The generality of thought is genuine and thrust upon the relevancy of the matter. India always held great promise. The scene in the country has undergone a sea change. Our economy from past years till date is at the growing stage. Many new advancements and changes can be seen when we call our country as a developing country. The Indian economy has had a drastic change from past years. The policy making takes into the account all the genres of people and their veto becomes the ‘veto power’. The economy now has a major role to play and has to be proven in context of the changes brought. Though our approach towards policy making has been conservative but that has proven beneficiary for long term development and ensure stability and continuity. It has been cost effective and promotes maintenance of traditional institutions and supports gradual change. The issues are worth debating and can take us to new conclusions. The whole of the economy is stirred by the augment of Globalization, Industrialization and privatizations. Suddenly the 8M’s and 4P’s make sense to us in context of management. The advent of the globalization has by far been very successful and has been revolutionary in bringing change in the society. The Indian companies now have delivered and accepted various changes through the mergers and the acquisitions of the foreign companies with them. From quality control to work performance they all have met the specifications with the global standards. Walking at a very edgy pace makes it more tech savvy and more sectors specific. The vision, mission and values are clearly defined and imbibed in the minds of the people as per the requirements of the companies abroad. As seen it surely has become truly global in its working and culture. The work culture is more concrete and streamlined as seen from the earlier chaotic working conditions. The idea behind these thoughts propels and births from the very basic reality of the Indian society which is at a developing stage. The improvement stems from the very basic infrastructure within the country. The economic growth leads to political stability, which is a very important aspect in the over all growth and development of the Indian economy. The political stability is an important ingredient in the growth structure but is a dependent factor in its own self.
Among the various sectors which would be needing attention, tourism is one which can be highlighted and can bring immense growth in the economy. It needs high focus and should not be neglected, after the recession hitting the Indian economy. India being entitled with a rich cultural heritage becomes a materializing hub for a lot of foreign buyers. The collective effort on the economy if channelized in the right manner can bring wonders and can Ancash a lot of business opportunities in the country. To enter and compete amongst other tourism industry should be promoted. It harbors cross-culture interactions and bring business across borders. Showcasing a connecting medium it delivers the right channel and business if streamlined in a proper way. Mainly the diversification of culture highlights tourism from the past and also in the years to come. The study of management teaches constant change, the old replacing the new. The connection of this thought and attitude can be linked and well portrayed through our young entrepreneurs, as they are awarded and accolades well as per the industry standards. They are the harbingers of ‘CHANGE’ which is much appreciated and accepted by the industry. Encouragement and support from all possible parts within the country is what they need and we have to listen to their thoughts and ideas, as they say that ‘youth empowers the Indian economy’. The youth empowering movements have been really successful and politicians like ‘Rahul Gandhi’ sets by far a great example in the history of the Indian political system. The advent of change and improvements also can be seen through FFI (Fee for intervention) and VC (venture Capital) proving beneficiary and positive improvements in the Indian economy system. Fee for intervention propels the encouragement of regulatory bodies intervening and questioning the revenue pattern for any consultation work done, with a just and a right voice. FFI in the years has brought a just and a legal system in the working of the employability structure in the industry. VC i.e. Venture capital on the other hand encourages long term investments and becomes a futuristic growth for the Indian economy. The accepting of both of these has brought good change in the system and proves fruitful for our economy. The understanding and the popularity of these concepts stems from the literacy and knowledge of most of the sectors. Here come the grounds of education playing a crucial role which would shapen our economy. Acquiring the right talents pool and training them becomes high prioritized. The manpower is immense but the talented ones are few, therefore education to one and all especially a youth country likes us becomes the most important factor in the progress of the country. The right kind of manpower and talented workforce can only match the economy needs as discussed. The skilled workforce with apt training can only be fruitfully when we talk about to bring the real change in the Indian economy.
Mr. Manish Gupta