India is a country of contradictions. We have the largest population but a labour force participation rate of 50 per cent. We are the fifth biggest economy but rank 143rd in per capita income.
While we are doing a lot of things right toward building a developed nation, there are gaps that need closer analysis and action. And what could be better than looking at the country’s successes, trials and errors, and learnings from its 77 years of journey since Independence? These years have seen large-scale transformations such as the Green Revolution, the evolution and democratisation growth of microfinance and the White Revolution, each one of which ushered in millions of livelihood opportunities for the masses.
The increase in per capita and median income helped to reduce maternal and child mortality, reduce the incidence of preventable diseases, and improve life expectancy and several aspects of human development. Since the start of the millennium, India has electrified 99 per cent of households, built digital infrastructure and goods for population-scale access, unique digital identity, banking and direct benefit transfers, and made big strides in reducing poverty.
Achieving livelihood and economic inclusion for all, especially in a nation where millions remain vulnerable and underserved, requires prioritisation and tackling the problem in a more holistic manner. This means that we need to solve for income creation and enrichment across rural and urban livelihoods, nano and micro-entrepreneurship, upskilling and reskilling, capital influx, technology, inclusion, empowering women, farmers, youth, and other areas of importance.
This also means focusing on factors that would normally evade an individual’s day-to-day needs but are equally important and potentially disruptive in the long run like climate resilience, AI and automation, etc.
Thus, by critically reflecting on our experiences – what is working and what hasn’t worked, a country can avoid the pitfalls of the past while identifying pathways to scale its achievements, crafting a future that honours its legacy and propels it toward becoming ‘Viksit’ and inclusive at 100!
One aspect that comes out as a key to these achievements and solving problems is the necessity of a coordinated effort between governments, markets and civil society. While policy initiatives by the government try to create a scaffolding for such cooperation, true solutions emerge from a convening of minds from all sides on an equal footing.
This is where convening platforms like charcha 2024 play an essential and necessary role in building agency and facilitating acceleration in India’s development journey. It is a space where a government official can find common ground with a grassroots implementation agency, where a tech-first social entrepreneur will be inspired by a traditional artisan’s resilience, and where academic theories can be tested against ground realities.
These convenings enable knowledge-sharing to spotlight learning curves between various players aiming for the same goals and foster networks, thereby inspiring and sparking collaborative efforts. ‘charcha’ is more than just about tough and contextual conversations – it is the launchpad for alliances and on-ground action.
Urban and rural livelihoods
Addressing India’s livelihood challenges requires bridging the gap between rural and urban realities. Farming is the largest source of livelihood for the country. There is an imperative need to adopt best agricultural practices, provide affordable financial access and market linkages, and leverage technology to improve crop predictability to enhance farmer productivity and ensure the durability of income. There is also a growing need to diversify rural income sources and improve access to markets, credit, and technology.
Meanwhile, urban centres grapple with forced migration leading to unemployment and under-employment and the demand for new skills in a rapidly evolving economy. This would require fostering solo, nano and micro-entrepreneurship, enhancing financial and digital literacy skills, direct cash transfers, and leveraging technology to empower both rural and urban communities and create a balanced, resilient economy.
India’s other half: Empowering women
While half of India’s population is female, the female labour force participation rate (LFPR) stands at a mere 37 per cent. Bridging this gap requires a multi-pronged approach. Providing digital pathways for young women is crucial, as access to technology increases educational and employment opportunities, with digital skills projected to be necessary for 90 per cent of jobs in the next decade.
Increasing the female LFPR is more than job creation and jobs. It’s also about transforming workplaces through policies that support flexible work, equity in income, ease of mobility, and safe working environments.
Development for an inclusive economy
Inclusion, both social and economic, is integral to building a nation that leaves no Indian behind. Ensuring that all individuals, from each cross-section of society and varied abilities, can actively participate in economic growth is essential for true inclusivity.
Economic inclusion programmes such as Cash-Plus-Care or the Graduation Approach provide a “big push” and intense “hand-holding” to the most marginalised and vulnerable households. They increase the capacity, confidence and durability of households to take advantage of economic opportunities and to help them thrive.
Another segment that needs increased spotlighting for greater inclusion is People with Disabilities (PWD), be it physical, mental or otherwise, who when enabled and empowered, will make meaningful contributions to India’s growth and overall development.
Tech4Good
Leveraging technology for social good is crucial in shaping India’s future. With AI and digital tools offering immense potential to tackle societal challenges—such as improving access to financial and healthcare to the population living in rural areas and enhancing the quality of education for over 250 million students—their implementation must be inclusive and affordable. Currently, only about 35 per cent of rural households have internet access, highlighting the urgent need for digital inclusion. By focusing on AI for societal transformation and AI as a force for good, we can create solutions that address the unique needs of marginalised communities, driving meaningful change.
Capital and philanthropy
It’s essential to channel capital purposefully and patiently, directing investments toward projects that deliver impact at scale, addressing critical gaps and complex problems. Navigating the fundraising landscape effectively involves leveraging collaborative efforts between private investors, philanthropic organisations, and government entities, thereby building a robust ecosystem that supports sustainable growth.
To summarise, the path to inclusive prosperity is foreseeable and achievable but not easy. It will require us to collaboratively navigate complex, layered issues, challenge deeply held beliefs, and take calculated risks. But the potential reward – a poverty-free and inclusive India where economic growth ensures that every Indian can live a life out of poverty and with dignity, is worth the effort.
At charcha ’24, with 40+ sessions spanning across 12 immersive, livelihood-intersecting themes, supported by 20+ sector-leading co-hosts and with the participation of thought-leading, changing-making speakers across governments, markets and civil society, we are convening to collaborate toward the shared goal of Viksit and Inclusive Bharat by 2047.
Live programming at charcha 2024 is in partnership with co-hosts, who will amplify narratives within specific thematic areas with the intent of building agency and scale for accelerated development. Work in rural livelihoods will be covered by co-hosts such as the Bill & Melinda Gates Foundation, Oak Foundation, The Bridgespan Group, Tata Steel Foundation, TechnoServe and Teamwork Arts.
Urban livelihoods from a workplace, youth and upskilling perspective will be discussed in sessions co-hosted by LinkedIn, Generation India and Lend a Hand India. Empowering India’s women in the workforce will be spoken across sessions co-hosted by Mphasis, British Asian Trust, LinkedIn and Teamwork Arts.
Technology as a force for societal transformation and good will be conversations co-hosted by Google, Purpose and META, while dialogues around sustainability, inclusivity and equity will be co-hosted by HSBC, State Street, H&M Foundation, ATE Chandra Foundation, Tiny Miracles and Teamwork Arts. Importantly, ecosystem enablers of the dev sector, i.e. talent (India Leaders for Social Sector), capital (META), policy (Samagra) and impact (NuSocia and Generation India), will be important conversations at charcha 2024.
To know more, visit charcha 2024.
Jerold Pereira is Managing Director, The/Nudge Forum. Views are personal. ThePrint is a media partner for charcha, organised by The/Nudge Institute.
The solution exists since the time of Adam Smith. It is called free-market economics.