India’s economic story is often told through growth numbers, expressways and rising infrastructure, but former HDFC Bank Chairman Atanu Chakraborty tells us the next phase of growth will demand deeper reforms.  
  
In a wide-ranging conversation, Chakraborty acknowledged India’s strong macroeconomic performance, sustained growth and infrastructure expansion over the last decade. Yet he pointed to emerging challenges: slower private sector investment, pressure on capital formation, subdued consumption and the need to unlock stronger participation from both investors and industry.  
  
On banking, he argued that the sector must evolve beyond scale and focus more sharply on trust, transparency and customer-centricity. According to him, long-term banking strength depends not only on asset quality but also on governance structures, accountability and restoring investor confidence.  
  
Discussing innovation and AI, Chakraborty rejected the idea that India has missed the AI opportunity but said the country must shift from being largely a services provider to building globally competitive products and platforms. He also highlighted funding constraints faced by startups and stressed improving access to equity.  
  
His broader message: India’s next growth cycle will require structural reforms, smarter regulation and stronger institutions, not growth alone

Atanu Chakraborty & JN Singh Discuss HDFC Exit, India’s Growth, Banking Reforms & AI Future