As the Indian economy looks to scale up, its foremost challenge is not the absence of any reform, but tardy implementation of projects at all levels. Slippages on the path to the targets continue to deprive the fast-growing economy of optimal benefits from stepped-up public and corporate funding. This is amply demonstrated in all areas – from business and infrastructure to education and healthcare— and one doesn’t need the sorry spectacle of the recent Commonwealth Games to drive home the point. The coming 26th India Economic Summit in the Capital (Nov 14-16) has a suitable theme: ‘Implementing India.’ An FE series starting today chronicles first-hand accounts by corporate leaders on India’s implementation woes, including leaders who have considerable experience overseas and therefore can view these problems from an outsider’s perspective. They do have some solutions to offer. Read on...
India has truly arrived on the global stage and to realise its full potential, its policymakers must give utmost priority to developing its already rich human capital further and faster. The key is to focus on education and human development and connecting the unconnected rural population with the aid of modern communication technologies. Equally important is opening up India’s huge market to the world further. As we prepare for the upcoming India Economic Summit with the theme “Implementing India,” I think the above areas come up right on the top in the order of priority.
I have been travelling to India for several years now and have a tremendous admiration for the richness of country’s geography and its culture. India is a country that captures the imagination of the world. It has a huge population, a vast territory, a very diverse culture from one end of the country to the other, absolutely exquisite food and beautiful arts.
India is also admired for being the world’s largest democracy. This also means, however, that sometimes, there is slow progress in processes. There is also a political mosaic that is not well understood by all outsiders. It is very complex. And yet, the country’s economic power has been built in an extremely short period. This is admirable.
Last year, when I travelled to India for the World Economic Forum’s 25th summit in New Delhi, it was clear to me that this marked the first forum of the “new India”as an established leader in the world. I could sense the country’s drive and motivation.