00:03Next up we have Dr. Sumitra Chakrabarti, our next awardee.
00:30Driving business excellence across Western India. Let the growth story begin.
00:40Good afternoon Mumbai and a very warm welcome to every one of you for joining us at the Hotel Sahara
00:49Star for the ETNow.in Business Conclave and Awards 2026 West Edition.
00:56Can we have a thunderous round of applause and start the event on a very very high note.
01:07Over the next few hours the stage will bring together the policy makers shaping that story.
01:14The business leaders building it and the entrepreneurs betting everything on it.
01:20You know they say the global trade is being redrawn. New corridors, new partners, new rules.
01:27Our next panel unpacks what that means for Indian businesses.
01:31Joining him we have Dr. Sumitra Chakrabarti, founder, director and CEO of Innovative Project Management Services Private Limited.
01:41And with that I hand it over to Sakshi ma'am.
01:43India is no longer just trading with the world. It is building for the world.
01:49As Indian businesses look beyond borders, the next growth story is about taking our innovation and manufacturing global really.
01:58To decode this further I am joined by Sumitra Chakrabarti, founder and director, CEO Innovative Project Management Services.
02:06Dr. Sumitra, do you agree India is investing heavily in ports, in industrial infrastructure.
02:12What are the biggest execution gaps that you are witnessing as we are doing this?
02:18Yeah, first of all very good evening to everyone and thank you for asking this question.
02:24But I would actually like to sort of divert that question to something more data centric.
02:33You know I don't think the problem lies with India's execution on infrastructure development.
02:39I think the problem that lies is in terms of how are we approaching towards that execution.
02:46I think we are not in dearth of infrastructure right now.
02:50If you look at the logistics, cost of logistics it is about 7.9% which is about 24 lakh
02:57crores of the GDP.
02:59And if you look at the World Bank Logistic Performance Index, India has moved from 139, out of the 139
03:06countries India is now 38.
03:08So I don't think existence of infrastructure is in question.
03:13But I think the gaps, if you really are asking about what are the gaps which are coming out.
03:19In my mind, after you have asked this question, there are two or three important gaps.
03:24One is, I think, you know, we have to build an ecosystem.
03:29So everything is seemingly working in silos, the highways, the corridors, the ports.
03:34But when you look at an exporter, it is one ecosystem.
03:37So I think we are not building an ecosystem.
03:39We are building in silos these great projects.
03:42That is one.
03:43Number two, I think the first mile to the last mile connectivity.
03:47One thing that I have observed even during the course of the discussion that I have attended today.
03:53I think one segment of the Indian business scenario is slightly neglected and that is the MSME segment.
04:01I think unless and until these infrastructure projects are able to connect to the SMEs and to the small farmers
04:08and small producers, it's not going to make that effect.
04:11And the third and the most important gap that comes to my mind is something that we practice in our
04:16company also is we sort of misunderstand activity with impact.
04:22I think a lot of if we don't measure it properly.
04:25So in environment impact or in social impact, you have a reasonable, clear solution that, you know, input, output, outcome
04:32and impact.
04:33So there is a clear line.
04:35I think if the infrastructure development starts sort of aligning with that paradigm where input, output, outcome is to the
04:44impact, to the last mile connectivity.
04:46I think the gaps that you are talking about will stand resolved to a great extent because I think GDP
04:52numbers and infrastructure investment numbers are like a scoreboard.
04:56But if you look at overall economic development, it will come only when you have this 146 crore population participant
05:03in that.
05:04That is the gap.
05:05Absolutely.
05:05So reframing and looking at everything as an ecosystem is what you're suggesting.
05:10All right.
05:11Then Dr. Sumitro, you know, your thoughts on the most crucial reform that India needs then, whether to look at
05:18the $5 trillion economy aim or the $20 trillion economy aim as Mr. Bagga was just suggesting.
05:24So what should India then do in terms of reforms?
05:28Well, I completely agree with Mr. Bagga on this front.
05:31I think, again, coming to some data points is like, you know, we are around $4 trillion right now.
05:37Yeah.
