The Hindu Business Line : India@75: Optimism is the first requirement

Hyderabad, July 17 It required a lot of optimism and perseverance for Mahatma Gandhi when he led the freedom movement to achieve ‘Poorna Swaraj’ in 1947. May be it is high time now to repeat such an endeavour to unleash the hidden potential for growth in the economy.

This forms the crux of ‘Vision for India @ 75’, envisaged by the noted management Guru at the University of Michigan, Prof C.K. Prahalad.

Requirements

“India can be a source of global innovations with over 10 per cent of world trade characterised by low-priced yet high quality products and services in 2022. What we need is a high degree of moral leadership backed by economic strength and technological vitality,” Prof Prahalad told newspersons at a media conference organised by Young Indians (YI) of the Confederation of Indian Industry (CII) here on Thursday.

The ‘India@75’, now taken up by the CII as its theme, has everything to pep up one’s imagination and optimism. Take for example, over 200 million college graduates accounting for 16 per cent of population, at least 30 companies among top 100 Fortune companies in the world, 10 Nobel Prize winners and the list goes on.

Essentials

But what it takes to achieve this feat? “First requirement is optimism and a mental debate on the need to do this,” according to Prof Prahalad.

“There are six essential things to be achieved; global scale, environmental sustainability, new price performance levels with high quality, market-based decisions, focus on social equity and rule of law,” he said.

When asked on further prioritisation of these issues, he said focus on social equity, environmental issues and rule of law are important.

“The income inequalities are widening. They have to be bridged not by making the rich poorer but by increasing the number of rich people by economic empowerment. Education should be universal which, in turn, brings in moral leadership. Ecological stewardship is required for improving the quality of life of individuals. Rule of Law is vital as India is surrounded by disturbed neighbours such as Sri Lanka and Pakistan and also threats to law and order in some States,” he explained.

Accountability for performance, any business, politicians, civil society and bureaucrats is a must, he added.

Can all this be achieved in next 14 years? “I am an optimist and I believe it could be done. If Gandhiji was pessimistic, we would not have got independence or it would have been delayed. If an entrepreneur is pessimistic about viability of a business, will anybody start a business?” he questioned.

May be it pays to dream and strive to make it a reality.

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