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India is well positioned with huge potential & going in the right direction: Stephen Pagliuca, Co-Chairman, Bain Capital

Dec 19, 2021

NEW DELHI, 19 December 2021: Mr Stephen Pagliuca, Co-Chairman, Bain Capital, in conversation with Mr Sunil Sanghai, Chairman, FICCI Capital Markets Committee and Founder & CEO, NovaDhruva Capital Pvt Ltd, on Friday shared his perspectives on the emerging financial and economic dynamics in the US and its impact on the emerging markets including India.

Addressing the session on the theme 'Collaborating to Build Resilient Businesses for Inclusive Growth', during FICCI's Annual Convention and 94th AGM, Mr Pagliuca shared his perspective on the economic outlook amidst tapering by the FED. "For the short term, the outlook is very good, for long term, the FED will have to figure out how we get back to regular money supply and how do we balance interest rates at the same time," he added.

Speaking about the potential of Indian economy, Mr Pagliuca said, "India has a huge potential. There is a smart, educated and young workforce. There is high proficiency in technology. India is very well positioned and going in the right direction."

Amongst the key suggestions for tapping India's potential, Mr Pagliuca highlighted that the future of India is very bright if the reforms can continue. "It will become easier for businesses to operate and become involved in global trade. Investment in education and opening up India to global trade, to global private equity firms will be very helpful in further building the economy," he added.

Highlighting the issue of global trade and US-China trade tensions, Mr Pagliuca remarked, "It is a big concern right now for entire US economy. For the last 30 years, we have had a record global trade and that global trade has lifted billions of people out of poverty. On a business-to-business basis, our investments in China are working well. I am hopeful that we will get down to more steady situation as the tensions disappear. Due to long held strong economic ties, it will be very difficult to unwind the trade for both countries."

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