The much talked about Prime Minister Modi’s America visit, will happen is few days time. Modi's interaction with the leaders of Japan, China and with the neighboring countries, now visit to the US will open new vistas for the Indian economy and it is a positive measure to place India on the world map, as a leader rich in all segments like economical, cultural, spiritual and caring for its citizens
The Challenge rime Minister Narendra Modi faces is to make policies for equality of conditions wherein anyone can chart their own course with initiative, persistence and an enabling policy regime. The fundamental policy of the regime led by Modi should be to sustain social gains while ensuring that the young entrepreneurs
can participate more meaningfully in the economy by sharing in the fruits of economic growth hitherto enjoyed by the select few crony capitalists.
It is only 1.25% of the entire population of 1.30 billion in India benefits of the economic development, primarily due to crony capitalism/ corruption.
Select few wealthy business houses are the privileged ones as they take more privileges from the government, go on accumulating wealth because of Crony Capitalism.These few privileged business leaders often dictate terms to the government in formulating economic policies. This group of elite business
houses forms a cartel and the entry into this “Crony Capitalist Club” is limited.
It is unfortunate that only these capitalists accompany trade delegations to the foreign countries, for discussing the big business prospects between the countries. There are thousands of new breed young entrepreneurs through SMEs have set up successful business ventures with innovative ideas, thereby giving employment opportunities to thousands of people have not been included.
For instance, the success of 21 Dalit entrepreneurs with their humble origins, and the grit they displayed in building successful enterprises, needs support from the government in expanding their businesses.
These are the people should be bidden to join the trade missions, to interact with the businessmen in the developed countries, for updating their technical skills and to deliver a collaboration in manufacturing which will enable these initiatives to employ more number of people.
Like the Dalit, oppressed, and the backward classes, youths who are running successful enterprises need exposure to the extraneous technology. If these entrepreneurs with a little help and nudge, will enter manufacturing supply chains and some of them will turn into big firms in their own right.
Having faced trying circumstances growing up, there are many more willing role up their sleeves and do what it needs to make the task done. The SMEs growth will create more jobs and competition in the market, not the least exports, The growth generated by SMEs will help the nation to become an economic super powerhouse.
