From India's design philosophy to drawing lessons from China, watch Vallabh Bhanshali as he shares his vision on how India will emerge as a global leader in a conversation with Niyati Bohra. #NDTVProfitLive
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00:00 Whether it is country, economy, market, business, faith, or passion,
00:05 you can take any topic and talk to anyone,
00:08 they will enrich you with their vast knowledge, experience and wisdom.
00:14 Vallabh Bansali, one of the most credible, reliable and sought-after voices for anything you need to know.
00:20 Welcome Vallabh sir, thank you so much for your time.
00:23 Thank you for your very kind word, Niyati.
00:25 Wonderful.
00:26 Thank you sir.
00:27 Sir, let's start with India's growth story.
00:30 The way we are moving from developing to developed nation,
00:34 chasing the 30 trillion dollar economy,
00:37 there is a consensus that India's time has come.
00:41 How bullish, bearish, cautious, confident are you on this new India's growth story?
00:47 First of all, thank you so much for inviting me here.
00:52 Sir, pleasure is ours.
00:53 I don't believe in India's moment,
00:59 because India has a journey, a path, a journey.
01:06 And life is true up and down.
01:10 India was at a very high level for hundreds of years.
01:14 It went down for 1000 years.
01:18 We don't believe that there is a time period.
01:22 This bottom has been formed for the last 100 years.
01:26 There will be difficulties again and again.
01:28 The period that is going on now,
01:31 is basically a period of freedom.
01:34 We had one freedom in 1947.
01:39 The second freedom was in 1991.
01:42 After 1947, we were slaves in many ways.
01:47 First we were slaves of the British, then of the government.
01:50 After 1991, a freedom started.
01:54 And it has many chapters.
01:57 And each chapter increased.
01:59 On 22nd, we got a very big second freedom.
02:03 That was cultural freedom.
02:05 It was a cultural freedom movement.
02:07 No one said it or not.
02:09 But you will see in the environment, in people's emotions,
02:13 that how big an event happened,
02:17 that we got out of jail.
02:19 So this freedom,
02:21 freedom pushes strong people forward.
02:27 Because they have a desire to do something.
02:31 So India was a country where such a big cultural heritage,
02:35 such a big history, history of goodness,
02:38 you tied it up and kept it for 1000 years.
02:41 Then when freedom came, you tied it up again.
02:43 Then you tied up their cultural identity.
02:46 So as our identity will be different,
02:48 we feel that India's moment has come.
02:50 In 1947 also, we felt that it was a twist with destiny.
02:53 In 1971, when the environment was very bad,
02:56 then people didn't feel that,
02:58 but before the liberalization,
03:00 I had reached America to say that India's time has come.
03:04 So India's time will definitely come.
03:07 We have passed through a turn.
03:10 So I don't feel any good in this.
03:13 - So the targets we are trying to chase in this golden age,
03:19 what are the key drivers that are pushing this growth forward?
03:23 - First is the growth mindset.
03:25 Like I said, freedom is a big thing.
03:27 We are still not free in many ways.
03:30 Even today, whether we have to set up a business,
03:33 how many initiatives, policy making, judiciary,
03:36 in many things.
03:37 So the ability you have,
03:40 you have imagination,
03:42 you have effort and enterprise.
03:45 So you don't need any plan.
03:47 Just leave them free.
03:48 Like Narasimha Rao said,
03:50 "Get out of the way of Indians. I don't know the rest."
03:53 "The rest they will take care of."
03:54 So as it goes on, it will happen.
03:56 Second, our balance sheet,
03:58 many types of balance sheets were broken.
04:00 Infrastructure, governance, etc.
04:03 So all those balance sheets are filling up.
04:06 So when a strong balance sheet,
04:08 a big business can be made on the balance sheet.
04:10 You can't do a big business by just spreading the balance sheet.
04:14 So as the balance sheet gets stronger,
04:17 of individuals, banks, country,
04:21 our work will increase.
04:23 Third, geopolitical environment sometimes gets against us,
04:26 sometimes in our favor.
04:28 Right now, it is in our favor.
04:30 So these are the three big things.
04:32 Whether our balance sheet got fixed,
04:35 or financial balance sheet got fixed.
04:37 Growth mindset came.
04:39 And we had the capability.
04:41 Now it has got freedom, so it will keep on growing.
04:44 Sir, what is the design philosophy behind this?
04:50 Please explain this to us.
04:52 Whether you talk about growth, aspirations,
04:56 or challenges,
04:57 or you talk about any type of policy or reforms.
