Noted Harvard Business School professor of Indian origin, Tarun Khanna had dealt with the subject of Indian Entrepreneurs and their contribution to the development of India in general. In this video , he compares the basic difference between Indian and Chinese society and how entrepreneurship is still growing amidst two very different socio-politico and economic environment. He argues that both India and China are chasing same destination of growth, prosperity and well being of its billions of population , but the road to this destination is different for both India and China.
He points out how in India, the individual rights of every single citizen is considered supreme , sometimes at the cost of the overall good of the society, while in China, its the greater good of the society, which takes precedence over the individuals right. In essence, India is more democratic society than China which believes in upholding the rights of its citizens at all costs.
In India, its the vibrant and dynamic private enterprise which is fuelling the country's growth in spite of all the bottlenecks, while, in China, its the government which is the real agent bringing about change and growth.
While India is hailed as the largest democracy in the world, it is far from being the best functioning democracy like United States. While in US, its the rich and affluent who come out and vote in large numbers, in India , its the opposite. Chine on the other hand, though is a communist nation, has shown greater tolerance towards free enterprise and this is something which might make China the next superpower of the World.
What Would I Prefer? I would like to see India continue to have democratic set up which makes the government accountable to the public, but at the same time, would want government to take a leaf out of Chinese government's book. They must take greater interest in social sectors like health , education etc. Infrastructure has always been a bane to India's growth prospects and as such government must place greater emphasis on infrastructure delivery in the country.
There is crying need for reforms in the Indian bureaucracy , Indian Judicial system, Police reforms etc . All this will help grow the spirit of enterprise among the millions of Indians which holds the key to India making it into the league of developed nations by 2020.