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Sustainable Development in India 2.0 with Reference to the BOP Perspective

Authors:
  • Srinivas University India
  • Srinivas University

Abstract and Figures

India is poised on a renewed growth path and several new initiatives are a brainchild of this vision. Programs such as Skill India, Digital India, and Make in India are certain key strategies for driving growth and sustainable socio economic development. The base of the pyramid sector is predominantly characterized by people with very low incomes; it is known that the bottom of the pyramid is the largest but poorest socio-economic group in the world. The current usage of the term ‘bottom of the pyramid’ refers to the four billion people living on less than $ 2 per day, the definition was familiarized and became widely known in 1998 through the works of C. K. Prahalad and Stuart L. Hart. The wealth and revenue generation capabilities at the base of the pyramid, especially in emerging markets have been the topic of many studies and research in recent years. The potential of the customers, who live on less than $ 2 per day, is immense. It is estimated that India accounts for close to 300 million adults and is a significant percentage of the population. If there has to be inclusive and all round growth and development it has to be aimed at empowering the poorest of the poor. This is a conceptual paper and looks at the sustained growth of India during India 2.0 period (1992 onwards) and further fuelled by PM Modi Government, aimed by the various initiatives and explores avenues to create sustained development from the BOP perspective with special focus on Economic development, Social development, Environmental protection, and Industry development.
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International Journal of Applied Engineering and Management
Letters (IJAEML), ISSN: Applied, Vol. 2, No. 2, November 2018 SRINIVAS
PUBLICATION
Keerthan Raj et al, (2018); www.srinivaspublication.com PAGE 88
Sustainable Development in India 2.0 with Reference to
the BOP Perspective
Keerthan Raj & P. S. Aithal
Srinivas Institute of Management Studies, Srinivas University, Mangalore – 575 001. INDIA.
E-Mail: 2keerthanraj@gmail.com
ABSTRACT
India is poised on a renewed growth path and several new initiatives are a brainchild of this
vision. Programs such as Skill India, Digital India, and Make in India are certain key
strategies for driving growth and sustainable socio economic development. The base of the
pyramid sector is predominantly characterized by people with very low incomes; it is known
that the bottom of the pyramid is the largest but poorest socio-economic group in the world.
The current usage of the term ‘bottom of the pyramid’ refers to the four billion people living
on less than $ 2 per day, the definition was familiarized and became widely known in 1998
through the works of C. K. Prahalad and Stuart L. Hart. The wealth and revenue generation
capabilities at the base of the pyramid, especially in emerging markets have been the topic of
many studies and research in recent years. The potential of the customers, who live on less
than $ 2 per day, is immense. It is estimated that India accounts for close to 300 million
adults and is a significant percentage of the population. If there has to be inclusive and all
round growth and development it has to be aimed at empowering the poorest of the poor.
This is a conceptual paper and looks at the sustained growth of India during India 2.0 period
(1992 onwards) and further fuelled by PM Modi Government, aimed by the various
initiatives and explores avenues to create sustained development from the BOP perspective
with special focus on Economic development, Social development, Environmental protection,
and Industry development.
Keywords: Bottom of the pyramid, Growth, Sustainable development, India 2.0, Model.
1. INTRODUCTION :
Indian economy is back on a growth path, after a roller coaster ride in 2017. The shocks of
demonetisation and GST implementation had affected India’s growth rate. There are indications that
the economy is on a rebound. There are a lot of factors contributing to the global consensus that India
would re-emerge as the fastest growing large economy in the world in 2018. World output is pegged
at 3.9 percent for 2018-19, while the projected figures for India is 7.8, which is the best acceleration
in growth. Now, until the pre 1992 days (India 1.0) Indian economy was struggling to meet its growth
needs, after the economic liberalisation, India achieved 6-7 % average GDP annually making it the
fastest growing economy. Most of the growth has been due to the initiatives such as digitization of the
economy, movement to bring the goods and services tax within one standard ambit by the
implementation of the GST being two of the predominant tools during India 2.0 period.