05:01 What is this thought about this design philosophy of this new rising India?
05:06 Someone will call me a Modi devotee,
05:10 someone will call me an admirer of Modi.
05:12 I am a patriot.
05:13 More than a personal devotee, I am a patriot.
05:15 And I am a devotee of the one who will move my country forward.
05:18 As much as I know history,
05:22 and I have made a film, documentary, serial,
05:26 I have seen the country very deeply.
05:28 So I think that in almost 2500 years,
05:33 or in the history of India,
05:36 if I had ever seen the design of the country in any person,
05:40 then I had seen it in Chanakya.
05:43 How a country is made.
05:47 But Chanakya and Chandragupta were two.
05:50 Now in Modi Ji, both Chanakya and Chandragupta are in one person.
05:55 - That's a very big statement you are giving.
05:57 - And what are its aspects?
06:00 You must have never heard what I am going to say.
06:04 It has four big aspects.
06:07 The biggest is that the people of the country are prosperous,
06:11 capable, happy, creative,
06:15 because the biggest property of the country is its people.
06:19 And the people of the country are poor, helpless,
06:23 desperate, it is very difficult to raise them.
06:28 When you have a shortage of resources, it is even more difficult.
06:32 Your old policies, laws are even more difficult.
06:36 Your neighbors are so friendly, it is even more difficult.
06:41 When the West sees the East in a different way,
06:45 when the time comes, because they colonized for so many years,
06:48 even today their colonization is not over.
06:51 Even if they have become companies, etc.
06:53 I don't want to go into that, I want to talk about design.
06:56 So, where should an ordinary person start from?
07:00 - Right.
07:01 - In English, there is a word 'expedient', whatever happened, it was done.
07:04 Till now, whatever happened, it was done.
07:08 Vajpayee ji tried a little.
07:10 But what is happening in the last 10 years,
07:12 it is a complete design, it has four big pillars.
07:16 It will be difficult to feel proud of yourself,
07:20 which is called the wife of the poor, the sister-in-law of everyone.
07:23 So, the poor, who considers himself demoralized for so many years,
07:28 it will take time to get his courage back.
07:31 So, first of all, Modi ji said, I will be an example.
07:35 How does the poor rise?
07:37 A mother, who has become a widow, how does she stand with her children?
07:42 With her character, with her communication, with her hard work.
07:47 Modi ji said, first I will demonstrate this.
07:50 I will demonstrate in my government.
07:52 I will demonstrate through Chandrayaan Mission.
07:54 I will demonstrate through Vande Bharat.
07:56 I will awaken faith in them.
07:58 Play India.
08:00 So, how a village boy or girl, when she comes forward,
08:04 how does the moral of the village rise?
08:06 So, we were so suppressed, there is no account for it.
08:10 It will take time to pick it up.
08:12 This is the real meaning of sovereignty.
08:15 But the second meaning, practically,
08:17 the meaning of sovereignty, the meaning of totalitarianism is,
08:20 that at least someone will point fingers at me.
08:23 I will get slapped twice, but I will hit once.
08:27 He hit and told.
08:29 The second thing, my interest is my interest.
08:33 I should change my interest in geopolitics because of others' interest.
08:37 No.
08:38 I should not depend on the veto infested UN.
08:41 The UN of veto, where is it?
08:44 I should not depend on it, I am not dependent on anyone.
08:47 If any resident of my country is trapped somewhere,
08:51 I will do good day and night.
08:53 I will go to Sudan in the dark,
08:55 I will go by plane and free them.
08:57 So, when every Indian is at a loss,
09:00 then India is at a loss.
09:02 So, this totalitarianism is such a big thing,
09:05 you must have never seen such a big understanding.
09:08 I can talk for hours on it, but we will move ahead.
09:12 You will be totalitarian,
09:14 but you are not capable, you are not solvent,
09:17 you have a wall, then what will happen?
09:20 Modi Ji had a Kuchakra,
09:22 that if you do not have wealth, then you cannot invest.
09:26 If you cannot invest, then you do not have a mother.
09:29 So, you are Kuchakra, chicken and egg.
09:31 Where should I break?
09:33 So, the policy which people say was ours,
09:36 you did nothing.
09:38 So, I will lose the election,
09:40 people used to say that if GST comes, you will lose the election.
09:43 I will bring it because without it,
09:45 I cannot get revenue.
09:47 DEMON did not go as it should,
09:50 still, they brought GST.
09:52 Where does this courage come from?
09:54 This courage comes from design.
09:56 It corrected all the banks.
09:58 It corrected all the balance sheets of the companies.
