Harvard economist Michael E Porter today said that although India has made significant economic progress during the last few years, removing poverty is a challenge as building prosperity is a marathon and may take decades. “The country is making good progress on macroeconomic policy front despite challenging global context…But building prosperity is a marathon. It takes decades,” Porter said while addressing India’s National Competitiveness Forum here.
Observing that India has a special place in world, he said, “This is the country that has challenge of moving millions of people out of poverty”. Apparently referring to jobless growth in India in last few years, the eminent economist and author said that India has a big issue related to workforce participation.
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“If people can’t participate in workforce, then system is not working for them,” he said. Porter also pointed out that India is not going to succeed unless government creates business friendly environment.
“Businesses can create wealth. Government can’t create wealth…We can’t antagonise business and create prosperity,” he said. Porter, who is in India to deliver the third lecture of Niti Aayog’s ‘Transforming India’ series is an authority on the principles of sustainable competitive advantage.
One of the world’s foremost thinkers on management and competitiveness, he is currently the Bishop William Lawrence University Professor at the Harvard University. Porter’s work and thinking for the past 30 years has revolved around what actually happens on-ground – for business leaders, healthcare practitioners and patients, governments and citizens, and social organisations.