'Only the paranoid survive': Uday Kotak urges Indians to embrace atma nirbharta
Uday Kotak's remarks came after two major reform packages were cleared in the last couple of weeks — one by the GST Council and another by the Securities and Exchange Board of India (Sebi).
- Sep 14, 2025,
- Updated Sep 14, 2025 9:44 AM IST
Kotak Mahindra Bank MD Uday Kotak on Sunday welcomed the latest GST and capital market reforms, saying India must seize the moment to embrace atma nirbhar and create negotiating leverage amid global flux.
"As geo politics interferes with economics, India quickens domestic reform. Reduction in GST rates, and now capital market changes. Time to transform, for every Indian to get out of comfort zone, to embrace atma nirbhar and create negotiating leverage. Only the paranoid survive," Kotak wrote on X.
His remarks came after two major reform packages were cleared in the last couple of weeks — one by the GST Council and another by the Securities and Exchange Board of India (Sebi). Both were announced against the backdrop of rising friction with Washington after the US imposed a 50% tariff on Indian exports.
On Friday, Sebi approved a set of capital market reforms in its third board meeting under new chairman Tuhin Kanta Pandey. The regulator cleared changes to IPO rules, allowed easier entry for low-risk foreign investors, and revamped share allocation norms for anchor investors. The board also mandated that stock exchanges and other market infrastructure institutions appoint at least two executive directors to strengthen operational oversight.
A week earlier, the GST Council, chaired by Union Finance Minister Nirmala Sitharaman, had overhauled the indirect tax system by introducing a dual rate structure of 5% and 18%. The new framework, effective September 22, lowers levies on everyday items such as milk, paneer, bread, namkeens, shampoo and bicycles while hiking taxes on luxury goods and sin products to 40%. Life and health insurance premiums have also been exempted from GST.
"The PM set the tone for the next generation reforms on August 15 when he spoke at the Red Fort and he desired we give the benefit to the people at the earliest. This reform is not just on rationalising rates, it’s also on structural reforms and ease of living," Sitharaman said after the 10-hour-long council meeting.
The reform aims to boost demand ahead of the festive season and support manufacturing sectors hit by global slowdown concerns.
The push to streamline taxes and open capital markets comes as India seeks to balance trade disruptions triggered by the US tariffs with domestic growth drivers.
Kotak Mahindra Bank MD Uday Kotak on Sunday welcomed the latest GST and capital market reforms, saying India must seize the moment to embrace atma nirbhar and create negotiating leverage amid global flux.
"As geo politics interferes with economics, India quickens domestic reform. Reduction in GST rates, and now capital market changes. Time to transform, for every Indian to get out of comfort zone, to embrace atma nirbhar and create negotiating leverage. Only the paranoid survive," Kotak wrote on X.
His remarks came after two major reform packages were cleared in the last couple of weeks — one by the GST Council and another by the Securities and Exchange Board of India (Sebi). Both were announced against the backdrop of rising friction with Washington after the US imposed a 50% tariff on Indian exports.
On Friday, Sebi approved a set of capital market reforms in its third board meeting under new chairman Tuhin Kanta Pandey. The regulator cleared changes to IPO rules, allowed easier entry for low-risk foreign investors, and revamped share allocation norms for anchor investors. The board also mandated that stock exchanges and other market infrastructure institutions appoint at least two executive directors to strengthen operational oversight.
A week earlier, the GST Council, chaired by Union Finance Minister Nirmala Sitharaman, had overhauled the indirect tax system by introducing a dual rate structure of 5% and 18%. The new framework, effective September 22, lowers levies on everyday items such as milk, paneer, bread, namkeens, shampoo and bicycles while hiking taxes on luxury goods and sin products to 40%. Life and health insurance premiums have also been exempted from GST.
"The PM set the tone for the next generation reforms on August 15 when he spoke at the Red Fort and he desired we give the benefit to the people at the earliest. This reform is not just on rationalising rates, it’s also on structural reforms and ease of living," Sitharaman said after the 10-hour-long council meeting.
The reform aims to boost demand ahead of the festive season and support manufacturing sectors hit by global slowdown concerns.
The push to streamline taxes and open capital markets comes as India seeks to balance trade disruptions triggered by the US tariffs with domestic growth drivers.