We would like to look at the concept of sustainable development from the perspective of the various
sectors that have contributed to its growth - the services sector which is one of the fastest growing in
the world with an annual growth rate above 9% and this is contributing to more than 50 % of the GDP
of the nation. The agricultural sector is one of the largest employers in India’s economy but its
contribution to GDP is reducing over the years. The industry sector has seen a steady share of
economic contribution. The retail market is also one of the largest in the world.
International Journal of Applied Engineering and Management
Letters (IJAEML), ISSN: Applied, Vol. 2, No. 2, November 2018 SRINIVAS
PUBLICATION
Keerthan Raj et al, (2018); www.srinivaspublication.com PAGE 89
2. BACKGROUND :
The income pyramid or the wealth pyramid is created on the basis of the wealth or income distribution
amongst the population of the country. In India, we have seen that there is significant movement of a
lot of people away from the categorization of the global poor as people living on less than $ 2 per day.
This created opportunity for many business organizations to focus their strategy to BOP segment [1-
3].
Fig. 1: India’s Wealth Pyramid
Credit Suisse latest annual Global Wealth report shows that at the bottom 92.3% of adults have wealth
less than $ 10,000. This classification seems quite high by Indian standards; the report reveals that the
average median in this rung is a mere $ 1,295 per adult. When we consider the fact that a majority of
this category of Indian households are a five member household and this is a very little to sustain and
attain a good quality of life. Wealth differences between people occur due to a variety of reasons
ranging from income earning opportunities to societal inequality and lack of skills, education etc.,
This variation in income is depicted as the wealth pyramid across the globe or of a specific country,
the layers of the wealth pyramid are quite distinctive, it has been seen that in developed countries
around 20% of the adults fall in the base of the pyramid category (figure 1). However, for a majority,
the membership in this base of the pyramid could be transient. But in Sub Saharan Africa certain
countries in South East Asia, South America, more than 90% of the adult population fall in this
category. As per the Credit Suisse Global wealth report, 92% of Indian adults have a wealth of less
than $ 10,000.
Several macro-environmental constraints have a great impact on the day-to-day survival of consumers
and firms of BOP Market. Some of the most common constraints can be defined as economic,
political, infrastructural and cultural challenges. Economic constraints encompass low gross domestic
product leading to business sustenance issues since the operating margins could be very low or
nonexistent for some periods of time, low income of the consumer class, high inflation, import price
volatility and foreign currency fluctuations [4]. Restraints in the form of price controls and price
shocks in a highly regulated market can also effect on the convenience of products and firms aptitude
to manufacture and properly distribute products [5]. Political instability bears a significant impact on
economic failure and obstructive legislation in the form of price controls can affect the firms’
performances in this market. Lack of distribution channels, logistics, and infrastructure challenges
forbid consumers to get higher quality product & brand information from the various media.
International Journal of Applied Engineering and Management
Letters (IJAEML), ISSN: Applied, Vol. 2, No. 2, November 2018 SRINIVAS
PUBLICATION
Keerthan Raj et al, (2018); www.srinivaspublication.com PAGE 90
Fig. 2: Segmentation of India’s population by household income (Source: Wharton Finmart Research
Report (2017)
As per a latest Wharton Finmart research study (figure 2), India still has 56 per cent of its population
approximately 140 million households living in absolute deprivation [6]. They eke out a living under
great constraints, poverty is multifaceted. It is not just in terms of lack of income; poverty manifests
itself in poverty of information, access, affordability, information, and opportunities. If attainment of
sustainable development goals have to be a reality the growth path has to ensure that the poorest of
the poor have been enveloped in the phase of increasing the socio economic status in a way that is
environmentally friendly and ensuring continued effective use of resources and pave the way for the
improved quality of life.
3. SUSTAINABLE DEVELOPMENT IN INDIA :
According to the International Institute for Sustainable Development (IISD), sustainable development
has been defined in many ways, and it states that: “Sustainable development is a development that
meets the needs of the present without compromising the ability of future generations to meet their
own needs”. In the light of the global challenges faced in relation to environmental, economic and
social resources sustainable development calls for a significant rethinking in the development
processes.
