India Uncut
This blog has moved to its own domain. Please visit IndiaUncut.com for the all-new India
Uncut and bookmark it. The new site has much more content and some new sections, and you can read about them here and here. You can subscribe to full RSS feeds of all the sections from here.
This blogspot site will no longer be updated, except in case of emergencies, if the main site suffers a prolonged outage. Thanks - Amit.
Monday, September 19, 2005
A virtuous economic cycle
Rajat Gupta, speaking to the UN general assembly on September 14, said:
(Link via email from Arun Simha.)
Cross-posted at The Indian Economy Blog.
[E]conomic growth, and our ambitions for the eradication of poverty, depend upon the energy and drive of business and commerce. In fact, I cannot envision an effective development strategy that is absent of -- or uninformed by -- the private sector. Yet when we examine where development has succeeded, in every case business has been the engine of development.Read the full piece here (pdf file). Good stuff.
Because business kick-starts a virtuous economic cycle, new enterprises are formed, new jobs are created, new skills are gained, and incomes begin to rise. Soon, growth and productivity follow, spurring more innovation and efficiency, and bringing the products and services that people want and need. In parallel, people gain opportunity, empowerment and dignity.
(Link via email from Arun Simha.)
Cross-posted at The Indian Economy Blog.
