'India, China must invest in improving human capital'

NEW DELHI: Stressing that India and China are being driven by knowledge-based growth in the new global economy, GBN Monitor Group chairman Peter Schwartz on Friday said India would need to look at balanced growth encompassing not only those in the forefront of knowledge era, but even the agrarian population.

“Growth is a result of knowledge. Most of Asia has already got this message. India and China are not driven by growth based on resources but on intelligent people. The challenge is to raise knowledge and skills of the entire population,” Mr Schwartz said at a session on ‘Megatrends of the next decade’ organised by The All India Management Association (AIMA).

Stating that growth in global trade, increasing operational integration, and strong telecom links were amongst the global megatrends accelerating growth, Mr Schwartz lauded India for leading the world in terms of skill sets and higher education.

“Human capital is most critical. India is leading in education but its own gap is increasing. The challenge now is to all round development in the quality of workforce,” he said adding that India would also have to address issues including the widening income gap and mass inequality. During the session, Dr Hong Chen, Chairperson and CEO, The Hina Group, called for increased co-operation between India and China to harness the future growth opportunities.

“In order to capitalise on emerging merger-and-acquisition trends, we have positioned the Hina Group, to help companies looking for China opportunities and Chinese firms with global aspirations. In fact India and China have complimentary strengths today, and can tap oppotunities jointly,” Dr Chen said.