Sustainable development in any country is seen as a three pronged agenda that centres on building
resilient cities, reducing poverty and safeguarding the natural resources of the country. It focuses on
the concept of creating adaptability to changing circumstances and creating opportunities to maintain
and achieve socio economic and ecological well being of the country. Rapid urbanization has resulted
in an unsustainable exploitation of resources. As such poverty in developing countries has multi-
dimensional facets. A recent research study also reveals a translocation of poverty from rural to urban
areas with over one third of urban residents in developing countries living below the poverty line.
Going by research data, today’s civilization needs 1.6 planet earths now and if the same situation of
global ecological problems are not contained would need twice the size by 2030 to meet our
consumption demands of resources; global warming is expected to exceed 4°C by the turn of this
century, and this in turn would create potentially irreversible impact on the earth due to the
exponential rise in CO2 emission. Significant steps in the right direction need to be taken up with
immediate effect and this would determine the future of the world’s climate system. In order to ensure
sustainable development, it has been suggested that both supportive capacity and assimilative capacity
should be built into the system. Supportive capacity is the capacity to regenerate and assimilative
capacity is the capacity to tolerate different stresses. Human consumption of the various resources
should always be contained to be within the supporting capacity, for instance if excess fishing is
happening it should be seen that an equal amount of bio diversity is replenished into the oceans to
ensure that the ecological balance of the fish breeds is maintained as created by nature, similarly the
and changes to the natural resources and ecology should be controlled in a way that they do not go
beyond the assimilative capacity of the system. Sustainable development should manifest itself in
International Journal of Applied Engineering and Management
Letters (IJAEML), ISSN: Applied, Vol. 2, No. 2, November 2018 SRINIVAS
PUBLICATION
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marked improvement in cultural, social and economic development across various sections of the
population. The UN has ratified 17 sustainable development goals (figure 3) to be achieved by 2030.
Fig. 3: Sustainable Development Goals of UN. (Source: United Nations, Dept of Economic and
Social Affairs)
With a target set at 2030, the SDGs are aimed at making all countries self reliant and sustainable. This
basically translates to improving life all around the world. For instance, the first goal of zero poverty
requires concrete efforts of not just international and national aid agencies but of large multinationals
in their efforts to create a sustainable living as an end towards the larger goal of profitability. Though
global poverty has declined by more than half since 2000, one in ten people in developing countries
are still living with their families on less than the international poverty line of US $ 1.90 per day.
Most people living below the poverty line belong to two regions – southern Asia and sub-Saharan
Africa. As of 2016, only 45% of the world’s population was effectively covered by at least one social
protection cash benefit measure. Poverty is more than just lack of resources to ensure a sustainable
livelihood and lack of income, it includes lack of education, social exclusion as well as exclusion
from participation in decision making. When we discuss about the aspect of economic growth for
sustainable development the growth has to be inclusive so as to create a medium for provision of jobs
that are sustainable. Natural disasters are another cause of great economic risks faced by countries in
the background of global phenomena of climate change and its repercussions due to the huge
unexpected economic losses during disasters which will negatively impact poverty alleviation
measures. Social protection systems would provide the much needed support to strengthen responses
to afflicted populations and disaster management pre-emptive steps which would in turn help in
poverty alleviation measures. In 2017 alone, economic losses due to disasters were estimated at over $
300 billion.
The primary indicators of economic development in a country are standard of living, levels of
poverty, security and financial inclusion and access. The UN SDGs draws forth considerable efforts
on the part of every nation to reach closer to positive benchmarks on these parameters.
4. STRATEGY FOR SUSTAINABLE DEVELOPMENT IN INDIA :
The United Nations World Summit Outcome document describes sustainable development as an
integrated approach that comprises of three core elements (three P’s Planet, people, profit) which
inherently also translates into -
Economic development
Social development
Environmental protection
Industry development
By 2050, the world’s population will reach nine billion. Hence it is all the more essential for
developed and developing countries to act to meet the challenges of sustainable development. If the
envisioned goals are not met two planets would be needed to sustain the global population and its
International Journal of Applied Engineering and Management
Letters (IJAEML), ISSN: Applied, Vol. 2, No. 2, November 2018 SRINIVAS
PUBLICATION
Keerthan Raj et al, (2018); www.srinivaspublication.com PAGE 92
current projected estimated population in the future. Thus today, sustainability has ceased to be a
choice but a necessity for the world.
