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The BT Banking and Economy Summit was held at Gift City, Gandhinagar on Friday. The Banking and Finance experts from across the country participated in this summit. The discussions in summit triggered many growth perspective, which can result India as economic super power.
Mining giant Gujarat Mineral Development Corporation Limited’s (GMDC) MD Roopwant Singh on Friday said that investors need to change their perspective towards mining and oil stocks and push the growth trajectory of these companies by putting money in their stocks.
“The shares of mining companies have not gone up by more than 1-1.5% in the last 10 years. This trend needs to change. Picture this, coal has not peaked yet. Coal will peak in 2035. Petrol and natural gas will peak by 2040. During this time, they will go better, then peak and then go down. Non-conventional energy and renewable energy will go 2X to 3X
Dr Arvind Panagariya, Chairman, 16th Finance Commission of India and former vice chairman of the country’s apex economic think tank NITI Aayog batted for privatisation of public sector banks once the general elections are over. Dr. Panagariya, who was talking at the Business Today Banking & Economy Summit, said that once the current dispensation returns to office post the general elections, it should be on their agenda.
In my Opinion, this is in fact a good opportunity, when the banks are now in good health, right now they are flourishing, they have solid value. This is a good time to privatise. I think this is good time, when the government comes back in its next term, to start seriously privatising some of the [public sector undertaking] banks,” he said at the summit held at GIFT City, Gandhinagar.
Speaking at THE INDIA WIRE at the Best Banks Summit at GIFT City, Ashishkumar Chauhan, MD & CEO of NSE, said that while the Indian IFSC offers a great opportunity for global companies in terms of costs and compliances, the speed of execution in terms of setting up companies could do with some improvement.
“This being a special economic zone… this zone is going to compete with Dubai or Singapore or Hong Kong or London and not with the domestic regulators or domestic regulations,” said Chauhan.
