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Exclusive: Uday Kotak on India's COVID fight, vaccination drive and economy

Updated : May 26, 2021 22:42:13 IST

Come the 31st of May, veteran banker Uday Kotak would be stepping down as the president of industry body Confederation of Indian Industry (CII) and handing over the baton to TV Narendran.

Kotak took charge as the CII president in June last year amidst a raging COVID pandemic that has claimed over 3 lakh lives so far.

Over the last one year, he has been at the forefront of strategising the industry body's response to the pandemic and giving valuable inputs on how to minimise the financial hit.

Earlier this month, the CII had urged the Modi government to consider curtailing all non-essential economic activity to contain the spread of the virus. Though not a national lockdown, strict curbs are in force in almost all states across India.

India's unemployment rate, as per CMIE stands at over 11 percent as of yesterday compared to 8 percent in the month of April.

These have come as a deterrent to economic recovery. Infact, major brokerages have downgraded their GDP forecasts for FY22.

The tardy pace of vaccination remains a concern as well. Only 3 percent of the population has been fully vaccinated so far.

So amidst all this, how should India Inc. go about formulating its re-opening roadmap? To discuss this, CNBC-TV18's Managing Editor Shereen Bhan spoke to Uday Kotak, Outgoing President of CII, MD & CEO of Kotak Mahindra Bank.

Watch video for more.
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