The Cow of Plenty
The Cow of Plenty
The Cow of Plenty
The Cow of Plenty
Much of the extraordinary progress that India has made in recent years stems from the fact that successive governments have championed literacy. No economy in the world today can afford to neglect the education of its populace, as this ensures a literate and numerate workforce. The remarkable success of literacy programmes in states such as Kerala has inspired Low Income Countries (LICs) around the globe. Yet even with highly skilled workers there is no guarantee that the economy will not be buffeted by the cruel winds that periodically blow across the economic landscape. The harsh realities of the global economy have done much to concentrate minds in recent months. Our inter-dependence has been cruelly exposed by the international financial crisis and our vulnerability to the vicissitudes of the economical cycles has been made all too apparent. Sadly, there has been much wringing of hands and too little decisive action. Companies, corporations and even entire countries have appeared to have no contingency plans, no Plan B. As the storm begins to subside it is essential for nations such as the Philippines to take stock and plan their forward strategy, one that minimises risk, yet at the same time seeks to maximise potential.
For a nation such as the India some form of aspirational template exists in the form of the Millennium Development Goals (MDG). Eight laudable aims that need to be at the forefront of all planning. Rather like environmental considerations these need to be embedded into planning and strategies at all levels; sadly all too often they are viewed as an optional extra.
Whilst considerable progress has been made it is essential that we are all familiar with them. It is only when we actually start to commit them to memory that we realise just how few key decision and policy makers are aware of what they are:
Eradicate extreme poverty and hunger
Achieve universal primary education
Promote gender equality and empower women
Reduce child mortality
Improve material health
Combat HIV/AIDS, Malaria and other diseases
Ensure environmental sustainability
Global partnership for development Source: www.undp.org.in
Naturally, with a country the size of India there are huge regional variations and it is beholden on State Governments to examine what is going well, but equally that which requires a redoubling of effort. Much good work has been done, yet more remains to be done. Targets are of little use unless there is a concerted effort to achieve them at every level.
Any society that is serious about making significant headway has to focus on creating a business friendly environment, one that minimises the cancer that is corruption and one that to be a true and mature democracy allows a free and responsible media. If these yardsticks are employed the current situation is further elucidated and it becomes clear what India needs to work on when compared with her neighbours and the other BRIC (Brazil, Russia, India and China) economies.
Country
Corruption Perception
Index ranking 2009
Source:
www.transparency.org
Ease of doing business ranking 2009
Source:
www.doingbusiness.org
Press Freedom Index 2009
Source:
www.rsf.org
BANGLADESH
139th
119th
121th
BRAZIL
75th
129th
71st
CHINA
79th
89th
168th
INDIA
84th
133rd
105nd
PAKISTAN
139th
85th
159th
RUSSIA
37th
46th
59th
SRI LANKA
97th
105th
162nd
Place out of 180
1st place is the least corrupt.
Place out of 183
1st place is the most business friendly.
Place out of 175
1st place is the most media friendly.
Even allowing for a margin of error of ten places either way, these figures are a significant wake-up call.
So what direction should India take? Now is certainly time to take stock. There are four main areas for concern:
Corruption Has become an insidious feature of some aspects of society that is greeted with a degree of resignation by many people. This further impedes economic development.
Excessive bureaucracy Whilst India has managed to attract considerable foreign investment the climate for enterprise and entrepreneurship is still hampered by unnecessary red tape. Naturally this varies from state to state, but certainly tackling with missionary zeal.
Threats to Press Freedom A mature and functioning democracy will be all the more healthy when it liberalises laws related to the media and ensures that those who seek to use wealth, power and connections to intimidate the Press face a robust and impartial judiciary.
The Justice System - The rule of Law has a pivotal role to play in any society. Governments have a duty to ensure that systems are in place to protect all citizens and to support openness and transparency. All too often legal processes are costly, unwieldy and extremely time consuming. If India really aspires to be at the top table internationally it must tackle as a matter of urgency the issue of Enforcing contracts' to be bouncing along the bottom of the world rankings is something that will prove a major impediment to sustained investment and development. For an economy to thrive it is therefore essential that every effort is made to ensure that business law is firm and fair and operating as efficiently as possible. If this is not the case potential foreign investors will locate to more business friendly countries and economic benefits will be lost.
Policy makers need also to give thought to how they assist local entrepreneurs as they can often be a key means of stimulating economic growth and providing employment. Whilst there is some data to suggest that some progress has been made to create an environment conducive to enterprise and investment, it is still insufficient to generate the sort of confidence required to stimulate and attract sustained investment.
Country
Starting a business
Registering property
Getting credit
Trading across borders
Enforcing contracts
India
169 out of 183
93 out of 183
30 out of 183
94 out of 183
182 out of 183
The ranking is the position held by India out of 183 countries in 2009.
Data supplied by the International Finance Corporation, OECD and the World Bank.
All governments by their very nature are reluctant to admit failings, whether at a local or a national level, and yet there are some positive signs for those willing to look for them. There has been an improvement in India's standing in the Press Freedom Index (2009) compiled by Paris based the NGO Reporters sans frontires (Reporters WithoutBorders). A robust, free and responsible press is a good thing in any civilized society. Also the thirst for education at all levels is proving a significant engine for change and it is through harnessing the considerable potential of the country's greatest asset the people themselves that India will continue to move forward. The remarkable hunger for education reminds me of the splendid motto of the Madras Library Association; "To be literate is to possess the cow of plenty."
Mark T Jones,
Director of External Affairs
The London College of Management Studies www.londoncms.com
(Mr Jones will be visiting Mumbai, Calcutta, Chennai and Cochin and speaking with diplomats, business leaders and students during the course of his visit to India from 14th 25th July 2010)
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