A naukri.com initiative
Medium
4w
141
Image Credit: Medium
India’s Economic Ascent: Organic Entrepreneurship Trumps the PEVC Mirage
- India has the potential to emerge as a global economic leader by 2060-2070 per the author, who had predicted this in 2012 at a conference in the Indian Chapter of the Table Club in Udaipur.
- India’s educational prowess and intellectual capital, evidenced by recent triumphs at the Chess Olympiad, are key ingredients for long-term economic success.
- The author argues that India’s rich tradition of organic, grassroots entrepreneurship is the real backbone of its economy, rather than unicorn startups or PEVC funding.
- India’s democratic, free, and inclusive society fosters a diverse array of entrepreneurial ventures that are not centrally planned or overly dependent on PEVC funding.
- India’s young population and emphasis on education provide a significant advantage, as the workforce is not only numerous but also versatile and adaptable.
- Foreign investment, particularly from entrepreneurial investors committed to long-term growth and value creation, will be essential. Opening up to Foreign Direct Investment should be aligned with a similar increase in allowances for local top entrepreneurs to expand cross-border.
- India must balance its approach to foreign investment, being cautious about allowing unfettered foreign investment from short-term traders and foreign portfolio investors.
- Sustainable, revenue-driven growth rather than chasing unicorn valuations is key to building an economy that not only competes globally but also provides widespread prosperity for its people.
- India’s economic future is bright, positioning its pieces wisely in the grand economic chess game of the 21st century with a focus on organic growth, patience, and strategy.
- India will achieve a remarkable endgame by 2060-2070, emerging as a global economic leader based on millions of entrepreneurs who build their businesses one step at a time.
Read Full Article
8 Likes
For uninterrupted reading, download the app