Text Practice Mode


created Nov 8th 2019, 06:15 by ashish gupta



268 words
26 completed
The scale of the problem is better understood if we recognise that by far the largest number of working Indians is self-employed. Among them are our carpenters and service providers, and neither the grand industrial policy statements of the Nehru era nor Narendra Modi's Make in India programme appear to have realised that they need to be enabled too.
So there is much to be said about concerns with the ease of doing business in India, no matter that the World Bank's perception is overly based on the regulatory regime without adequate attention to infrastructure, and is embarrassingly narrow in its coverage, being confined to Delhi and Mumbai.
Having said the ease of doing business is important, it needs to be emphasised that a business cannot flourish on its own. Its fortunes are tied to the health of the economy within which it is embedded. This proposition is best illustrated through a secular parable. Think of a businesswoman considering the establishment of a glove factory. She is aware that her workers will buy at least some of the gloves to be produced but that this is unlikely to turn a profit sufficient to cover the initial costs to set it up. This would lead her to shelve her investment plan. Imagine though that at the same time a businessman decides to actually set up a factory making cloth for export. This would encourage our businesswoman in her plans as she realises that the workers of the cloth factory will buy the remaining gloves that she will produce. She goes ahead with her investment plan and a business thrives.

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