An Initiative To Seek Ideas For Rebooting Indian Economy

Think Change Forum, an independent think tank dedicated to seeking solutions for navigating the post-pandemic world, today announced a new initiative aimed at bringing together some of the most reputed thinkers for developing new ideas to reboot the Indian economy.

Called, 'Ideas for Rebooting Indian Economy in the Post Pandemic World', this initiative aims at holistically looking at select areas of the economy which can create a lighthouse effect and accelerate the pace of growth for the country.

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The world is still recovering from the aftermaths of the Covid pandemic. It will take an entire decade for Governments across the world to succeed in rebuilding their economies to the desired levels. India however is positioned at an opportune fulcrum, to seize a larger role in this redevelopment, provided it takes the right steps quickly. It is in this context that the Forum's dialogue series aims to focus on specific areas which can have a catalyzing effect on the overall economy.

The first event of the series was a high-powered panel discussion based on analyst and commentator Sanjaya Baru's discourse, 'The Secession of the Successful'. The inaugural webinar, which included scholars such as Baru, economist and NIPFP professor, Ila Patnaik; International Relations expert Amitabh Mattoo; and, the noted historian of science Deepak Kumar, dwelled on the issue of the flight of talent and wealth capital out of India and how this challenge needs to be tackled. The speakers were unanimous in their opinion that arresting the outflow of both these types of capital was absolutely necessary to realize the dream of a self-reliant or 'Aatmanirbhar Bharat'.

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The thrust of the deliberations centered around two key issues. One, the wealthy, intellectual, human resource flight from India to the nearby as well as the traditionally 'advanced' nations, and Two, the money capital flight by way of non-residents and tax-haven seekers who are happy to stay abroad while investing or working in India. The classical drain of resources, especially humans, was due to poverty and lack of opportunities here. Today, well to do, educated individuals have no qualms un-packing and leaving for greener pastures. The peculiar issue of HNW Indians going in for dual-passports and investing outside India for better returns was also highlighted. (IANS/SP)