Role of Industrial Sector and Society for Sustainability and Innovation In Global and Indian Economy

Journal Name: 
Journal of Banking, Information Technology & Management
Vol. 13 - No. 2
Author Name Designation Organization
Elana Bhandari

Milton Friedman's views were profits are chief purpose of any business. In today's globalized era business brings innovation with sustainability in society as well as in market place. This helps in facilitating growth, innovation, employment, investment etc. Small change in perception and attitude can makebig difference in Indian and World Economy. This paper deals with the following issues.
Industrial sector is the second most important sector in Indian Economy. All economic theories revolve directly or indirectly around Industry only. This shows importance of this sector. Moreover, Indiatargeting double digit growth rate which is not possible, without this sector. As we are aware that Industrial environment of India is facing many problems if we need to compare it with globalised environment. For the same reason we need to mingle Innovation with sustainable development. Sustainability is which can go on for a long period of time without disturbing social, ethnic and climatic change.
This is an opportunity for Indian Economy to grow with sustainability. This can increase per capita income, real GDP will increase, Qualitative and skilled manpower as per requirement of Industrial Sector and many more.
This is an opportunity for Indian Economy to grow with sustainability. Society can give better manpower and customers for a healthy Industrial environment. This can also give innovation in Industrial sector for over all development of economy. We Indians need to grow together proving demographic dividend before the world.