My vision of good economics.
When you look around the world, it’s fair to say that today different economic period exists. Growth variations, whether in geographic regions or countries, or in the end markets serve not the barometer. Today’s economic landscape reflects some end markets stagnant for a year or two, others see modest steady growth, others ebb with erratic growth. In such turbulent landscape, the challenge is to increase presence in current or undeserved markets through innovative product development and seek customer support activities that provide value and thus help monetize.
Sound economics demands cultivating a vision that addresses needs of entire population, rich or poor regardless of cast and creed. Precursor to that vision is the trust that gives opportunity to co-create solutions that we learn from and overcome fears of ever-changing conditions. Be it natural calamities, social unrest, unlawful activities of kidnap and ransom, you name it, all these present opportunity to work together for empowerment of people. Building a spirit of partnership and relationship of co-existence is important source to develop competitive advantage.
Easier said than done. Trust is something you have to earn. It’s built on making hard promises, and then keeping them. Having the courage to make hard promises and the integrity to keep them, over and over again, is the basic fabric of trust and transparency. Building a culture to Believe in what you see is what you get, an open culture of being quick to recognize one’s mistakes and correct them. Trust to get better and cultivate a relationship with regulators that is one of partnership avoiding blowups. Trust of all stakeholders with common goal that lends to a constructive partnership and reduces risk, both to the institution and to the system as a whole.
I believe under the strong leadership and vision of PM Modi, India stands better chance to succeed and realize a wholesome economic future, good for all segments of population. Today, the accomplishment of this administration far exceeds what was achieved in past decades. As a patriotic American Indian but also with great expectations and aspirations for growth of my birth country, I be-leave India stands a better chance to experience exponential growth.