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breaking news Davos 2023 | Bain & Company sees India as a ‘bright spot’ for investment


Bain & Company on Monday, January 16, said it viewed India as a “bright spot” for private business investment. In an interview with CNBC-TV18 Editor-in-Chief Shereen Bhan, company CEO Manny Maceda said, “India is a bright spot for most companies thinking about where to invest, thinking about customers, are thinking of where to invest for the supply chain, for the manufacturing, for the technology.”

He said society was still optimistic about India: “In a world where the rivalry between the West and Russia and the developed Western economies and China is clear, India has remained in a excellent position India’s demographics are inherently attractive – it has a large local market India is one of the countries in the world that still has reasonable population growth, an emerging middle class.


Maceda said that Beijing took a different path on COVID-19 and there was also a strong decoupling of the global economy because of it, “American companies also kind of backed off and said we don’t can’t really access Chinese markets like we used to, and then there were a lot of discontinuities in the global supply chain, because China was the key part of it.”

The CEO said: “So there’s a lot of resilience that companies have tried to build to deal with the fact that China was kind of doing its own thing for a few years. Now that China is very quickly choosing to re-enter the global economy, an economy the size of the United States is now going to come back onto the world stage, so that’s forcing companies to think about a lot of their choices on China and that’s one of the big topics of the 2023 strategy. “

Of the layoffs, he said: “In a world where we’ve all chosen to figure out how to work remotely, there’s a tech boom and every major tech company is announcing layoffs now, but put it in context. Companies like Salesforce have doubled in size from 40,000 to 80,000 employees over the past few years and so now they’re making a correction, so it’s an adjustment to that excessive exuberance.

He said the world needs a little more predictability in scenario planning: “We can’t predict the future, but we can plan scenarios. So what will happen in the next pandemic, what will happen in the next war? We don’t want to be surprised anymore by the quick reactions we all made when Russia invaded Ukraine. And then we have to build more agility.


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