This year’s Deepawali festive season is going to be more vibrant than of last year. Though the threat of Covid-19 is not entirely over, the restrictions on collective celebratory mood are lesser. There is considerable recovery on the health front. After administering 100 crore vaccines, now the focus is on economic revival and livelihood opportunities. A post-Covid model that would ensure sustainable economic development is a concern for experts and policy-makers worldwide. When capitalism and communism have failed in providing the equitable and inclusive path of progress for all, we need to revisit the Bharatiya models that have been functional and delivering for ages.
The successful models that have been functional on the ground since time immemorial are essentially Swadeshi in nature. Despite constraints, the traditional Bharatiya industry has weathered many a storm, including the pandemic. Be it the hosiery industry of Tirupur, handloom industry of Chanderi, handicraft industry of Moradabad, knitwear industry of Ludhiana, the diamond industry of Saurashtra, agro-industries of Nashik, most of them have managed to stay afloat despite crushing economic conditions. Clusters that have been in existence for centuries created brands at the national and international levels. These clusters represent our national socio-economic heritage and community models of wealth creation.
These indigenous wealth creators have the potential of becoming engines of Bharat’s growth, once again. Community-based skills and patenting linked to geographical locations and cultural traditions make these products unique and scalable. Optimum utilisation of skills and resources at the local level make these models sustainable and collective.
Along with Vocal for Local and Aatmanirbhar Bharat initiatives, these community practices of growth can provide deep insights into the integral approach. If lessons from these conventional clusters are clubbed with contemporary technological advancements, they can offer a new Bharatiya model for the entire world. In a few cases, e-marketing techniques have successfully integrated with the traditional methods of production. The covid-19 situation was turned into an opportunity by many through technological integration. This fusion can provide essential pointers for the future growth models.
The challenges faced by small and medium business activities and their financial, technological and institutional requirements also need a continuous assessment.
Hence, while worshipping Goddess Lakshmi on the occasion of Deepawali, Organiser decided to present the fundamental values and thinking that shaped these models of auspicious prosperity. The Dharmic nature of wealth creation is discussed, along with some representative inspirational stories. The idea is to present some individuals and enterprises who have adopted new business models and strategies while keeping the spirit of auspicious prosperity alive. These stories, though just representational, are indicative enough to draw certain lessons.
When concerted efforts to demean and destroy Bharatiya festivals are going on, our civilisational responsibility is to add a new meaning to our celebrations. Besides the religiosity, the deep-rooted geo-cultural sense behind this biggest harvest festival needs to be revived. Employability and prosperity through a sustainable mechanism can be a significant traction point for our younger generation. I hope these stories of young and innovative entrepreneurs and traditional cluster models inspire many more to pursue the path of generating auspicious wealth. Happy Deepawali!