JOIN USOver the years, maximising profit by any means has become the dominant business mantra of global trade which has adversely affected economy, society, livelihood, people’s social behaviour, culture and natural capital world over. Global traders in order to maximise profit from mass production lure people to mono culture trap.
People are persuaded to develop similar skill, grow similar crops, vegetables and fruit. They wear similar dress, develop same food habits and show similar social behaviour which has a negative impact on a variety of economic activities which are enshrined in cultural diversity. Politicians in order to push the maximise profit agenda, provide policy back up, recapitalise financial institutions regularly, prepare relief packages and give loan waiver in order to sustain a perverted kind of growth.
In fact, economic growth spo-ntaneously happens when the state nurtures people’s mental and physical ability. Quality education, transparent market ch-ain, dedicated research, healthy people, social harmony, discipline, freedom to choose profession, good governance and political statesmanship open the door to wealth and happiness.
Economic growth, by any me-ans is like killing the hen which lays golden eggs. Perennial poverty, backwardness, NPA in banks, corruption, malnutrition, mega scams and large scale migration, happen mainly due to this unethical business principle “maximise profit by any means.”
Over decades, Indian banks have amassed massive bad loan of about Rs 5 lakh crore due to wild speculation in stock exchange and lusty investment in risky sectors. Between 2008 and 2013 when developed nations tightened their checks and control mechanism in banks after Lehman crash, the bankers in India were busy pumping the balloons in infrastructure, steel, aviation and power sectors.
Maximise profit mantra has given endless misery to urbanites. Urban India which is supposed to be the hub of social, educational, cultural and economic development has become a money minting tool in the hands of a few players. Public transport facility is deliberately neglected to increase the sale of private vehicles. Destruction of water bodies is allowed to create water scarcity which let drinking water industries maximise profit.
Air and water pollution is allowed to increase the lungs and gastroenteritis problems which let hospital sector maximise profit. Daily, an average six people die in road accident in Hyderabad and hundreds of people get injured due to pot holes in roads, lack of foot over bridge, disappearance of foot paths, heavy traffic and errand driving.
Similarly, Indian education sector maximises profit at the cost of quality. A survey conducted by Annual Status of Education Report (ASER) found that only 58 per cent of children enrolled in Class III to V could read a class I text book and just about half of them were able to do two digit subtraction.
Large number of private schools and coaching centres maximise profit by taking advantage of the poorly equipped government schools. High capitation fees in professional colleges make majority of children face academic exclusion. As a result, India loses the much needed talent pool for economic resilience.
Realty giants
Maximise profit mantra has lured farmers to sell their fertile land to realty giants. Farmers hardly realise that subject to an interest rate risk, their income is severely eroded. Recently, agriculture scientists representing various research institutions told the joint parliamentary committee that 1.3 lakh hectares of land was being taken out of cultivation every year which will pose a serious threat to food security of the country.
Farmers are lured to grow cash crops where irrigation facility is created and face market risk master minded by big traders, hoarders and highly subsidised food exporters from developed nations. India is a treasure trove of agriculture diversity which is being lost amid maximise profit mantra, corruption and abysmal ignorance.
Many export quality aromatic rice, food grains, fruits, vegetables, edible herbs have already disappeared. India loses huge foreign currency due to the disappearance of exotic variety of crops which happens mainly due to gene corruption and unscientific agriculture practices.
While trying to maximise profit, traders produce exotic handicraft items namely silver filigree, gold jewellery, dhokra craft, metal wires and wood crafts etc in machine. Famous handloom products namely paithani, himroo, sonepuri, kanjivaram, banarasi and kashmiri carpets etc are mass produced in power loom. As a result, genuine artisans lose creative skill and artistry which always adds high value to handicrafts.
The USP of handicraft is its artistry only. Today, handicraft export from India grows at 10 per cent per annum and India still has more than 47 lakh artisans to meet the growing global demand for biodegradable handicraft items. In the area of purely handmade items, India has the skill to beat the Chinese handicraft and handloom factories which typecast many Indian items. Handcrafted items made by genuine artisans always stand out from the machine made items and command a premium price in exclusive global bazaars.
It is high time to knit together sound development vision, good governance, quality research, healthy credit cycle, a transparent supply chain, dedicated grass root level reporting, intellectual capital, political will and nation-specific policies for inclusive growth and prosperity.