Ritesh Agarwal's Conviction For A USD 55 Trillion Economy | Here's What OYO CEO Said At Times Now Summit 2024

ritesh agarwal’s conviction for a usd 55 trillion economy | here’s what oyo ceo said at times now summit 2024

At the Times Now Summit 2024, Ritesh Agarwal, the Founder and CEO of OYO, shared his compelling vision for India’s future, drawing inspiration from insights provided by former Chief Economic Adviser Krishnamurthy Subramanian. Agarwal’s optimism stems from a parallel drawn between India’s economic growth trajectory and the remarkable ascent of global giants like Amazon.

The Power of Consistent GrowthAgarwal emphasised the significance of sustained growth, citing Amazon’s steady annual growth rate of 15 to 20 percent over its two-decade journey. He highlighted the principle of compounding, where consistent incremental growth yields dramatic outcomes over time. Drawing parallels, Agarwal asserted that India’s consistent growth, even at rates of 7 to 10 percent, can lead to substantial economic advancement, echoing Subramanian’s projection of India rising to the top two global economies by 2047.

A Bold Economic AmbitionWith unwavering conviction, OYO founder sets forth his audacious ambition for India to achieve a staggering USD 55 trillion economy by 2047.

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From Cricketing Glory to Economic EminenceDrawing an intriguing analogy to India’s cricketing journey, Agarwal reflected on the evolution of India’s economic landscape. He spoke on the 1983 Cricket World Cup triumph, where leadership was centralised in the hands of cricketers from metropolitan cities like Bombay, Delhi, and Kolkata.

Rise of the UnderdogIn a testament to India’s evolving narrative, Agarwal pointed out the shifting dynamics within Indian cricket, where players from smaller towns and cities are now the torchbearers of success. He lauds the likes of Rinku Singh, symbolizing the emergence of talent from lesser-known regions. This transition mirrors the transformation in India’s entrepreneurial landscape.

The New Face of Indian EntrepreneurshipAgarwal also spoke on a paradigm shift in entrepreneurship, transcending traditional epicenters like Bombay and Delhi. He envisioned a new breed of entrepreneurs, driven by simplicity and a grassroots perspective, poised to transcend geographical boundaries and establish enterprises of national significance.

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ABOUT EVENTAt this landmark forum, strategists, policymakers, and influencers accountable for India’s future will converge to celebrate the achievements thus far, take stock and unearth the direction that the nation will take on Government, Politics, Economy, National Security, Health, Diplomacy, Infrastructure, Technology Innovation, and other such aspects that would define our future.