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Mastercard's Ajay Banga says he is 'a totally made in India guy'
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Mastercard's Ajay Banga says he is 'a totally made in India guy'
Feb 27, 2020 1:43 PM

India-born Mastercard chairman Ajay Banga on Thursday said he was truly the ‘Made in India guy' and his company has been investing in India consistently.

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Today, more than 14-15 percent of Mastercard workforce is in India and the figure does not include back-office and data entry positions, he said.

"These are highly qualified engineers and AI specialities - who are actually designing products and services to the globe not just for India. We have met the data localisation guidelines of the government by December 31st and we are continuing to invest in India,” Banga, who recently stepped down as the company's CEO role, told CNBC-TV18.

On Indian-origin CEOs

Banga said: “It is outstanding that all these folks are getting the recognition they deserve for the quality of work and leadership they provide."

"I don’t think it is only about Indian, but there is a lot of diversity in the management ranks in this country and elsewhere."

"I was very lucky to be one of those in the earlier days, but there were people before me. My boss made joke at Vibrant Gujarat in my first year that I was truly the ‘Made in India’ guy, I have studied in India, educated in India, I have no education overseas."

"I am graduated from St Stephen's College and Indian Institute of Management, Ahmedabad as you know. I believe that is a tribute to the quality of education I got in my growing years in India.”

On steps taken by the government to boost economy

He added: “My general view again on India is - yes, right now the Indian economy is being written about has having challenges, but there are plenty of economies around the world are facing some of those."

"I think the Indian government is seize of the issue and they are taking steps on it."

"I do believe that India’s secular dynamics and India’s focus on growth and its middle-class if handled well over the next few years on may things from non-performing loans on banks and cooperate balance sheets to the kind of effort they are doing on rural benefit distribution in particular, to doing things with labour intensive industries including construction, housing, road building and irrigation and tourism."

He said there are a lot of good steps that have been taken on GST reforms and digitisation and he is optimistic about India.

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