India’s Mission 10-20-30 (Part 6)

I am continuing by summarising the points that I gave in a talk at the Charcha 2020 event.

The  key question to ask is: Why are some nations rich? Poverty is the default condition in the world. A few countries made the right policy choices to create prosperity for their people. When one studies these nations, we find that the common theme has been policies made on the basis of a set of “prosperity principles” which included some or all of:

  • Limited Government
  • Non-Discrimination
  • Economic Freedom
  • Decentralisation
  • Property Rights
  • Free Markets
  • Rule of Law
  • Free Trade

Contrast these with the choices we made in India over the past 75 years:

  • Limited Big Government
  • Non-Discrimination
  • Economic Freedom Command and Control
  • DeCentralisation
  • Property Rights Limited
  • Free Markets Price Manipulation
  • Rule of Law Delayed Justice
  • Free Trade Protectionism

It is not surprising that Indians have not become rich. The pandemic-caused Third World War will be made worse by government actions unless a very different path is chosen. In 1947, India achieved political freedom, but the new political masters continued with British Raj 2.0. Only the skin colour of the rulers changed. And therefore, the outcomes did not change.

What we need is a new path – Nayi Disha – that charts a new course guided by the prosperity principle I outlined previously. India needs to be set free from the clutches of the government (politicians and bureaucrats).

At times like these, we must remember Daniel Burhnam’s words: “Make no little plans. They have no magic to stir men’s blood…Make big plans; aim high in hope and work.”

This where Mission 10-20-30 comes in.

Tomorrow: India’s Mission 10-20-30 (Part 7)

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Rajesh Jain

An Entrepreneur based in Mumbai, India.