Being at the helm of Xpress Money, I am fortunate to often meet and interact with people not only from the business fraternity, but eminent personalities from across different sectors. One such conversation that has left a lasting impression on me, is my recent interaction with Dr. Narendra Jadhav.
Dr. Jadhav is a renowned Indian Economist, Educationist, Administrator, Author & Thought Leader who recently visited the UAE and spent a few minutes of his time to discuss a couple of worldly issues with me. One of the finest orators that I have come across, Dr. Jadhav very simply deconstructed the latest Indian budget for me while also shedding light on the Indian economy and that of the world. “For the first time in 30 years, India’s growth rate has exceeded the growth rate of China”, he exclaimed.
During our conversation, we touched upon the important topic of remittances and the key role played by Indian expats in the country’s economy. He explained how remittances are the most ‘stable’ source of income as compared to foreign direct investments and portfolio investments and probably the reason why Indian expats fail to get their due recognition from the government. We agreed upon the fact that the government should look at incentivizing expats who regularly send remittances and create a congenial environment that encourages them to send larger volumes of money back home.
In his closing thoughts, Dr. Jadhav expressed that India and UAE should work together to achieve larger goals not confined to manpower supply and remittances. While UAE could play a key role in the ‘Make In India’ campaign, there is also huge potential of developing meaningful relationships between the other Gulf countries and the western region of India – owing to the close geographical proximity.
This conversation with Dr. Jadhav was definitely one of the most memorable experiences I have had, not only because of our stimulating discussion, but also this was the first time I dabbled a little role reversal of being the interviewer rather than the one being interviewed.
Written By Sudhesh Giriyan, COO, Xpress Money