From a detailed study of secondary data, the current situation in India and the extent, usage and
availability of resources we try to define the core parameters necessary to attain sustainable
development which is more critical considering the Indian scenario and various governmental and
aided as well as non aided agencies steps towards suggested by the United Nations.
1. Economic Development:
Though India has for long focussed on economic development by meeting priorities of employment,
education, water, food, energy and poverty alleviation, in the light of adopting the SDGs renewed
strides have to be taken in the above mentioned factors while also tying it along with the need to
measure natural capital stock such as soil, fertility, forests, and fisheries. The stockpile of this needs
severe efforts at conservation while also being utilised extensively. The natural stockpile has top
remain constant in spite of continued use which if we take the example of fishing does not mean that
lesser amount of fish needs to be fished but a simple re-alignment of resource utilisation capabilities
to also keep adding on to the stock pile using technological advancements. The major thrust areas of
the SDGs are for basic infrastructure (roads, rail, and ports, power stations, water and sanitation), food
security (agriculture and rural development), climate change mitigation and adaptation, health, and
education. The total investment needed in developing countries alone for this could be about USD 3.9
trillion per year. Predominant areas where work need to be focussed as core target areas as identified
as :
(1) Food - The SDG to achieve food security to every person, nutrition and sustainable agriculture by
2030, is significant and achievable given there is an intensive use of technology to drive an increase in
agricultural productivity. It is essential to create planned efforts to gradually increase the agricultural
productivity and incomes of small and marginalized farmers who are finding it a less lucrative
occupation and moving away to other sources of income generation, also women, family farmers,
fisher folk and especially where there is a lack of secure access to land and land documents and those
possessing mall tracts of land which make it difficult to cultivate it in the most cost effective method
possible. For a small farmer who has difficulty in accessing markets and has to go through series of
middlemen and his produce fetches him very low prices due to these impediments even creating an
access to markets would be a significant measure to improve economic progress because they are
saved of the clutches of middlemen which prevents them from obtaining fair prices for their produce.
Despite rapid economic growth and gains in reducing its poverty rate, India is saddled with one of the
highest levels of hunger and malnutrition in the world. India has reduced hunger only marginally over
the past two decades. Food security is a challenge in India because of a large number of low-income
consumers. The per capita distribution gap is projected to rise from 2.4 to 2.7 kg per capita over the
next few years, which indicates that food consumption of the BOP population who are plagued with
food insecurity is projected to slip further below the consumption targets. India has a unique system of
providing wheat and rice at favourable prices through its Public Distribution System (PDS).
Subsidised food grains are provided to the qualifying groups in rural and urban areas depending on
their income status (above and below the poverty line). About 10 million persons belonging to the
severe poverty group were also beneficiaries of the subsidy given under the Antyodaya-Anna-Yojana
(AAY). In all, this food distribution system catered to about 30% of the Indian population. Food
security by definition has several factors for its applicability, one of which is food availability —
domestic food production and the capacity to import food — the other factors being access to food, as
well as the process determined for distribution of food among the different segments of the
population. Certain steps that are being adapted and need efforts are as follows -
1. Sustainable food production systems need an implementation of resilient agricultural practices that
increase productivity and production; this should also help maintain ecosystems which would
strengthen the capacity for adaptation to climate change, extreme weather, drought, flooding, and
other disasters. In India, there is a very heavy dependency on the rainfall, the entire workflow of
agriculture is built around the occurrence of monsoons and nature led and governed phenomena which
make increase of agricultural productivity extremely vulnerable to disasters and lends itself heavily to
unpredictability.
International Journal of Applied Engineering and Management
Letters (IJAEML), ISSN: Applied, Vol. 2, No. 2, November 2018 SRINIVAS
PUBLICATION
Keerthan Raj et al, (2018); www.srinivaspublication.com PAGE 93
2. Try to create collaborative and scientific efforts so that there is a genetic diversity of seeds,
cultivated plants and sound management of diversified seed and plant banks at a national, regional,
state and district levels to ensure access to fair and equitable sharing of benefits arising from the
utilization of genetic.
