India's Next Aspiration..!!

India has a potential workforce of 200 million college graduates and 500 million skilled workers, and the ability to generate over 10% of world trade in the next 15 years, provided leaders prioritize this goal.

How can these expectations be fulfilled?

Key Points
• Strong leadership with a clearly articulated vision must augment technological vitality and economic strength – a vision that complements India’s rise as a global economic force.
• Corruption must be dealt with aggressively.
• Business leadership should focus on affordable, high-tech solutions that can be scaled up across India.

Synopsis
Panellists discussed the relationship between government and market forces, and envisioned new models for success and the problems that both business and political leaders face. Economic strength and technological vitality are necessary, but strong leadership is clearly crucial for future growth.

A young, skilled workforce will be an extraordinary resource for an ageing population in Europe and elsewhere, India is in a tremendous position to continue growing economically. But, there is a crucial need to improve access to basic services such as literacy programmes, healthcare and clean water. There was agreement that abject poverty must be reduced, that income inequality will become a dramatically more complex and divisive issue in the future, and that sustainable development is not optional. High-tech solutions are essential but, in a country of India’s size, will only be successful if they can be scaled up.

India has chosen a unique model for development: rather than focusing on a subsidized manufacturing sector, India’s economy has surged atop the services sector, and done so organically with the government relatively in the background. However, concern remains that this has not received due recognition by India’s political leadership. Indeed, politicians have not articulated a clear vision in general to the country.

In terms of higher education, what India lacks is not talent in engineers, but enough skills development in sectors such as advertising, finance, innovation and design.

Concern for providing the poor with world-class services should be a priority for business leaders. One example of innovation in India that recognizes the needs of the people is the Tata Nano, the world’s most affordable car. Another is an eye hospital that performs the same number of cataract surgeries as performed in the United Kingdom, but at approximately 1% the cost. These challenges provide tremendous opportunities for all kinds of products that are needed not only in India but also in Africa, the Middle East and emerging economies.

As India becomes more comfortable and confident in its position on the global stage as an economic leader, its role as global leader must emerge with a proactive voice. Indian leadership must think about their intellectual as well as economic influence. To reach this point, Indian leaders must debate among themselves, but too often they are mired in regional and local politics.

Pervasive corruption is hampering leadership, and must be dealt with head on. India will not develop past a certain point if corruption is not severely curtailed. Not only does corruption raise the ire of the middle class, but it also stands in the way of further economic growth. E-commerce solutions can be a part of the fight against corruption.

Leaders in the private sector have a key role to play, although ostentatious lifestyles and a growing income disparity can often mean they face growing challenges of maintaining the trust and respect of the country’s majority. Although this problem has improved over the years, political leaders must recognize the value of private sector solutions and look beyond the public sector perspective.

Happy Reading..!!