Speech by the ITC Chairman, Shri Y.C. Deveshwar, at the 98th Annual General Meeting on July 24, 2009
Some excerpts :
A UNDP Report prepared a few years ago, pointed out that 10% of the richest adults in the world own as much as 85% of the world’s household wealth, while the bottom 50% have to contend with only 1% of household wealth.
It now takes the Earth one year and four months to regenerate resources used in a single year. And if this continues apace, the equivalent of two Earths will be needed to support humanity’s resource requirements by mid 2030s. The current global economic model is therefore clearly unsustainable.
…..a competitive low carbon strategy of growth will also have to generate incremental employment and livelihoods. Therefore, for Indian business, this new paradigm of competitiveness will not only require the creation of “green businesses”, but also the generation of “green livelihoods”.
Innovation, Incentivisation and Inclusiveness hold the key to crafting this new dimension of competitiveness.