Uday Kotak Warns of Potential Neo-Colonialism Amidst Global Conflicts

Finance industry veteran Uday Kotak cautioned on Tuesday about the potential rise of neo-colonialism, sparked by the ongoing conflict in West Asia involving the US and Israel’s attack on Iran.

Speaking at a Federation of Indian Chambers of Commerce and Industry (FICCI) event in Mumbai, Kotak likened the current geopolitical climate to the early 20th century’s colonial era. He emphasized that while his observations are not politically motivated, they are rooted in global dynamics and public discourse.

Domestically, Kotak stressed the importance of enhancing India’s ‘middle manufacturing’ sector, recommending increased investments to boost economic self-reliance and resilience. He further encouraged corporate investment in R&D to maintain competitiveness.

(With inputs from agencies.)