Prebook Regional Growth and Disparity

Question: Discuss about thePrebookfor Regional Growth and Disparity. Answer: Introduction Indias growth is projected remain strong with around 7.5% growth rate. Private consumption is also expected to be increased as a result of increase in high earning wages and also the current declining inflation rate. Investment is also anticipated to gradually start rising due to the fading away of excess capacities. The maturing of the infrastructure projects and the deleveraging of banks and corporations is also going to be a major booster to Indias economy. However, the investors and consumers are expected to be affected by the new cuts in policy rates. India is also expected to do some improvements in its productivity so as to catch up with other higher-income nations around the world. Therefore, the government is going to put more efforts in the major economic sectors like agriculture, manufacturing, labor and also regulation of the market. The government is also aiming to improve the quality of education and the health systems by enacting different reforms in these sectors. India, being the largest democratic country covers 2.4% of the worlds landmass and 16% of the worlds population in it. Indias population increases by 1.6% every year. According to the united nation fund on population activities, worlds population increases by 78% per year and it contributes about one-fifth of its growth. India now has a 1.2billion population comprising 587million females and 624million males according to the 2011 census conducted in India that is an increase of 181million people since the 2001 census nearly equivalent to Brazils total population. Population Growth and Economic Development in India. While approaching 17th century, human population grew at a snails in the initial stages of the human history and also pre-history with advancement in agriculture, science and industry. Acceleration in population was observed during this century. In the year 1800, it took more than a million years for mankind to reach the first billion populations; the second billion was added by the year 1900 and 3.7billion in the twentieth century(Bhattacharya Sakthivel, 2004). Presently, the world population is estimated at 6.8billion with an increase of one million every four days. Population growth however has consequences on economic development that has attracted attention on economist ever since wealth of Nations; the annual labor of every nation is the fund that originally supplies it with all necessary and conveniences of life written by Adams Smith. Only Malthus and Ricardo who raised an alarm on how the economy was being affected by population growth. However their fears were proven to be baseless because in Western Europe, rapid population growth resulted to rapid industrialization in its continent. Sometimes its said that population growth helps by providing and expanding market goods in an economic development zone(Chandrasekhar, 2010). Even though its incorrect to say that over-population retards economic development all economic development efforts under fast growing population turn out to be writing on sand with waves of population growth washing away all that we have written its also true that population growth hampers development in many ways in that you find that in under developed countries like India, most of its population is in rural areas where its people involve fully in agriculture as there source of survival. Population pressure on the land rises which leads to distribution of man ratio due to inelastic land supply. This further adds to the lack of employment and reduction in per capital production in that wages drop with an increase in labor that reduces the propensity to invest and save(Coale Hoover, 2015). Economy is reduced to a subsidence level where no land improvements cannot be done rather to concentrate in feeding the entire population even when experiencing shortages in food supplies. Growth of population retards capital formation. Children are also to be fed with the capital received from the work they do which means that there is more expenditure on consumption and consequently low savings. Losing investments, savings and income compels people to use low technology and even no mechanizations at all due to the cost incurred in purchasing the machines(Suomi, Basaure, Hammainen, 2013). Rapid increase in population forces the economy into most cases of under-employment and unemployment cases. With any increase in population workers proportion to a population rise but its impossible to expand jobs with an absence in complementary resources that may be compulsory for a particular purpose. Social Changes in India. Indian culture, one of the richest and oldest cultures, poses a serious threat due to the strong base of western culture that is slowly wiping out the Indian culture and traditions. Its slowly heading to other parts in India after establishing itself in Metros. Social Medias and new communication networks have lured the youths into developing unhealthy relationships with people they dont even know and cannot distinguish if they are young or elderly(Jeuland, Harshadeep, Escurra, Blackmore, Sadof, 2013). Through this means, the true merit of westernization in culture can be foreseen in that anybody interested in learning a certain culture can now do it at his or her comfort without any restrictions. This can also lead to culture disintegration now that technology has taken over the youths minds and corroded their sense when it comes to dealing with issues(Desai, Dubey, Joshi, Sen, Shariff, Vanneman, 2010). New technology has many potential for youth in that it allows them communicate to anybody and everyone that they may be interested in speaking to. According to most studies, 250 to 300million individuals belonging to the middle class and they can all get access to the social network and enjoy themselves in the process. In many years the middle class population has been an occurrence through decades ailing to the IT revolution in the country(Venkatesh, Skykes, Venkatraman, 2014). The rise in the Indian middle class is based on one key factor named education. Medicine and engineering, the two prime educational opportunities have become too expensive for the ordinary man to even dream of it. Education being that it is ticket to better employment opportunities and better income that helps one to uplift his family. Most families are willing to spend more on their childrens education being that it is now