30 July, 2021

Everything On It

Rural India needs another Green Revolution, leveraged strongly by infotech

Everything On It
Inequality may rapidly be replacing poverty as the most pressing issue for many high growth economies like ours. Although our economy has grown well over the past two decades, wealth distribution is very uneven with nearly 300 million Indians earning less than the poverty threshold of $0.40/day.

The key to reducing inequality is not charity or philanthropy but innovation and entrepreneurship. Poverty and inequity are often worst in rural India; we desperately need another Green Revolution that will drive the next wave of agricultural productivity growth. The biggest hope here may be the rural business initiatives of companies like Reliance Industries, Bharti Airtel or ITC, investing billions of dollars to create an efficient agricultural supply chain, bypassing scores of middlemen. Or the rural banking initiatives of the likes of SBI, Citibank and ICICI that will deliver affordable credit and insurance to half a billion people, helping them break a historic cycle of poverty.

Similarly, the biggest engine for job creation is...

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