Uday Kotak Warns of Potential Neo-Colonialism Amidst Global Conflicts
Finance veteran Uday Kotak warns that the US-Israel conflict with Iran could trigger a new form of colonialism. He calls for India to bolster its 'middle manufacturing' sector to ensure economic resilience and self-reliance. Kotak urges Indian corporations to enhance investment in research and development.
- Country:
- India
Finance industry veteran Uday Kotak cautioned on Tuesday about the potential rise of neo-colonialism, sparked by the ongoing conflict in West Asia involving the US and Israel's attack on Iran.
Speaking at a Federation of Indian Chambers of Commerce and Industry (FICCI) event in Mumbai, Kotak likened the current geopolitical climate to the early 20th century's colonial era. He emphasized that while his observations are not politically motivated, they are rooted in global dynamics and public discourse.
Domestically, Kotak stressed the importance of enhancing India's 'middle manufacturing' sector, recommending increased investments to boost economic self-reliance and resilience. He further encouraged corporate investment in R&D to maintain competitiveness.
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