Forbes India 15th Anniversary Special

CNBC-TV18 and YES BANK seek to turn the dream of a $10 trillion economy into reality

CNBC-TV18 and YES Bank's The Growth Summit: Vision for a $10 trillion economy

Published: Feb 7, 2024 05:31:42 PM IST
Updated: Feb 7, 2024 05:39:42 PM IST

CNBC-TV18 and YES BANK seek to turn the dream of a  trillion economy into reality

India’s latest growth numbers have exceeded the most optimistic predictions, cementing the country’s status as the fastest growing major economy in the world. It has generated high expectations, exemplified by PM Modi’s proclamation of a target to create a $10 trillion economy. Such ambitious goals necessitate a cohesive vision for growth, involving a nationwide assessment of growth opportunities, emerging challenges, and new developmental pathways. The Growth Summit – A Vision for a $10 trillion economy, presented by CNBC-TV18 and YES BANK, in association with Max Life Insurance, is a platform to forge a new growth consensus, by bringing together business leaders, policymakers, experts and visionaries across five cities to explore how sectoral strengths and prevailing regional business trends can accelerate India’s forward momentum, in the quest of a $10 trillion dollar economy.

The series of Growth Summits will seek to reconcile sectoral and regional business prospects with the country’s growth priorities, with each edition weaving in the unique features of the host city’s business landscape into an overarching vision of national development. Speaking about the importance of a campaign to convene wealth creators and decision-makers to envision India’s forward economic much-needed Prashant Kumar, Managing Director, and CEO, YES BANK, said “The Growth Summit is a much-needed discourse to harness the true potential of India’s growth prospects and propel India faster and efficiently towards the US$10 trillion goal. By bringing together leaders from the industry and the financial sector, it would be our ardent endeavour to join hands and contribute positively to the growth dynamics of the Indian economy. We are excited to engage with fellow leaders, policymakers, and experts to unleash India's true economic potential and chart a path towards India's ambitious economic milestone, shaping a prosperous future for generations to come”.

The inaugural Growth Summit is scheduled to be held in Mumbai on February 8, 2024 with the theme ‘Turning Aspirations Into Assets: How India’s wealth can spark a new cycle of growth’. It will draw on the city’s primacy in the country’s financial system to discuss how investment trends can be augmented to channel capital resources towards achieving key developmental outcomes. A fireside chat with a top institutional leader will follow an opening address by Mr. Prashant Kumar, Managing Director & CEO, YES BANK. Two high-profile panel discussions will give audiences insights into how India can revive private investment and its role in fostering a growth mindset, respectively.

Discussing Max Life Insurance’s involvement in the campaign and the need for financial security, as India eyes exponential growth, Prashant Tripathy, Managing Director and CEO, Max Life Insurance said, “As India charts its journey to unlock phenomenal growth in the coming years, strong financial protection stands as a cornerstone that will further propel this upward trajectory. By securing the financial future of millions in India, we're contributing towards building a resilient economy on the foundations of financial security. Our commitment ensures stability for the present as well as a future thriving with enduring prosperity.”

The Growth Summit in Mumbai will be followed by events in Ahmedabad, Bangalore, Delhi, and Hyderabad, highlighting each city’s dominant growth areas and defining their significance in India’s larger growth narrative. While each edition of the Growth Summit will be a showcase of local business trends, they will be broadcast to a national audience, courtesy CNBC-TV18’s much vaunted national coverage, providing the perfect medium to disseminate strategic growth insights. “It’s a great opportunity for us to foster conversations on India’s development and create an integrated approach to growth that cuts across sectors and regions”, said Shereen Bhan, Managing Editor, CNBC-TV18.

For audiences, it will be a glimpse of India’s immense growth potential, along with people, processes, and products that will help realize it in the coming years. It will describe the many opportunities and benefits the impending growth spurt will bring to each citizen and give a new impetus to the dream of a developed India.

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