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Professional Banker Magazine:
Inclusiveness and Globalization : Some Out-of-box Solutions
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Inclusive growth is not confined to financial inclusion alone. It involves infrastructure, digital, social and rural inclusiveness in a globalized financial environment. India needs inclusive growth for all the states.

 
 
 

International perception of India is positive. Investment flow is moving extremely well. But the very important issue is inclusiveness. Previously, the focus of inclusiveness was the poor. Today, inclusiveness goes beyond that to a perception of everyone feeling they are getting a share of action by upward social and economic mobility. It is important to know what is required to continue growth. In the next two to three years, we need to bring major changes in agricultural, health and education sectors and infrastructure.

There is no way India could shy away from Globalization. Globalization is the ability to source capital from anywhere in the world where it is the cheapest, to obtain technology from anywhere in the world where it is the best, to have the capacity to make products in the world where it can be done more efficiently and to sell anywhere in the world that offers the best price.

India is caught between the issues of inclusiveness and globalization which cannot be ignored. Sixty years of our young nation and more than 5,000 years of historical processes, as a republic and as geography respectively, have given us enough capacity to resolve such contradictions in harmonious manner. India is reckoned as a nation a with large number of aspiring youth, where 50% of the population is below the age of 25 years. The population of India will reach 140 crores by 2025, according to an estimate. The average median age of India's population will be around 25 years in the next to three decades. Therefore, the time is ripe for some out-of-the-box solutions for the various facets of inclusiveness in the wake of inevitable globalization. These initiatives have to be driven by the central government rather than the state governments within the next five years.

 
 
 

Professional Banker Magazine, Inclusiveness and Globalization, Inforamation technology, IT, Business Process Outsourcing, BPOs, Public-Private Partnership, PPP, Super Specialty Hospitals, Agricultural Sector, National Bank for Agriculture and Rural Development, NABARD, National Commodity Markets, Derivatives Exchange Limited, Multi Commodity Exchange of India Limited.