"Indian economy was at a high pace till eighteenth century. Every educational institution must prepare students for the development of the economy and country, not for the marks and results," said S. Gurumurthy, Chartered Accountant, Corporate Advisor and Journalist.
He was speaking at a lecture under the banner “Paarivendhar Lecture Series” on the topic “Need for India – Centric Development Model” at SRM Institute of Science and Technology (SRMIST).
He recognized that there is no one size fit – all model and that each country must choose the model which suits its characteristics. He spoke about the success stories of entrepreneurship ventures in small districts in India like Karur, Tirupur, Namakkal, Jalandhar, Morvi, Ludhiana. He also insisted that villages should be treated as a business hub, since villages are the major contributors to the GDP.
He quoted the example of ZOHO Corporation which is very successful in Software and Product Development. He also insisted on the concept of original thought by quoting the example of Yugoslavia. Also he added how India came out of an economic crisis during 1998 by issuing NRI development bonds. He concluded by advising the students of SRM School of Management to tour the industrial clusters at least for fifteen days in a year to gain the first hand knowledge about business and entrepreneurship.