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| In the long run, growth entails more than just strong financial results and shareholder wealth. Economic success is incomplete without sustainability, and the essence of this sustainability is the ability to meet today's economic needs without compromising on resources for future generations. As an economy grows, the richness and extent of its natural resources come under the threat of depletion. Hence, new industrial policies need to be framed to enforce stricter environmental standards. Together with sustainability, an appreciation of inclusive growth is imperative to ensure that growth is realized not only in discrete pockets in urban areas, but also permeates down to the rural masses. Societal equality aside, it also makes economic sense for India to ensure that growth be inclusive as it would mean huge business opportunities for firms who venture into untapped rural markets. In order to reach our long term goal of economic might, India should ensure that it is on a growth path that is optimum, environment-friendly and inclusive, towards a state of affairs that is near equilibrium, for its people, and its land. |
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