The Hindu Business Line : `Production Possibility Frontier theory must be implemented'

THEORETICAL: Mr G. Giridhar Prabhu, Proprietor of Achal Industries, delivering a BL Club lecture to MBA students at Mangalore University on Thursday. — R. Eswarraj

Mangalore , Jan. 18

The Production Possibility Frontier theory needs to be implemented in the country to improve the well-being of Indians, according to Mr G. Giridhar Prabhu, Proprietor of Achal Industries, Mangalore.

Delivering a lecture on `Export management', organised as part of the Business Line Club activities at Mangalore University on Thursday, he said that Production Possibility Frontier shows the maximum amount of production that can be obtained by an economy, given its technological knowledge and quantity of inputs available. He said the theory represents the menu of choices available to society.

Stating that Production Possibility Frontier theory is not discussed in India, he said the country could close its trade gap, if it is implemented diligently. The country needs to discuss the theory, as it has good resources in various sectors.

Better opportunities

The theory will help improve employment opportunities and income levels.

Mr Prabhu said there has been increase in the country's exports of minerals, ores and petroleum products in the past few years.

Speaking on cashew exports, he said the Vision 2020 document of the Cashew Export Promotion Council strives to increase India's share in the global market and maintain leadership in all respects. The aim is to increase the country's cashew exports to Rs 5,000 crore by 2020. Currently, the country is exporting cashew to nearly 70 countries and the plan is to take this number to 120 by 2020, he said.

MANGALORE'S ROLE

He said the export sector should take the advantage of Mangalore, as it has the necessary infrastructure in place. The region has a major port and boasts of air connectivity. There is good scope for exploring the opportunities in both the manufacturing and services sectors in the region.

Mr T. Ravi, Senior Regional Manager of The Hindu, gave a presentation on Business Line Club on the occasion.

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