3. Concerted efforts have to be made to correct and prevent trade restrictions and distortions in world
agricultural markets. This obviously needs policy initiatives by the government.
4. Marginalized farmers and the poorer sections are plagued with the problems of inadequate access to
information on cropping, markets, and access to finances or land documents, several initiatives to
create access to information using public private partnerships such as with seed manufacturers,
fertilizer manufacturers and with education on using technology to retrieve such information by the
farmers is needed.
(2) Health – Health status, quality of health care, access to health care are critical parameters which
are measurable by the health index of the nation. As of now, India ranks very poorly in its health
index, drastic measures are needed to drive access and affordability into the mainstream healthcare
services where the poor population is plagued with high mortality rates, undernourishment problems.
India has embarked on a achieving a universal health coverage with Ayushmaan Bharath, several
other initiatives on financial risk protection, access to quality essential health-care services through
public private partnership programs that have been planned which would create access to safe,
effective, quality and affordable essential medicines and vaccines for all. Further, support in the
research and development of vaccines and medicines for the communicable and non-communicable
diseases that primarily affect developing countries, where again India has been plagued with the
problem of malaria, encephalitis, which are prevalent amongst the poor, this, in turn gives them lesser
chances to compete with the rest of the population. With such deep set linkages between health
outcomes with other goals, predictions about future health (of individuals and populations) can be
notoriously uncertain. Future status of healthcare in India would rest on the overall changes in its
political economy – on progress made in poverty mitigation (healthcare to the poor), in
reduction of inequalities (access to healthcare for all), in generation of employment and income
streams (this would ensure that the poor are in a position to facilitate the capacity to pay and to accept
responsibility for one's health) and in public information (to promote preventive self-care and risk
reduction through conducive lifestyles).
(3) Education and skilling the workforce – The speed and nature of globalisation, fast paced
technological changes, and innovation, constant changes in work organisation, demographic trends
across countries are forcing an increasing impetus on education and skill development. The
transformations are affecting many traditional jobs and employment relations while creating new job
opportunities in emerging economic activities. Some of these shifts risk widening existing inequalities
and marginalising some groups in the labour market. Especially in the context of creating economic
development and being the torchbearers of growth in society, these inequalities need to be addressed.
Government policies on the labour market, as well as policies affecting the markets for goods and
services, need to facilitate the required adaptation while simultaneously offering support to persons
who will be directly affected by changes so as to foster employability, productivity, innovation, and
enhanced growth and a better share of its benefits. Workforce employability is essential to turn
structural change into an opportunity for all. World estimates indicate that only about 2 percent of the
existing workforce has undergone formal skill training and about 15 per cent of the existing workforce
has marketable skills, whereas 90 percent of jobs in India are skill based and require vocational
training [4]. The Government of India, through the skill India initiative, has announced a target of
skilling 500 million individuals by 2022. But, given the current resources available in the country the
skilling capacity is projected at only 7 million people per annum, which requires substantial
involvement of public private partnership initiatives in building skilling capacity. A major step in this
direction in creating sustainability would be to build adaptability of the workforce – both workers and
jobseekers – should be encouraged through the development of transferable skills, broader vocational
profiles, and competency-based training needs to be delivered through programs that incorporate
work-based learning, including quality apprenticeships. Initiatives need to work with education and
training institutions to ensure the provision of relevant skills, including through apprenticeship places;
International Journal of Applied Engineering and Management
Letters (IJAEML), ISSN: Applied, Vol. 2, No. 2, November 2018 SRINIVAS
PUBLICATION
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provide on-the-job training to facilitate the upgrading and adaptation of skills; and adopt forms of
work organisation that make the most of existing skills. The private sector can also be a key provider
of skills training, either within the firms or by offering services to other firms and individuals.
(4) Energy - India still has to build approximately 80 percent of the physical assets –infrastructure,
commercial, residential estate – that it will require as per estimates in 2030. With the expectation of
the country’s GDP growth at a rate of 7 to 8 percent per year, India has to expand its capacity to
generate electricity to contribute to the exponential growth projections in increasing industrial and
residential demand; this would again impel a corresponding increase in greenhouse-gas (GHG)
emissions. There is an urgent need to eventually move from a fossil fuel dominant energy mix and
focus on renewable energy with reduction of carbon emission and reduced usage of fossil fuel.
