I have been travelling through India, launching my new book on Sustainable Finance with a focus on the huge wealth of Indian Dharmic wisdom. Sadly this is not in the business textbooks and ought to be given our significant global challenges. Furthermore, this method and content of financial education can be healing and transformational for India and the world, especially since India is about to lead the G20 nations. It is inspiring to see that people in India are encouraged through billboards to take pride in this new global leadership role. Vasudhaiva Kutumbakam - the whole world is my family - is the new slogan. It can be India's unique gift to the world - a truly organic and caring approach to finance.
India has a huge ocean of business schools - nearly 4000. There is a big demand for business education and training and quality jobs. Indian secondary schools produce students with technical ability but NOT critical thinking. Even creativity, which is so central to Indian culture, is off the school curriculum. Hence high school graduates are not well qualified or prepared for social science education.
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Indian students who go into social sciences should have six months of critical thinking training when they start University. They should be taken on field trips to witness society's diversity, the challenges people face, and the opportunities they create, sometimes from nothing. Many young people are kind and caring but are not allowed to apply business solutions for social upliftment. The field trips will really get them motivated to study and help build a vibrant new India.
Creativity and innovation are popular buzzwords. They are hyped in the get-rich-quick business mentality. Patient organic growth is what India needs. Unfortunately, the education system is factory-based and impersonal. We need to develop new ways of changing this and create vibrant, motivated graduates who respect their own culture and history and are willing to go back into rural areas and develop them and not be easily blinded by modernity and technology. The soul of India can be educated towards sustainable development. It's time to make a determined start.
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Professor Atul K. Shah [@atulkshah] teaches and writes about Indian wisdom on business, culture and community at various UK universities and is a renowned international author, speaker and broadcaster.