New Delhi, July 10 (IANS). Experts at Price Waterhouse Chartered Accountants LLP said on Friday that global investors’ confidence in the strong growth journey of the Indian economy is continuously increasing. Artificial Intelligence (AI), strong corporate governance, transparent financial reporting and credible institutional arrangements are playing an important role in propelling India towards sustainable economic growth. He says that the steps being taken by the government to make business easier are also helping in attracting more capital, talent and investment in the country.
Rahul Chattopadhyay, partner, Price Waterhouse Chartered Accountants LLP, while talking to news agency IANS, said that today almost every company is understanding the importance of Artificial Intelligence (AI). He said today information is easily available to everyone and companies are continuously investing in building the digital infrastructure needed to accelerate AI-based development. He believes that AI is going to be the most important factor determining the direction of business in the coming times.
Rahul Chattopadhyay said that the biggest message that came out of this discussion was that credibility is the biggest asset for any organization. When trust in a company increases, it gets better investment and this investment becomes the basis of sustainable development in the future.
“Credibility is not a single thing, but good corporate governance, transparent financial reporting and strong internal systems together build a company’s reputation. Such companies are successful in attracting better investments, talented employees and long-term growth,” he said.
Chattopadhyay further said that the Central Government is continuously taking many important initiatives to make business easier. These reforms aim to make India’s economic growth sustainable and attract more investment, capital and talent to the country.
He said that he has full confidence in India’s development journey. India is a young country, where there is a strong administrative system and good governance. This strong infrastructure will propel the country towards sustainable economic development in the coming years.
At the same time, Anurag Khandelwal, Partner, Price Waterhouse Chartered Accountants LLP, while talking to IANS, said that the biggest challenge before any organization is to establish trust and maintain it for a long time. He said that credible growth does not just mean earning more profits, but maintaining good governance and transparency is even more important.
He said, “There are many examples in the economy where companies grew rapidly in the beginning, but could not maintain the confidence and could not survive for a long time. Therefore, it is not enough to just achieve growth, but it is equally important to sustain it.”
Khandelwal further said that there is immense potential in the Indian economy and Indian companies. However, history shows that only those companies that have given top priority to corporate governance have been successful in the long run.
He said that for strong and sustainable growth the entire business ecosystem will have to work together. Founders, investors, independent institutions that monitor financial reporting and all other stakeholders play an equal role in this. Only when all parties fulfill their responsibilities honestly, India’s development journey will become stronger and more sustainable.
–IANS
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