The future of India is looking very promising and the country will witness rapid growth in coming years,” said Dr Mrityunjay Athreya, leading management thinker during his talk on the topic “The China Story: Lessons for Indian Industry” at the 15th WiseViews interactive webinar series conducted by ICFAI Foundation for Higher Education, for the benefit of prospective students and working pros.
Earlier in his talk, Dr Athreya explained the strategies adopted by China and the reforms implemented by the leaders like Mao Deng since 1980. Dr. Athreya said, “China is the leader in manufacturing sector in the world which led to massive growth in terms of exports and it continued to prosper even in the tough Covid times. Skill development, achieving high quality, and productivity, are some of the areas where China is doing a great job over the years.”
“Apart from these, China is highly equipped to handle mega projects such as Three Gorges Dam, conducting of mega sport events such as Olympics, and it stood as a role model for some other countries in the world,” he added.
Chinese financial models
Dr Athreya further stated that, “India can adopt some of the financial and marketing models which China has implemented successfully. Even China has learnt some of these lessons from small countries like Singapore,” said Dr. Athreya.
“Compared to China India has excellent talent in IT field and it is resulting in huge rise in start-ups in the country. The customers all over the world are looking for simplified life and these start-ups are coming up with innovative solutions to address the needs of the customers.” Dr Athreya believes that the politicians in India have started realising that in order to retain/regain power, they must do something good to people.
Higher education in India
With regard to the higher education industry in India, Dr Athreya observed that the private universities are doing a great job in nation building. With their high standards in terms of infrastructure and the academic delivery, they are contributing to the high quality talent pool of the country.
The webinar was moderated by Prof R Prasad, Director, Academic Wing, ICFAI Group and Prof Sudhakar Rao, Director, Branding, ICFAI Group. About 250 participants including entrepreneurs, research scholars, prospective students from various parts of the country participated in the event.