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INCLUSIVE GROWTH BY REALIGNING SUPPLY CHAINS- INTRODUCTION
 

Inclusive growth is often described as a utopian concept. Utopia refers to an ideal community or society. The notion of inclusive growth strives to build an egalitarian society. But such an idea is usually unachievable in reality, by most nations of the world.

We are still trapped within the age-old inequalities and violent class conflicts, with no solutions in sight and yet we dream of an ideal state. Social cohesion and human dignity lie at the core of inclusive growth. Rapid pace of growth is unquestionably necessary for substantial poverty reduction, but for this growth to be sustainable in the long run, it should be broad-based across sectors, and inclusive of the large part of the country’s labor force. This definition of inclusive growth implies a direct link between the various determinants of growth.
The idea is that both the pace and pattern of growth are critical for achieving a high sustainable growth record, as well as poverty reduction. Inclusiveness encompasses equity, equality of opportunity, market access and employment transitions – is an essential ingredient of any successful growth strategy. Systematic inequality of opportunity is “toxic” as it will derail the growth process through political channels or conflict.

WHAT IS INCLUSIVE GROWTH?

The economics that disregard moral and sentimental considerations are like waxworks that,being lifelike, still lack the life of the living flesh”
~Mahatma Gandhi

Inclusive growth is about raising the pace of growth and enlarging the size of the economy, while leveling the playing field for investment and increasing productive employment opportunities. Under the absolute definition, growth is considered to be pro-poor as long as poor people benefit in absolute terms, as reflected in some agreed measure of poverty. In contrast, in the relative definition, growth is “pro-poor” if and only if the incomes of poor people grow faster than those of the population as a whole, i.e., inequality declines. For growth to be inclusive, productivity must be improved and new employment & engagement opportunities created.
Inclusive growth is typically fueled by market-driven forces of growth with the government playing a facilitating role. Policies for inclusive growth are an important component of most government strategies for sustainable growth. For instance, a country that has grown rapidly over a decade, but has not seen substantial reduction in poverty rates may need to focus specifically on the inclusiveness of its growth strategy, i.e. on the equality of opportunity for individuals and firms.
Rapid pace of growth is unquestionably necessary for substantial poverty reduction, but for this growth to be sustainable in the long run, it should be increasingly broad-based across sectors, and inclusive of large part of the country’s labor force. Policies for inclusive growth are an important component of any government strategy for sustainable growth and the framework for inclusive growth analytics are eclectic in spirit. The main instrument for a sustainable and inclusive growth is assumed to be productive employment & engagement. Employment growth generates new jobs and income for the individual - from wages in all types of firms, or from self employment, usually through owning a business in micro firms - while productivity growth has the potential to lift the wages of those employed and the returns to the self-employed.
 
Click these links to read in details:

Introduction
Inclusivity Measurement
Present Scenario
Supply Chain

Realigning Supply Chain through :

Direct Procurement from Producers/Primary Suppliers
Use of Information & Technology
Vendor Development
Open Tendering
Ancillary Development
Targeted Procurement
Unbundling of Contract

Discussion
 

 
 
 
 
 


By
Digvijay Singh, Dy. Manager (Materials Management)
Research & Development Center for Iron & Steel (RDCIS)
Steel Authority of India Ltd. (Ranchi)

 

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