There is evidence that the current economic crisis, has been “financially engineered”. The rewards have been high for a few, but collateral damage inflicted on the rest of the world has been extremely high.
The answer to getting out of the crisis, is to increase aggregate demand (read expand size of markets) so that every other economic variable can move into gear. So where does the world in general, and India in particular, go from here?
The answer is INNOVATE, to survive and thrive:
· While “developed” markets will stay saturated, the only option would be to develop and serve untapped markets. Many are realizing that rural India (BHARAT) is one such opportunity. Bringing Bharat into the mainstream would ensure greater markets, greater growth and most importantly, development of the nation.
· Education and IT are the two levers that can unlock the market potential of Bharat.
Technology (especially IT, Internet and Telecom) has already shown us, its ability to empower India:
· India’s telecom industry, among the most vibrant (and profitable) in the world, is releasing entrepreneurial energy, across all sections of our society.
· The National Stock Exchange has taken the stock market from the hands of a few, to the “aam aadmi”.
· The Railway Reservation system has demonstrated the value IT can bring, to the lives of all sections of our society.
· Much, much more is possible – e.g. RTI, E-Governance…
The answer is clear – empower the poor, by giving them access to the benefits of technology. Create new markets. Spur growth. And hence buck the economic downturn. The big question is – how can we reach the benefits of technology to the poor? We can do so, through EDUCATION.
Armed with a working knowledge of English, and the ability to use tools, such as the Internet, email, etc.; we can rapidly bring rural India into the mainstream of global markets – as buyers and suppliers. Imagine a farmer being able to take orders online and deliver directly, without middlemen and bureaucracy! The value of this connectedness cannot be undermined. The cell phone has already reduced the distance between places and people. This “connectivity” has served as a leveler between Bharat and India.
Education, especially in IT literacy must be given the importance it deserves. And the possibilities are endless. Investment in Education is possibly the best investment anyone can make. Education will empower people to rise above a world ridden with fear and uncertainty. And, march confidently into the future.
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