To bring about a gentle
perfection in economic mechanisms and an attempt to exterminate monetary
uncertainties , so as to enhance productivity in the sectors of technology,
trading and business; is what majority of African and South Asian countries
instantaneously require.
Exploring feasible localities and strong sectors for investment are the domains
to be relied upon primarily. An endeavor directed towards the betterment of the
economic sector, in general and the enhancement of national income with special
reference to the positive trends in Gross Domestic Product (GDP) and Gross
National Product (GNP), in particular, is the need of the hour.
African and South Asian economies are counted amongst the retrograded ones in
the world, not because of lack of planning ,but solely because of a team such
economies hold, that is full of untrained staff.
Somewhat true it is that “WHAT WE DESIRE, WE DON’T DESERVE & WHAT WE DO NOT
DESIRE, IT IS WHAT WE ONLY DESERVE”. The problematic issues such as inflation,
poverty, financial crisis, market-decline, and shrinking labor force, are meant
to be dealt on a very serious note and at firsthand.
For the production of goods and services, we take the use of four extremely
essential factors i.e. land, labor, capital and organization. South Asian and
African economies are tremendously proficient in the initial three factors
namely land, labor and capital but, quite unfortunate it is that THE SOUTH
ASIANS & THE AFRICANS, lack serious amounts of skills in management and
entrepreneurship, which is totally pertinent to the fourth factor of production
( organization ).
Now, the sole aim and objective of a country must be to take productive steps in
order to enhance country’s per-capita income. In this respect, the governments
of South Asian and African countries particularly Bangladesh, Afghanistan,
Kenya, Somalia, Sudan, India, Eritrea, Nepal, Niger, Nigeria, Uganda and
Pakistan; can actively participate in their investment focused at human capital.
In my opinion, a large number of economic problems can be solved by equating the
forces of demand and supply. This is because, nearly every South Asian and
African economy confronts the shortage of food essentials and the
intensification of the general price level, almost twice, each fiscal year and
such a tendency sometimes, stagnates the economy and decelerates the rate of
productivity on a larger scale.
Efficacious breakthroughs in the development of property, healthcare,
infrastructure, in addition to financial services, telecommunication and
technology, growth in retail sales and promotion of quality and credibility,
will surely pave the way for a stronger, effective and strengthened South Asian
and African Economy.