|
|
|
|
Articles: Development | Chairman Speak
- Mr. Sekhar BC
| |
A recent study by CII & WEF ( World Economic Forum) visualized the India of 2025.
The study came out with 3 different paths that India growth can possibly take
•Pahale India ( Inclusive Development for entire India )
•Bolly World ( Exclusive Development for few pockets of India)
•Atakta Bharat (Isolation from and with the world)
In light of the future balanced growth of India, it is imperative for us to embrace a model aimed at inclusive development. IT would play a central role in this, is a well accepted fact.
Considering that, it is quite alarming for us to know that the IT investment is only 3.5% of total capital investment. India still ranks 30 amongst the developing countries, lagging behind even Thailand, Vietnam and Philippines.
The flip side is, that it this under investment represents a large economic opportunities for Indian entrepreneurs. For centuries, it is a proven fact that the largest fortunes have been created by expanding the market, by serving the middle if not the bottom of the economic pyramid.
Around 150 years ago, Isaac Singer of Singer Sewing machine fame made his name immortal and created a great fortune by allowing people to pay $5 per month rather than pay for their sewing machine upfront. Millions of housewives could suddenly afford to buy a singer. About 100 years ago, Henry Ford did the same by paying his workers $5/hour enabling the middle class Americans to own a luxury car. Bill Gates laid the foundations of his vision 30 years ago to install a computer on every desktop and in every home. Sam Walton made every thing affordable for middle class in America creating the world’s largest company.
In India, Captain Gopinath created Deccan Airways with a dream of making flying a reality for middle class Indians. Fares ranged from 10%-50% .In no time, he has created an enterprise with a market cap of almost $1 billion. Dhirubhai Ambani had a vision of people being able to talk to each other on a cell phone for less than the cost of a postcard. Today 6 years later Reliance Communications Ventures is worth $8 billion.
What is the lesson here? To create great fortunes, great enterprises need to be built by serving the needs of the middle and bottom of the pyramid which would benefit our society and the country as a whole. This is an extraordinary window of opportunity and those of us who are fortunate to live in these times will look back with some regret if we don’t seize the moment to innovate and be entrepreneurs.
| Be first to comment on this Article!
| |
|
|
|
 |
| Advertisements |
|
|
|
|
| Advertisements |
|
.gif)