(5) Employment – For our focus on the BOP perspective, for a sustained, inclusive and sustainable
economic growth, the major thrust on employment can come only with an enhanced focus on its
MSME sector and other labour intensive sectors. These are the sectors that would create ample
employment opportunities and it would require growth strategies to generate employment
opportunities for its youth. India’s MSMEs are likely to be the precursor to play a greater role than
before in its holistic development. MSMEs are contributing 12-13 percent to GDP of India. The
projected desirable contribution to India’s GDP from MSMEs is ranging from 20-25 percent. The
focus of the government on creating a suitable market access, information access and finance access
to the larger public by means of loan and subsidy schemes is a step in the right direction.
(6) Infrastructure – Infrastructure is a very critical building block of a nation sustainable
development needs to focus on ensuring access to adequate, safe and affordable housing and basic
services especially to the population right at the base of the wealth pyramid, marginalized labour,
persons employed in the unorganized sector, who are still living out of kuccha makeshift dwellings
and upgrade slums. The goal is to provide access to safe, affordable, accessible and sustainable
transport systems for all, improving road safety, building infrastructure that can sense and respond to
natural calamities. Growth and development has to be inclusive and sustainable and India has to
strengthen efforts to protect and safeguard the nation’s cultural and natural heritage. It is estimated
that there is a significant loss to property and lives due to disasters and the people at the base of the
pyramid are the most vulnerable, there has to be a focus on protecting the poor and people in
vulnerable situations.
(7) Reducing inequalities - Inequality is quite multi-faceted in nature. There is not just inequality in
income; but there is also inequality in access to and attainment of education, health status,
employment, access to food, access to water, access to social security and in general access to
opportunities and choices. These inequalities are interlinked and superseding in the same sections of
the population in most of the cases; improved access to water and sanitation may help to reduce
inequality in health status and conditions, improved educational access and attainment may help
people find better jobs and reduce the inequality in employment and incomes thereby leading to
improved socio economic conditions.
2. Environmental protection:
(1) Protection, restoration and promotion of sustainable usage of terrestrial ecosystems, conservation
and sustainable use of the oceans, seas and marine resources for sustainable development, sustainably
manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity
loss. India could lead to the proliferation of clean technology industries and leverage its engineering
and low cost manufacturing advantage. Areas of opportunity that could be looked at would be clean
coal based power plants, solar efficient building technologies, smart grids, LED, alternate power
resources enabling energy efficiency and reducing the burden on energy.
(2) Conservation of terrestrial ecosystems is plagued largely by another much overlooked aspect of
soil loss. Sustainable agriculture and food security in India face various challenges today,
inherently, India is losing 5,334 million tonnes of soil every year due to soil erosion because of
indiscriminate and excess use of fertilisers, insecticides, and pesticides over the years. About one
millimetre of top soil is being lost each year due to soil erosion and the rate of loss is 16.4
tonnes per hectare . The extent of damage to river bodies created by sand lobbies and illegal sand
mining has manifest itself in ecological and infrastructural imbalance leading to widespread natural
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disasters resulting out of non-judicious and imbalanced development. Also, the use of inorganic
fertilisers and unsustainable irrigation practices over the years resulted in deterioration of soil fertility
in large parts of the productive agricultural land. This, in turn, affects small and marginalized farmers
very badly, since they have limited access to information and technological advancements in
agricultural production. Improved agricultural practices would lead to reduced energy and water
consumption and increased availability of food and water. Agriculture consumes one of the world's
largest volumes of water resources, nonetheless, this water usage is a relatively low-value, low-
efficiency and highly subsidised water user. This has not only economic and social impacts but also
severe environmental impacts. It is estimated that water demand from agriculture will increase
tremendously and most countries will face a severe paucity of water resources, however if the goal of
food security has to be met, conservation of water resources is essential.
