INCLUSIVE ECONOMIC GROWTH PAVES THE WAY FOR INDIA’S FUTURE | Uma Mansharmani | TEDxGPCET

30 Sep 2024 (3 months ago)

Importance of Economic Growth

Economic growth, specifically growth in a country's GDP with price power parity, is essential so citizens can afford a good standard of living. (47s)
Inclusive growth, which benefits all citizens, is crucial for social stability, attracting foreign investment, and overall economic growth. (2m9s)

A strong market economy, pragmatism, and empowerment are the three pillars of inclusive economic growth. (5m52s)
To promote economic growth, policies should focus on ease of doing business, enabling participation from individuals of all socioeconomic backgrounds. (14m51s)

Inclusive growth involves providing basic necessities like food, water, power, shelter, and internet access to all citizens. (17m0s)
A key aspect of inclusive growth is empowering individuals through education, upskilling, and fostering a growth mindset, enabling them to contribute to the nation's economy. (19m21s)
Providing equal opportunities and capability-building resources to individuals from all backgrounds can lead to significant contributions to the country's growth and make it a leading nation globally. (25m20s)

Some industries in India have structural entry barriers that limit participation and growth, and structural reforms are needed to remove these barriers and promote inclusivity. (8m24s)
People living in metros have access to more resources and opportunities than those living in other areas. (21m36s)
It is important to provide equal opportunities and resources to underprivileged sections of society, including tribal areas and marginalized communities. (25m0s)

Businesses from rural areas in India are increasingly using digital marketing to reach clients both domestically and internationally, contributing to economic growth. (7m55s)
India's vision of becoming a "Vishwaguru" (world leader) by 2047 requires addressing social and economic disparities, empowering marginalized groups, and fostering a sense of ownership and belonging among all citizens. (9m19s)