Bottom-of-Pyramid entrepreneurship should get due attention: Montek Singh Ahluwalia
Tuesday, December 11, 2007
If the benefits of economic growth and entrepreneurial activity have to spread to the nation at large for inclusive growth, focus on Bottom-of-Pyramid (BOP) business ideas is important, said Mr Montek Singh Ahluwalia, deputy chairman, planning commission
While delivering his keynote address at the TiE Entrepreneurial Summit in the capital on December 11, Mr Ahluwalia said, “Our growth should be inclusive and for that entrepreneurs should look at business ideas that connect with the rural masses. As CK Prahalad has pointed out, right BOP ideas make money as well.”
Optimistic that the current GDP growth rate will continue in future, Mr Ahluwalia said, ?India is on the right path. In the 11th plan period, we estimate the average annual GDP growth rate to be about 9%. We even expect it to touch 10% in the last year of the plan.? This announcement brought cheer to the large gathering of entrepreneurs gathered at this TiE summit.
Sharing details about the 11th five year plan, which will be formalized soon, Mr Ahluwalia said, “Education and Healthcare are two big priorities. On education sector we are increasing the total plan outlay from 7.8% in 10th plan to 19.4% in 11th plan. This will have a huge impact.”
The three day TiE Entrepreneurship Summit is being held in New Delhi on Dec 11-13. The summit hosts a series of addresses, panel discussions, workshops and mentoring sessions on themes covering investment trends, entrepreneurship development and building better ecosystem for entrepreneurship to thrive in India.
As is well known, The Indus Entrepreneurs (TiE) is a global not-for-profit organization focused on promoting entrepreneurship.