05:37So reaching $5 trillion economy, I think what we have to now essentially think about is we also, we just
05:47spoke, I think the minister just spoke about half an hour back that, you know, we are one of the
05:51most youngest country in the global map.
05:54But given the age group, I think we have to look for whether this kind of a development that we
06:00are talking about is actually holistic development, which is creating more opportunities for people.
06:04So we cannot deny one fact that we are 146 plus crores of people here in this country.
06:09But at the same time, is this development really connecting them with the jobs?
06:14Is it really going to the MSMEs?
06:16Is it going for, is it enhancing the household incomes?
06:20So for me, if you ask me very frankly, you know, we are a $4 trillion economy with a GDP
06:26of $2,700 per capita income of $2,700.
06:31Is that a thing that should exist?
06:33Now the question is, what do you do with that $1 trillion?
06:36Because you're asking me a question about $5 trillion.
06:38We are right now $4 trillion.
06:40So we are, the only question is about $1 trillion.
06:43What are we going to do with that $1 trillion is the question.
06:46Now my understanding on the matter says with limited capacity is that unless and until we are able to connect
06:52the development directly to the MSMEs, to the small farmers, to the marginal groups and create more job opportunities for
06:59the younger population,
07:01and then create a consumer driven economy, this development will become only sustainable through that process.
07:08So for me, you know, a container going, reaching one day faster is a logical achievement.
07:16But an SME hiring 10 jobs because of that container reaching faster is a much more holistic economic development and
07:24they're just looking at the fact of, you know, infrastructure development as such.
07:28So I think those are the things.
07:31And I think efficiency in management, I think inclusion of women, financial inclusion, and transparency in governance are the three
07:39important reforms that can be brought about for development to really take that scale, from my point of view.
07:47Thank you so much.
07:49Right, Ajay Baga, what should we do then?
07:51What reforms should we look at to really achieve that scale?
07:54What are the focus areas then to generate these kinds of jobs?
07:58And if I were to ask you by 2030, what are the sectors you would look at most that are
08:03likely to benefit from global expansion altogether?
08:0711 million people will come into Indian workforce every year for the next 20 years.
08:14We don't have those jobs.
08:16No government in the world can create those jobs.
08:19They have to be self-employed.
08:22They have to be given skills, what Dr. Shamitro said.
08:26So I would say we will have to copy the Koreans of the 60s who skilled their population.
08:33We have to copy the Brazilians.
08:3554 countries they went to saw the best agriculture practice for 54 crops from each country and their productivity shot
08:44up.
08:45If 66% of your population is sitting in rural India and just making 12-13% of your GDP,
08:54you have a very serious problem.
08:55You have a problem of consumption, you have a problem of equality, what Dr. Shamitro said, and you have a
09:03problem for the future.
09:04I land there, Sakshi, I know you want to kill me, but I got carried away.
09:09Not at all.
09:09Not at all.
09:10It is the time to redefine skill sets like you said.
09:13And we need to innovate.
09:15We need to think out of the box and refresh mindsets altogether as well as critical policy changes that you
09:22mentioned are the need of the hour.
09:24Thank you all for sharing your thoughts and for this interaction.
09:27Thank you so much.
09:29Can you give a big round of applause for this wonderful panel?
09:32And with that, I request Sakshi ma'am to please also do the honours of facilitating our panelists.
09:42Thank you so much.
09:52And Eknath sir, I'll be inviting you forward.
09:54I request Mr. Rohit Gopakumar also to please join sir on stage as we will be starting with the award
10:01segment.
10:04Next up we have Dr. Sumitra Chakrabarti, our next awardee.
10:16And with that, thank you so much sir.
10:18Thank you so much.
10:19Ladies and gentlemen, with that, let me tell you this brings us to the end of a truly packed evening.
10:25One that took us from boardrooms of BFSI to the corridors of policy.
10:32From ambitions of startups to the vision of a $5 trillion maharashtra.
10:37On behalf of ETNow.in, thank you to our chief minister, our deputy chief minister, our ministers, speakers, panelists, partners
10:48and each and every one of our winners this evening.
10:52You are the reason Western India leads the way.
10:56Why did the