An interesting fact that the FAO estimates is that there are roughly a quarter million plant varieties
available for agriculture, but less than 3 percent of these are in use today. While there are more than
50,000 edible plants in the world, the global food supply depends on only 150 plant species. Of those
150, just 12 provide three-quarters of the world’s food. More than half of the world’s food energy
comes from a limited number of varieties of three “mega-crops”: rice, wheat, and maize (IDRC) [7].
In India, farming as a livelihood is becoming unattractive to people living in rural areas, particularly
smallholder farmers and small to medium farmers, due to low priority, high input cost, no control on
market, society’s perception of farming as a poor livelihood option, etc. Also, about 40 percent farmer
households in the country did not like farming because it is not profitable, risky and it lacks social
status and felt that, given a choice, they would take up some other career. There has to be efforts in
the direction of driving agriculture as an occupation which will also convert it to be a lucrative income
generation.
3. Social Development :
Community outreach, reducing inequalities amongst the poorest of the poor sections, is increasing the
gross enrolment ratio, skilling the workforce, child development services, ending hunger, achieving
food security and financial security to the vulnerable, making their lives less risky and improving the
quality of life of every section of the population. Improving the access to and status of health for all,
ensuring inclusive and equitable quality education for all and promote lifelong learning opportunities.
4. Industry Development :
In all of the discussions on sustainable development, today respective country governments alone
cannot succeed without the cooperation of industry. Be it economic measures, social measures or
environmental protection and efforts for conserving resources, forestry, and biodiversity and so on has
to involve industry participation. India has started activities such as skill development, healthcare
services, health access programs, employment generation facilities and financial initiatives need to be
addressed from both the industry perspective. Industry participation is the fourth pillar that can
provide a greater impetus to sustainable development.
Towards a sustainable development model for India – a sustainable development model has to
encompass as shown below and as put forward by the United Nations charter on sustainable
development, the critical three pillars of sustainable development, economic, social and
environmental. Within each will be the overlapping layers of socio economic criteria, economically
environmental.
International Journal of Applied Engineering and Management
Letters (IJAEML), ISSN: Applied, Vol. 2, No. 2, November 2018 SRINIVAS
PUBLICATION
Keerthan Raj et al, (2018); www.srinivaspublication.com PAGE 96
Fig 4 : Sustainable development thrust areas – Indian Perspective
Socio economic and economically efficient environmental protection measures need to be
implemented that overlay the emphasis of progress on all fronts. Sustainability could be incorporated
from every perceivable aspect as in urban planning (smart cities), industry growth, and transportation
and so on, the discussions on the BOP sector would need a focus that takes into account the poverty
alleviation, providing access and affordability and making environmentally efficient decisions.
Sustainability in providing quality services to BOP sector enhances and accelerates growth
opportunity of the country [8-10].
5. CONCLUSION :
India has an immense opportunity to increase its sustainability beyond its goals by 2030, a lot of
action plan that needs to be implemented has already set the right path for sustainable development,
when we look at this from the perspective of the BOP population, the thrust areas as identified in the
figure 4 above needs to be on the income generation and poverty reduction fronts which if addressed
would also take care of the quality of life and health benefits during India 2.0 period.
REFERENCES:
[1] Raj, Keerthan & Aithal, P.S., (2018). Literature Review of Impact of Branding on Base of the
Pyramid Markets with Special Reference to India. International Journal of Applied Engineering and
Management Letters (IJAEML), 2(1), 43- 63. (2018). DOI: http://dx.doi.org/10.5281/zenodo.1189047.
[2] Raj, Keerthan & Aithal, P.S., (2018). Generating Wealth at the Base of the Pyramid – a Study
Using ABCD Analysis Technique. International Journal of Computational Research and
Development (IJCRD), 3(1), 68-76. DOI: http://doi.org/10.5281/zenodo.1205586.
[3] Raj Keerthan & Aithal, P.S. (2018). Digitization of India – Impact on the BOP Sector.
International Journal of Management, Technology, and Social Sciences (IJMTS), 3(1), 59-74. DOI:
http://doi.org/10.5281/zenodo.1211434.
[4] Chikweche, T., & Fletcher, R. (2012). Revisiting the marketing mix at the bottom of the
pyramid(BOP): from theoretical considerations to practical realities. Journal of Consumer Marketing,
29(7), 507-520.
