Page 18 - Forbes - Asia (June 2018)

FORBES ASIA
A CHAT WITH K.V. KAMATH

Indian Banker

in Shanghai

Heading a Brics lender, K.V. Kamath sees ties growing between its biggest backers.

BY RUSSELL FLANNERY

K.V. KAMATH is one of India’s he irst to move from India
most respected inanciers, having into China have been the
run ICICI Bank till 2009 and Indian tech companies. I think
serving as its nonexecutive chair- that part of the relationship will
man through 2015. By then he grow. hey are large employers,
was also prominent on the Infosys so they are welcomed to various
board. cities. hat continues, and that
His career took a turn in 2015, itself will drive commerce and
however, when he became the irst trade. he economic relation-
president at the New Development ship will then be built on a very
Bank, a multilateral lender in strong foundation.
Shanghai set up by the govern-
ments of Brazil, Russia, India, India and China are both
China and South Africa—col- enjoying a period of very
lectively the Brics countries. In an dynamic entrepreneurship.
interview with Forbes China at How can your bank facilitate
the bank’s headquarters, Kamath, the intermingling of some of
now 70, says he inds long-distant that energy?
India and China showing “great As our private sector lend-
interest in wanting to work ing starts taking shape in the
together.” future, we will push on this
entrepreneurship front between
FORBES CHINA: How do you China and India. In the next
see the economic relationship three years, there is going to be
between these two in the future? a signiicant relationship in the
K.V. KAMATH: he direction internet and services sectors.
of this relationship is set by the
leadership of these two coun- To what extent are you work-
tries, and the frequent visits Kamath’s accomplishments earned him our high praise in 2007. ing to help countries align
by the prime minister of India with the China’s Belt & Road
and the president of China positively drive the priority for the country, we will see win- initiative?
this. For example, whenever the Consulate win situations. Of course, this is already he bank is mandated to mobilize
General of India here in Shanghai has an happening in India, in part in the coal sec- resources for infrastructure and sustain-
event to introduce economic opportunities tor as a signiicant portion of the coal-ired able development projects in Brics and
in India to a group of Chinese businesses, plants set up in the last ten years came from other emerging economies and develop-
there is great interest. ... Many Chinese China. he same thing is happening now in ing countries, complementing the eforts
companies have set up shop and manufac- solar, in the renewable energy ield. Some of of multilateral and regional inancial
turing facilities in India, and those brands this is clearly visible, and some of it happen- institutions for global growth and de-
will be visible in India. ing quietly under the surface. velopment. As we get to projects which
With the eforts that are being made by are in this direction, we would consider
India on metro networks within cities and How do you see Indian companies getting them. However, as of now, we don’t have
other infrastructure projects that are now further involved in China? any projects in this direction. F

16 | FORBES ASIA JUNE 2018