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FMS, Delhi Holds 4-Day International Conference on "Human Capital Formation in the 21st Century" Day 4
The keynote address at the valedictory ceremony was delivered by Prof. B. B. Bhattacharya, Vice-Chancellor, Jawaharlal Nehru University. Mr. Bhattacharya began by putting forth the thought that lack of natural resources actually spurs the optimum utilization of human resources, and countries that are inordinately gifted with natural resources actually end up as decadent in terms of human capital growth.
He then stated that more than the phenomenon of brain drain, he is disturbed by the possibility of brains going down the drain in India. 3 out of the top 10 richest British today are Indians and the Indian community is the richest migrant community in US. The factors that impede our growth back home are then clearly lack of suitable organizational and management skills to tackle the problems inherent to the Indian business climate. He then furthered the idea that Human Capital in India can be suitably harnessed by utilizing the endogenous theory, which states that growth has to come from within. Steps must be taken to ensure that the human share of professionals, which contribute 1% of the Indian population, constitute 10% of the workforce and have a growth rate of 25-50% increases at a stepped rate. He concluded his address by stating that the seat of wealth has moved through the ages from land-owners to industrialists to resource owners to the idea-people, and it is only the novelty of ideas that can help India to achieve absolute advantage in diverse areas of core competencies. Contributed by - |
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