My Dream: Excerpt from a Blog

chillibreeze writer — Barani Vaith

What started as the downfall of a 158-year old bank has now become one of the worst recession periods since the Great Depression (1929). Investors have tightened their money pouches and venture capitalists from various fields – be it real estate or coffee makers – have withdrawn from their usual money lending spree and are reluctant to fund any industry. The worst-hit sector, they say, is banking but I feel the worst-hit sector is the optimistic mindset of entrepreneurs.

When entrepreneurs are resigned, and wary of entering into a business proposition, the future appears grim, and the smug confidence that India maintains while the European countries are anxious about their industries in the future, regarding the recession might eventually give way to panic. How did Korea and Japan excel in semiconductor technology? How did the software industry gain such a momentum in the US and the automobile industry in Germany? Who gave them the stimulus? Did the government handpick the brightest of their citizens to innovate a new technology that ended up in industries proliferating in the country? All the government could do for its industries is to levy subsidized taxes, to encourage foreign trade, to order banks to give the adequate monetary investment for its growth. But can the government set an industry without advanced research? Can the government produce a product (let it be anything: from silicon chips to non-sticky chewing gums) that is better than the contemporary products produced by other industries? What makes an industry better than its peers? What makes a product better than its rival? What makes a nokia handset better than a Samsung phone? Isn’t it clear that the technology used in the Nokia handsets is superior to the Samsung phones? Does it mean the Japanese government is to be blamed for the Samsung phone being rated second? It is clear that innovation and efficient development can produce a tremendous effect.

By entering the global market, India has attracted a lot of foreign investors and on the other side, the slump in one country leads to a reduction in demand in another country and this process goes on like a chain reaction. Like the reduction in demand during the recession we have now. If there is some innovation that reduces the price of a luxury car from ten lakhs to seven lakhs, would it not be a boon to the slumped automobile industry? Would it not create a dream stimulus that could put people into a car-purchasing spree? But for technology to knock at our doors is like trying to grab a rabbit out of thin air. Only by proper education can technology be harvested.

If education depends upon the present demand, there cannot be proper growth at all. If the government invests in its people, believes that proper education can pave the way for increasing entrepreneurship; then every person can tighten his own screws; every person can mend his broken windows; there will be innovations in every field. Depending upon the existing entrepreneurs to provide employment makes the government dependent upon these entrepreneurs alone, so where is the government’s role in encouraging entrepreneurs?

Education doesn’t mean innovating or inventing something, it provides an opportunity for the person to make a living on his own, thus my idea is education can provide employment by itself. A process of self-serving, instead of depending on the imaginary demand caused in a foreign country and back-officed to India, why can’t India create its own demand. Only by education can India truly develop, in the broadest sense, giving equal opportunity to every person to grow economically. You might ask, without a proper launch-pad for the educated persons why should India invest in more education. By education I mean a sound and efficient training with entrepreneurial foresights that would help people to provide employment with increased self-sufficiency. This alone will strengthen the very back-bone of the long foreseen, yet elusive industrial revolution that can change the way the world looks at India.

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Barani writes for chillibreeze.

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