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FMS, Delhi Holds 4-Day International Conference on "Human Capital Formation in the 21st Century" Mr. M. P. Bhandara, member of the National Legislative Assembly of Pakistan, was the Chief Guest at the Closing Ceremony. Mr. Bhandara thanked FMS for offering him the chance to interact with veteran as well as upcoming academics in the field of Human Capital strategizing from India and the whole world by inviting him to be a part of the conference. He started his address by reminding the audience that India and China together account for 35% of the world population, and their ability to deliver quality goods and services to the world at competitive prices will decide the course of the world economy over the next 2 decades. He then traversed back into time to enlighten the audience that in 1905, the subcontinent's population was in the range of 175 mn and the per capita income in today's dollar terms was close to $75. Today, the population has swelled to 1.5 bn while India's per capita income is $700 plus. Since India is not unusually blessed with natural resources like the Middle East, this growth can only be attributed to India's skilled Human Capital. He drew an estimate that at a conservative average growth rate of 6.5%, India's per capita income would touch $1100 in the next 10 years, which will do wonders for the whole of the South Asian region. However, the issue to be kept in mind while planning for this growth is that 26% of the population in India and 32% of the population in Pakistan still lives below the poverty line, and this aspect of the Human Capital has to be assimilated in the growth strategies or else the chasm will become insurmountable and lead to its own attendant set of social and economic crises. Mr. Bhandara, incidentally, is credited to be the richest man in Pakistan. He heads Murrey Breweries, Pakistan's largest legally recognized brewery unit. Contributed by - |
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