"VAN" (Kurukshetra Bureau - Haryana) :: “The covid created economic crisis will prove to be life-changing period for the consumers, producers, distributor and traders in the global economy .including Bharat with recession if not depression,” said former Vice Chancellor M.M. Goel, a known needonomist professor retired from Kurukshetra University.
He was addressing the CMS webinar on ‘Critically Envisioning the Business, Economy, and Society in Post-pandemic Times’ organised by Guru Gobind Singh Indraprastha University, Delhi.
To succeed in ‘ Make in India’ mission, we need to increase return on training investment (ROTI) for skills among youth, told Professor Goel.
To convert the challenges into opportunities in post covid era, we have to be alert, aware and awake with wisdom and rationality as stakeholders for the conversion of the economy into needonomy , believes Professor Goel.
To shift the gears up for the revival of the demand in global economy, we must understand NAW (need, affordability and worth) approach of international marketing, said Professor Goel.
To make the Indian goods attractive for global consumers , we have to give brand name to the products of MSMEs which calls for multinational corporation (MNC) status to the Khadi and Village Industries Commission (KVIC), believed Professor Goel.
We need to adopt aggressive export oriented approach with diplomacy in pursuing Atamnirbhar Bharat Abhiyan by thinking globally and acting locally as Glocalization. Lip service for Vasudhiava Kutumbakam (the world is one family) as the Indian ethos is not sufficient , said Prof. Goel.
To revive the economy, we have to adopt ‘Needonomics’ ( economics of needs) which is nonviolent, spiritual and ethical in nature and deserve attention of the prime minister and his think tank , believes Professor Goel.
To become global guru of good governance, we have to change our looks, actions and words (LAW) and become street smart consumers, producers, distributor and traders, explained Professor Goel.
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