the focus point of the middle class society. By 2020, most of the west and south of the Indian country will be middle class but the backward states like Orissa, Uttar Pradesh and Bihar wont get to middle class before 2040(Hubacek, Guan, Barua, 2007). Vigorous migration helps to create pressure on the backward states for them to catch up. Governments Attitude Towards Sustainable Growth in India The Indian government is doing everything possible to make the Indian economy to grow rapidly. There are laws and regulations that have been put in place to govern the business environment. This has made India to be an attractive place for different multi-national companies that wants to invest in India(Venkatesh, Skykes, Venkatraman, 2014). The government is also focusing on eradicating literacy hence empowering its citizens with more advanced skills to enable them to actively build the Indian economy. Environmental Change Predictions in India According to recent predictions, Indias climate poses an additional pressure on socioeconomic and ecological systems that are said to be already facing very tremendous stress especially from the growing economic development, urbanization and industrialization. Science seeks to clearly forecast the trends that climate change will have on India so as to enable the government to come with sound policies for the Indian economy. Research about Indias climate seeks to know the degree of effect that different factors may have(Tiwari Joshi, 2012). Some of these factors include; population and economic growth, technological advances just to name but a few. Sustainability Sustainability strategies can be defined as efforts or plans by a particular company or organization that are put in place for it to remain relevant in the market. Some of the strategies that Iball company in India should develop include: improvement of its systems, innovation, corporate governance and the development of its employees. Each of these has a potential of making Iball to improve its operations in the India market for and hence form a good foundation for long-term strategy, mid-way strategy and minimal strategy for its market. It is important for Iball Company to know that selecting the right strategy strongly depends on the above items. Some of the strategies Iball should put in place are as follows: Shared Responsibility It takes responsibility by ensuring that products are managed safely throughout their life cycle of regulation, manufacture, use, distribution, recycle, and supply. The product manufacturer does not have to worry over every factor of the product lifecycle no matter how perfect the product may be. Each one of us a part to play and make sure you do what is needed(Wilson Purushothaman, 2006). Lifecycle Thinking This aims at working to reduce significantly or prevent and increase sustainability throughout the product lifecycle. This could range from regulations to withdrawing the product from the market to simple communications to redesign the product in question. A product take-back program may be an effective and efficient component of product stewardship in some cases, as might substitute safer components(Tiwari Joshi, 2012). Knowledge This is the most important key factor because it requires you to understand health and safety risks of your action in relation to the materials used and exposures that may come as a result of your action and also you should be able to understand the potential environment too. In addition, make an effort to know how other product lifecycle impact risk on other factors. It is Iballs responsibility to develop knowledge of the products that will define the product in question(Lee Mason, 2011). Stakeholders Stakeholders influencing success of a product, employees, stockholders, and neighbor, government, peers, and suppliers concerns must be understood .get to know what is it youll do to assure the stakeholders that the product is being managed properly and that it is in safe hands. Increase Sales from its Current Customers Use the current customers that it already has instead of putting 90% of its effort on people who are not aware or doesnt show any interest in their business rather Iball should focus on the remaining 10% of its customers who make regular purchases on daily basis for they are its champions in spite of its increasing revenue(Maddison, 2007). The company should consider finding different types of loyalty programs, customer recognition, discounts for repeated purchases and new product offering to existing customers first. Value Every Relationship Anyone you meet is important and maybe he or she might become your customer, advocate, mentor or even funder at some point. There is no harm in trying this kind of ideas at different angles with different people even though it doesnt mean all relationships will end up with those ideal results. This journey helps one learn about your business and you as an individual doing that business. Making Time for Long-Term Planning Ideally we are always busy and sometimes, making time is not an easy thing to do by sitting down and thinking about the future. But we can always strategize by planning properly whether it is a year or planning for the next five years it is important that you should have a road map to understand where you are headed and how youll get there. This doesnt mean you have to take that route but youll be surprises at how much you can achieve in a year if you send out your goals(Munsi Rosenzweig, 2009). Try making time not only in your business but also to work for your business. Conclusion. Whenever a person plans on venturing into a business it means that he or she has thought of it properly and is ready and willing to start it with full dedication. In the that line of business you should be ready for anything that may come your way but dealing with those issues one need patience and I mean a lot of patience and faith that it will work. References Bhattacharya, B. B., Sakthivel, S. (2004). Regional growth and disparity in India: Comparison of pre-and post-reform decades.Economic and Political Weekly, 1071-1077. Chandrasekhar, S. (2010).Infant mortality, population growth and family planning in India(Vol. 19). Routledge. Coale, A. J., Hoover, E. M. (2015).Population growth and economic development. Princeton University Press. Desai, S. B., Dubey, A., Joshi, B. L., Sen, M., Shariff, A., Vanneman, R. (2010).Human development in India(pp. 12-12). New Delhi: Oxford University Press. 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