Layoffs affecting a small part of US economy, says bullish Indra Nooyi

“The Infrastructure Bill is going to create lots of jobs, the CHIPS Act is going to create lots of jobs. I’m extremely bullish on the US and its prospects; we are already in good times, there’s going to be even better times for the US,” Nooyi added. “We have always had cycles where there were hirings, productivity changes, layoffs and again hirings. It’s a cyclical thing that goes on, and is very predictable, almost secular.”

Nooyi also said that in the global economy, India is an “enormously bright spot because it is outside of the geopolitical issues… and its population”. As global supply chains shift from one large country to another, people, especially in the western world, are seeking countries with lots of population, skills, and infrastructure to be able to fill the void, she added.

“If India can get its investment in infrastructure right – and I see all the things you’re doing, which is great – it could be unbeatable in the next decade or two. India today is being viewed as the most strategic partner for the US bar none,” she said.

Nooyi, who retired from PepsiCo in early 2019 and has since then been focusing on working on enabling young family builders to have children while engaging in paid work, also said that  not having adequate childcare disproportionately affects women’s participation in the workforce.