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India should go for Inclusive and Collective Growth

We Indians are also expected to act quickly and go for extremely  creative solutions that can work as game changer for our economy.  Pre-Corona, the domestic economy was struggling to go beyond 3- 4% GDP. And now it is reluctantly kissing the lowest mark of 1.7%  growth rate.

Pre COVID 19, most of the government’s plans were falling flat due to perhaps unrealistic  check on ambitious planning without being critical about it. As per the experts, few slips  caused due to following reasons:

  • Assessment of impact and unplanned enforcement of demonetization.
  • Unable to win the confidence of foreign direct and institutional investors – poor FDI  turnout. There is a substantial fall in FDI from USD 44 billion in 2016 to USD 40  billion in 2017. 
  • Some of the reasons for slow FDI inflow are:

  • India could not ease-up the process for foreign investors to set up businesses in the country.

  • The home environment also tilted to orthodox religion-based emotional thinking instead of realistic growth-based congenial discussions for WISDOM decisions.

  • India could not ease-up the process for foreign investors to set up businesses in the country.
  • Our country could not strike a balance between serving internal business needs (USD 92 billion) along with external global needs. This imbalance toppled the economy post demonetization, when middle and higher middle classes suddenly changed their freaky buying habits.
  • Government’s intentions have always been forward looking and futuristic. However, the execution and implementation did not match the plans.
  • Government tried conceiving good emotional slogans to realize dreams but unfortunately slogans could not give attire to dreams due to poor planning. Skilling India, GST, India First, Digital India, Clean India and many more social schemes overshadowed business schemes to pull up the ever falling confidence deficit in the voters/citizens.
  • Perhaps the low skill levels within the Indian cabinet also have been a factor that let down the leadership big time.

Indian domestic market size is about USD 92 billion that can be a saviour for the damaged economic structure of the country. Since the global recession does not seem to be exciting at the moment however, collective boycott of China by the US and European countries is an opportunity for Indian trade. But while serving the external needs India must utilize the given opportunity for developing a work force that works with discipline and deliver high productivity and quality products/services in less cost to the domestic market.

For doing this the country needs an Inclusive and Collective participation of the government and people – together. The road blocks today are:

  • Poor managing skills
  •  Absence of a SMART
  • and effective work force
  •  Absence of an eco-system for Invention and Creation
  • No atmosphere for collective and inclusive growth
  • Centralized resource and opportunities for businesses
  •  Poor marketing and selling skills for creating and managing needs
  •  Towering NPAs drowning banks
  •  No direct participation of the government for helping start-ups
  • Weak planning and strategies for uplifting the domestic business market.

To work on the realities stated above, a paradigm shift is needed. The following steps are
required to be implemented:

  • Implement countrywide cost-effective managing skills development program
  •  Develop effective training on JiT (Just-in-Time) topics
  •  Government should invest and promote start-ups with invention and creative business models, with support of a new scheme – GDI (Government Direct Investment)
  • Government should help install small markets in different small cities/towns and discourage the traditional thinking process of CENTRALIZATION
  •  Big-Business-Brothers (3Bs) need to change their business processes following a liberal approach. They should start celebrating Growth Moderation year after achieving their assertive business targets for 2 consecutive years. The business target for the 3rd year should be submissive and gentle for the following two reasons:

  • To help their employees get time to pursue some projects that require inventions and creations

  • To help start-ups get space to grow.
  • Government should try and help modernize traditional skills and businesses repackaging.

Moshy Mission designs a solution that is supported by this strategy

  • Moshy Movement Private Limited decides to implement a unique training program. Moshy WISDOM Learning program for developing the new generation, adequately equipped with the real and JiT skills for creative and critical thinking, product and process design skills, sales and marketing skills and many more. The new generation will help develop an ecosystem for conceiving, developing and implementing
    business opportunities within the country.
  • Moshy Mission’s digital platform (a unique vision and product of Moshy Movement Pvt Ltd) offers opportunities to projects that are designed for Invention and Creation. These projects are to be supported by Moshy Movement Pvt. Ltd. initially till prototypes are successfully carried out and thereafter will be handed over to the government (GDI) for expansion. The solution is discussed in the Moshy Magic Box
    Annexure 1.0 
  • Projects that require not more than INR 300 million should automatically be eligible for the GDI (Government Direct Investment).
  • Tax reductions to encourage and include more tax payers should be the agenda of the government.
  •  Some supporting program, for a limited timeframe, are required to make inclusive and collective growth effective. For example, population control for a stipulated timeline.
  • To control expense on importing petrol, government should encourage use of alternate energies and also focus on decentralization. More thrust on technology could help people travel less or be not so worried of travel time and expense. The solution is discussed in the Moshy Magic Box Annexure 1.0
  • More cost-effective motels should be opened up all over to help travellers take logical breaks while travelling.
  • Government along with people should cultivate habits of patenting inventions to have indigenous assets accumulated to make the economy more solid.
  • A threshold around Productivity and Quality need to be made mandatory for organizations to conform to, for staying in the business. The solution is discussed in the Moshy Magic Box Annexure 1.1
  •  Organizations if fail to offer a visible ROI to the customers, need not to be allowed to continue business. A nationwide initiative should be taken up for such awareness on similar lines as it was for POLIO or Tuberculosis. 
  • Schools should start teaching Economy in early stages,
  • Government should also start thinking of developing a concept of Virtual Currency along with Digital Currency. Solution is discussed in the Moshy Magic Box Annexure 1.2

It is expected that India’s GDP can be increased to 5.8% to 6.3% in the year 2020-2021, if India implements some creative measures on ground, as discussed above.
Country should also come out with products for masses like Facebook – the asset value of USD 50 billion today.
Economy should be taught to individuals using simple training design and dissemination strategies so that the common people can contribute easily.
The country should change some default habits.
Start being proactive from reactive,

  • Concepts need to be explained and demonstrated by implementations,
  • Process should follow rational perspective rather than emotional and many more.
  • Last but not the least, Indians need to evaluate all their needs originated from real pains – artificial needs do not pay off.
  • Government should celebrate 5-years for the Education and Training, a nationwide program to aware individuals with tools for SELF IMPROVEMENT.
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