corporate-growthOn a Friday returning from Delhi after the German ambassador’s “At Home Dinner”, some thoughts.

Dr Martin Ney and his charming wife – Gabrielle hosted a select group and what an interesting evening with Dr. Vijay Joshi, the Emeritus Prof and Researcher from Oxford. His latest book – ‘India Long Road – The Search for Prosperity’ is a must-read.

China, S Korea and Taiwan were all able to move up as Economically Well Off Nations, only when they achieved more than 7-8{aff5a224634bf574f692c8c7d068a0713fecca4ea38a30d3005107227dbb12e7} growth, consistently for two decades.

Countries in South America and others had high growth rates, but all fell off, with growth not being consistent over long periods.

For India to have consistent growth, Dr. Joshi rightly argues that ‘Business as Usual’ will not work. The role of the State, Market and Private Enterprise must be redefined and we must have aggressive reforms.

Subsidies for Fertilisers, Kerosene, Electricity, Water, etc. etc. are all huge drains and leakage with Corruption and Inefficiencies. A better system for the 200 million poor is to have DBT – Direct Benefit Transfer. If done well, GDP will shoot up by 4{aff5a224634bf574f692c8c7d068a0713fecca4ea38a30d3005107227dbb12e7}.

Let me share this; there are many scholars and economists, who can identify what is wrong and what needs to be done, but the problem in our rather large, chaotic and complex country is the “HOW”.

Each one of us, the educated middle class has to be involved in Nation Building… in our own small ways by being Ethical and promoting Transparency and Accountability, the SEEGOS way….