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Interactive Lecture by Professor Jagdish Sheth at IMI, India New Delhi, August 29, 2005: "India should shift its focus from domestic orientation to global orientation so as to take advantage of its inherent resources," said Professor of Marketing at Charles H. Kellstadt Goizueta Business School Emory University, Atlanta, USA and the originator of the Four-A framework (acceptability affordability, accessibility & awareness) Professor Jagdish Sheth. He was delivering an interactive lector to the students of International Management Institute, New Delhi. According to him, India today suffers from four major problems of Domestic Policy, low grade infrastructure issue at international trade levels due to problems of currency conversion and the condition of the domestic industry which thrives on the unorganized sector. "To succeed globally, India will have to be competitive globally. And global competitiveness means better products / services at lower prices," said Professor Sheth. "While human capital and especially aging population is the main problem of developed nations, economic growth engines indicate growth figures for Western Europe in the 19th Century, US and Canada in the 20th Century, and now the 21st Century can belong to India if it is able to take advantage of its large population. This century will be driven by market and economies and this will be the third major opportunity for India," he added. According to him, if India wants it can be the next superpower in Textiles also, as there is long term growth in this sector. India also needs to understand that infrastructure development is the key for this. While delivering his lecture, Professor Sheth stressed that India must aspire & globally compete in best value and competitive markets. His mantra to compete in global markets was that India should create a brand equity for itself with global orientation & a qualitative reputation. India should increase its productivity through improved infrastructural facilities. He said that with its resources the country needs to get access to low cost of capital, invest in design and research and globalise the country's public sector enterprise. Dr. Sheth further added that the new measure of world economies is Purchasing Power Parity and India will overtake Japan by 2025 and by 2050, GDP of BRIC countries according to a Goldman Sachs report will surpass the GDP of all developed nations. Concluded. Click here to post your views/ comments/ experince on this... Contributed by - |
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