OUT OFTHE RUT
How a faltering nation can reclaim the India Story
Energy security is important. India has abundant resources, what it needs is reform. We have given the world some of the best IT, automobile and telecom companies. It’s now time to focus on natural resources and manufacturing industry. The next government should provide strong, decisive leadership. The government should sell 51 per cent stake in public sector firms. Let these firms be run by CEOs who are answerable to shareholders. We need to have at least 20 more firms of the size and capability of Cairn India.
India cannot do without returning to a growth rate of 8-9 per cent. We are capable of doing it. In a diverse and pluralistic country such as ours, we must ensure that benefits of economic growth also reach the disadvantaged sections. Trickle down effect works in rich countries, not in ours. More than 15 million young Indians join the nation’s workforce every year. We have to create jobs for them and plan and build cities of the future. India sits on the third largest iron ore reserves in the world but we have not been mining enough.