what india needs to cure its economic ill- today & always.
what india needs to cure its economic ill- today & always.?
As per med what India need for today is to promote in what we are best.
India have highest Engineers and mostly Software Engineers, India need to promote the software Industries at big time and catch up with world leaders.
Also Manufacturing sectors decide the economic stand of a country, India need to Promote its Manufacturing industries. Excise law should be made more liberal and more intensives should be given to manufacturing sector.
For today and always:
India Should promote the Entrepreuner skills in India. India have highest youth in world and young minds are more innovative, India should promote the entrepreuner culture and tax incentive should be promoted for startup. I would be happy if India announces, no taxes and much legal compliances for first time entrepreuners for first 5 years. It would be great.
Also India spends a huge budget in buying Defence Equipments, India should promote the Degence industry and privatise the defence sector to some level.
Just a thought by experience.
India should engage in developing for self and not help make others business better.
For example, IT culture is so famous in India, but does it really benefit India other than employment? In IT industry all you have as an assets is the employees, Companies spend a lot on employees and at the end these assets work for client companies, directly making foreign business work easy, making their work simpler.
Only benefit is Indians get paid, and foreign markets get their work done.
The take home point is work for Indian clients, work for Indian problems, provide solution to Indian markets. help them grow.
India should also emphasize on Manufacturing industry more as the assets involved in this business are raw materials( which are self prepared or imported), the finished products which will help the Indian market to produce more. the assets are buyable and sellable entity which will generate and helps cash flow.
What India need to do first is not to run behind the western policies and culture.
India and Indians need to wake up and retrust the Indian Culture and Rich Heritage.
Indians are among the most talented, skilled brains in the world, which we need to understand.
We should promote and share the Indian products, Indian Culture, Indian Traditions, Indian Skills, and Indian Services.
Most of Indian youth are not bothered about the Indian Politics rather just criticize the current political environment and Corruption. They should come forward to carry out a determining campaign against the corruption at grassroots level.
And the most important nothing is going to happen in just a day or month. It is going to take place in years but once started it is definitely going to transform Indian Economy.
Agree with you. Well crafted thoughts. Hope some day our country implement them.