking of Gati Shakti, one of the other announcements that came in with the account was, of course, the announcement as far as the inclusion of the African Union as a permanent member of the G20. And this is something that India had committed to and it was a work in progress ever since our presidency started. Was that unanimity right through on this issue, or was that hard bargaining even on this one?

 A: So the letter of the Prime Minister to the heads of state had made a lot of difference. The majority of the countries were fully in agreement with the African Union getting involved.  There were two or three challenges that we were able to discuss in the Sherpa track and sort out. Before the physical Sherpa meeting happened, we had brought everybody together to agree to, and therefore there was broad consensus around it.

Q: One of the big issues when we talk about Africa, and you know, the hope is that with this there will be a move towards further economic resilience, more integration, economic integration. The call for addressing the debt of Africa, and perhaps even the possibility of a debt reset, how much of that was part of the deliberations and the discussions?

 A: That was discussed in the finance track, that’s a finance track issue. It’s an important issue because if 75 countries of the world are facing a global debt challenge, I think much more needs to be done. That is an issue. It’s been done for Zambia, it’s still to be done with many other countries. But I think that’s an important issue. But that’s an issue which the finance track will take forward.

Q: Of all the issues 83 paras dealt with a whole host of issues from crypto regulation, which was, of course, part of the finance track to digital public infrastructure to climate, which were the hardest ones to build consensus outside of Russia and Ukraine.

A: The hardest ones to negotiate were climate, energy, and finally, geopolitics. The climate was very tough. The ambition level was very high, getting countries to commit to tripling renewables, to cutting down fossil subsidies, to raising their ambition on the use of fuels, to limiting unabated fossil fuels. Saudi had very strong red lines, so we had to bring them down, negotiate and bring them down on a number of things. They were not agreeing to tripling renewable energy also. So there were huge challenges and we were able to get them around on a number of issues and bring consensus. Just about everything we brought consensus. We used many, many ways to do this.

Q: What ways did you use to arrive at a consensus on climate issues?

A: You see, the challenge was that it was very important to convince them that like we have done ourselves going renewable is the right thing. We have achieved a lot and we are very confident we’ll be able to triple our renewable energy. And if anybody has got better weather conditions, then ask to go in for renewable at Saudi. So we had to talk a lot. We had many bilateral discussions. So to be able to succeed multilaterally, you have to succeed bilaterally as well. And that was very important. We had to do that many, many times. And I think one lesson of all this is that you have to deal bilaterally, you have to be well-intentioned and thirdly, you have to know where the interest of the other country lies. And therefore, you have to handle two or three issues together to be able to sort it out.

Q: Speaking of handling several issues at the same time what I want to understand from you now is one, is there going to be a virtual summit in November? That is what the Prime Minister has proposed, you believe that we are going to see one in November. And more importantly, it’s, as you pointed out, it’s a substantive document that’s been put together. Brazil now takes over the presidency. What’s the hope from here, as far as the New Delhi leader’s declaration is concerned, as you said, Bali one para was forgotten very quickly, what is the hope with this one?

A: Very much, very much. It is a very good document, and I think everybody has agreed to it. In Bali, there was no consensus on global debt. There was a footnote of China. China agrees to global debt issues here and many other issues there is full agreement, so we will be able to take it forward. And it’s good that the prime minister said that get into focusing on implementation now. So if we get into focusing on implementation, we will be able to make another headway before we get into the virtual Summit. And then Brazil agreed to take them forward forever. They are taking forward a startup working group, our women’s working group, there’s a huge recommendation on women-led development and gender equality and women empowerment is a huge focus, no document in the world has had such a huge, overwhelming, emphasis on gender equality and women empowerment, and women-led development as our document has. There is a huge focus on Green Development Pact, which nobody has talked about, but there’s a huge, huge emphasis on green development.

Q: Many that I spoke to during the course of the last three days, we are in agreement that, G20, post India perhaps is going to look very different in the manner in which these summits are held. 200 meetings across 60 different cities, nothing like this has ever been done before, and perhaps may not be done again. We don’t know, but there seems to be a question mark on that. What was the idea behind this kind of showcasing that we attempted to do?

A: So our Prime Minister has a different vision and his view was that we should use this opportunity to really involve all the states, over 60 cities, who can then improve their infrastructure, their drainage, sewage, solid waste, and make it a people’s presidency, and involve the citizens through Model G20s. Have quiz contests, have essay contests, which we have done throughout the year. So every student now knows what our priorities are, and what is G20. And also on the content side, he had very clear views about building in the India narrative, on how to make it human-centric globalisation, how to focus on digital public infrastructure, and even the exhibition that you saw here was all about the digital public infrastructure. So he was very clear that we need to push the India narrative in this?

Q: What do you think is the biggest takeaway that world leaders, the people who have attended not just the final summit, but over the last 200 meetings, what do you believe is their big takeaway as far as India is concerned?

 A: So I think, eventually, everything folds down to the final document. Because that’s the living legacy of whatever you do. And that truly is the voice of the Global South, that speaks the voice of the emerging markets. The document that has been written there is totally the voice of the developing nations for the first time. It’s a voice which truly balances out the interests of the developing countries and that is a remarkable feature of this. It also focuses on several new areas, like DPI, there’s no global financial architecture, but it brings in the discussion of artificial intelligence of leaders, and many more areas we still talked about, but it’s a path-breaking document to my mind.

Q: For you personally, what has this process been like, forget the past nine months, but specifically, the last three or four days? Have you gotten any sleep at all?

A: No, I have not gotten any sleep. So I need to sleep well. I will plan to do this in the subsequent days. And I really want to take a good rest and just chill out. But it’s very difficult to do this, with the Prime Minister putting us back into action, saying that there will be a virtual Summit, you get down to work. So I don’t think I will even get sleep.

Q: To chill out. But Shashi Tharoor tweeted, saying that the IFS lost an ace diplomat in you, Kant, how do you respond to that?

A: Very nice of him to say that, I have great regard and respect for them. I responded to him, which was that there’s no IFS, it was all about team spirit and it’s about working for the country, at the end of the day. So we work. But you know, I think in the end analysis, I could get all this consensus through largely because of the elevated stature of India. I think the stature and standing as a Prime Minister as the leader because I am only a Sherpa and Sherpa to the Prime Minister. So his standing and his stature, really, of being a Prime Minister in a democracy, that very high people’s credibility, very high, that enabled me to push through a lot. I took risks, but I think behind me was my leader standing whose vision helped me to push.

Q: So at the end of the G20 presidency, where do you believe India finds itself?

A: I think on the top of the ladder because no other country would have been able to achieve consensus which India has achieved. I don’t think any country in the world would have been able to achieve what India has achieved under Prime Minister Modi’s leadership.

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
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nifty bank ₹1,318.95 -1.95

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