Sunday, June 17, 2007

How to Improve Madurai Economy?

Here are three ideal steps of improving Madurai Economy:

(i) Accumulation:
For any growing economy or any starting up economy, it is important to acumulate. When I say acumulation, there are two parts to it. Accumulation of physical resources like equipment, structures/infrastructure, machinery etc., is one part. Another part is accumulation of education, training and human resources. Both of these types of accumulation should happen - accumulation of physical resources and human resources.

(ii) Productivity:
Next to accumulation of physical and human resources, all these resources has to work together and achieve as much as possible productivity. Effectiveness and Efficiency of running these resources is very important for the productivity. Based on the output of the productivity, the madurai economy will improve.

(iii) Innovation:
While enough productivity is happenning, lot of innovation has to happen. This innovation will produce lot of revenue and create new markets. In addition new markets will create new businesses.

In addition to the above, if we produce everything we want, and do not import many things from outside, we will be well and good. Reduce Imports and Increase Exports!!

As I have always said - I am not just crazy about Madurai! All I think is: Think Globally and Act Locally!! Whatever I think about, even if it is global, I would like to implement in Madurai first. The success in Madurai can be replicated everywhere in the country and in turn in the whole world.

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