10:01 India will be such a country in big countries,
10:04 in which the balance sheets of the country,
10:06 banks and companies are all fixed.
10:09 All are solvent.
10:11 Today, the prices of banks are rising,
10:13 because of the NPA problem which they have solved.
10:16 So, they are moving with a design.
10:19 And now, let's see, the citizen of this country,
10:22 fix the balance sheet of this country.
10:24 How much expenditure can I bear?
10:26 Food, water, electricity for 80 crore people.
10:29 So, I am not only increasing their self-respect,
10:32 but I will also correct their balance sheet.
10:35 So, this is the second big work of solvency.
10:38 The third work is of self-respect.
10:41 So, as an example, if there is any Indian corruption,
10:44 then you should be honoured as the husband of the country.
10:47 The second is that, if I have this much,
10:49 then the country's husband also gets honoured,
10:51 and so does his own husband.
10:53 So, they have increased self-respect by 50 ways.
10:56 On the first day, when Modi Ji used to perform aarti in the temple,
10:59 it was visible on TV,
11:01 people used to ask, what kind of Hindu is he?
11:03 He was not a Hindu.
11:05 The same thing that a person does daily,
11:07 I, the Prime Minister, do the same.
11:09 And we display them.
11:11 We display them.
11:13 The biggest problem of their was the toilet.
11:15 They didn't feel ashamed that I will speak from the Red Fort,
11:18 and in my first UN speech, I will also speak about the toilet.
11:22 That your pain is my pain.
11:24 I have lived that pain.
11:26 So, in 50 ways, our self-respect was finished.
11:30 So, slowly, in a different way,
11:33 we changed the game of Padma Shri.
11:35 You are all Padma Shri.
11:37 Any one of you can become Padma Shri.
11:39 We could never even think.
11:41 So, this is the work of self-respect.
11:44 But the most important thing is that
11:46 even after all this, if you are not productive,
11:48 then how will the work be done?
11:50 And think about the productivity.
11:52 The job that you don't feel like doing,
11:54 you don't feel like being the head of that company,
11:56 how productive will you be?
11:58 So, my suppressed people,
12:04 they don't go for skilling,
12:06 they don't study.
12:08 Because they don't self-work.
12:10 What will I do by studying?
12:12 I have to work, become a driver, a servant, a watchman.
12:14 It is very difficult to change that.
12:16 But as the aspiration increases,
12:19 as these things increase,
12:21 they have to make the country productive.
12:23 We are very behind in productivity.
12:25 We are very behind in half of the country.
12:29 We have come ahead in some areas.
12:31 But we are very behind in many areas.
12:33 Sir, India is firing on all cylinders.
12:36 Probably, you can see the infrastructure,
12:38 you can see the manufacturing.
12:40 There are many sectors on which the government
12:42 is focusing very pointedly.
12:44 Are there any pockets or fronts
12:46 that are being overlooked?
12:48 And should we focus more on them for high growth?
12:50 When I told you so many things,
12:52 if our government is focused on so many fronts,
12:54 then there will be some areas where I need more priority,
12:58 you need more, but the government is not able to do it.
13:00 I will not say that it is a neglect,
13:02 but it is a business difficulty.
13:04 There is one sector for sure.
13:06 Or we have to keep an ordinary view,
13:10 that is from China.
13:12 China has not only made its country so strong in 40 years,
13:17 but no one has stood by it.
13:19 And no one has stood by it.
13:22 It has been tried a lot.
13:24 I will go ahead from America,
13:26 I will show America down.
13:28 So we have to learn a lot from China.
13:30 Let me give an example of China.
13:32 In 2015-16, Obama said something about China for the first time.
13:38 That it is very important to stop China.
13:40 They have stolen our technology, etc.
13:42 Then when Trump came,
13:44 he said very strongly.
13:46 China did not see a way out.
13:49 When we get a notice,
13:51 we will confirm the notice and then work.
13:54 From that day, they started working.
13:56 That they will leave us to the semiconductor,
13:59 they will leave us to this thing.
14:01 In 8 years, they have made so much progress,
14:04 that America is trying a lot to stop them.
14:07 They will not stop.
14:08 They have already made a 4 nanometer chip,
14:10 and made a phone of it and put it in the market.
14:12 So, no matter how difficult it is, we will go.
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27:07 [FOREIGN]
27:17 >> Wow, thank you so much, well, sir.
27:19 [FOREIGN]
27:27 >> Thank you so much for your time.
27:28 [FOREIGN]
27:38 >> Thank you so much viewers for tuning in.
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