Uday Kotak, Founder and Director of Kotak Bank (File Photo)
\n\nUday Kotak, Founder and Director of Kotak Bank, has called for a more open approach towards Chinese investments in India, arguing that partnerships between companies from the two countries could create new opportunities for domestic manufacturing. He has also said that the Indian rupee should be allowed to adjust according to market conditions, with the country's economic strength eventually reflected in its value.
\n\nSpeaking at the Bloomberg New Economy Forum, Kotak pointed to early signs of Indian and Chinese companies exploring collaborations, particularly in manufacturing under the Make in India initiative. He suggested that India should adopt a pragmatic approach to economic engagement with China while keeping its investment options open amid shifting global trade and capital flows.
\n\nKotak said the rupee has been on a weakening trend for eight years and argued that policymakers should allow the currency to find its natural level rather than focus on resisting its movement.
\n\n“We should let the rupee find its own level and overtime the true strength of the economy will play out.”
\n\nHis remarks come amid discussions around currency movements, foreign investment flows and India's economic fundamentals. Kotak also highlighted how…
Original source: https://www.timesnownews.com/business-economy
