Just 10 years ago , western executives returning from trips to India & China would say : I think the one to watch is India, not China.
They couldn’t have been more wrong . China has routed India. The Primary reason is that Indian Leaders are not transforming their business culture to one driven by meritocracy, where people feel fulfilled.
My Recommendation, Indian leaders should change all their metrics. They should stop placing emphasis on GDP, interest rates & inaccurate unemployment data. They should move to new metrics of behaviourial economics – to states of mind versus simple transaction data. These metrics are:
- percentage of good jobs
- percentage of engaged & actively disengaged workers
- perceptions of government & business corruption
- belief that working hard will get you ahead
- perception that India is a good place to start a business
- percentage of those saying they are dissatisfied with their personal freedom
- percentage of those who rate their lives so poorly they are considered suffering.
Ask about every decision taken, what does this have to do with driving the above demands?