[5] Ndulu, B.J., Chakraborti, L., Lijane,L., Ramachandran,V., & Wolgin, J. (2007). Challenges of
African growth: Opportunities, constraints, and strategic directions. The World Bank.
http://documents.worldbank.org/curated/en/329071468010472960/Challenges-of-African-growth-
opportunities-constraints-and-strategic-directions. Referred on 28/10/2018.
International Journal of Applied Engineering and Management
Letters (IJAEML), ISSN: Applied, Vol. 2, No. 2, November 2018 SRINIVAS
PUBLICATION
Keerthan Raj et al, (2018); www.srinivaspublication.com PAGE 97
[6] https://medium.com/wharton-fintech/indias-fintech-boom-ensuring no man is left behind as the
sector races along - website accessed on 18 August, 2018.
[7] http://www.fao.org/publications/oecd-fao-agricultural outlook/2018-2027 accessed on October 17,
2018.
[8] Raj Keerthan, & Aithal, P.S. (2018). The Significance of Big Data for the Base of the Pyramid
Segment. International Journal of Applied Engineering and Management Letters (IJAEML), 2(1),72-
81. DOI: http://dx.doi.org/10.5281/zenodo.1253705.
[9] Raj Keerthan, & Aithal, P.S. (2018). The Cockroach Theory for Sustainable and Scalable
Organizational and Individual Growth. International Journal of Advanced Trends in Engineering and
Technology, 3(1), 146-149. DOI : http://doi.org/10.5281/zenodo.1237899.
[10] Raj Keerthan, & Aithal, P.S. (2018). Cockroach Theory of Organizational Sustainability and
Scalability - Detailed Study on Evidence Based on BOP Approach. IRA-International Journal of
Management & Social Sciences, 12(1), 1-11. DOI : http://doi.org/10.21013/jmss.v12.n1.p1.
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... Sustainable development is about improving the life of everyone everywhere and achieving all those things together but it is also about the details that means we want economies growing companies to get people to have decent jobs. 9 [9]We want to create new technologies but not by harming the environment. We want everyone to have access to nutritious food, affordable education for everybody not too few. ...
... However, the Spanish Flu had a much milder impact on economic activity since the modern day lockdowns were not observed in the 1918s, the measures were limited to social distancing and wearing of masks etc. due to lack of adequate date and repositories, the St. Louis Fed report opined that it was the retail businesses that suffered heavy setbacks. However, at that point in time it was a fear of the virus among the people, more than government restrictions, was a major reason for self imposed restrictions then and likely the biggest driver of loss of revenue then [2]. Another cause could be the structure of the economy a century ago. ...
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Literature Review of Impact of Branding on Base of the Pyramid Markets with Special Reference to India
  • Raj
  • P S Aithal
Raj, Keerthan & Aithal, P.S., (2018). Literature Review of Impact of Branding on Base of the Pyramid Markets with Special Reference to India. International Journal of Applied Engineering and Management Letters (IJAEML), 2(1), 43-63. (2018). DOI: http://dx.doi.org/10.5281/zenodo.1189047.
Generating Wealth at the Base of the Pyramid -a Study Using ABCD Analysis Technique
  • Raj
  • P S Aithal
Raj, Keerthan & Aithal, P.S., (2018). Generating Wealth at the Base of the Pyramid -a Study Using ABCD Analysis Technique. International Journal of Computational Research and Development (IJCRD), 3(1), 68-76. DOI: http://doi.org/10.5281/zenodo.1205586.
Challenges of African growth: Opportunities, constraints, and strategic directions
  • B J Ndulu
  • L Chakraborti
  • L Lijane
  • V Ramachandran
  • J Wolgin
Ndulu, B.J., Chakraborti, L., Lijane,L., Ramachandran,V., & Wolgin, J. (2007). Challenges of African growth: Opportunities, constraints, and strategic directions. The World Bank. http://documents.worldbank.org/curated/en/329071468010472960/Challenges-of-African-growthopportunities-constraints-and-strategic-directions. Referred on 28/10/2018.