Letters to THE EDITOR: Assam needs an IIM

Assam needs an IIM

Recently, the National Institute of Industrial Engineering (NITIE) in Mumbai was elevated to the status of the Indian Institute of Management (IIM). So, the state of Maharashtra ended up getting its second IIM, the first one already present at Nagpur. The craze for government jobs among the youth of Assam has been insurmountable since time immemorial. But, with changing times, we need to understand that it’s the entrepreneurs who are the ‘growth engines’ in an economy. Entrepreneurs also help generate new jobs, thereby helping an economy flourish.

Over several decades, Assam has been said to be a region bestowed with natural resources like coal, petroleum, limestone, and natural gas. It is also the largest producer of crude oil in India. Assam is home to unique and exotic wildlife, including the rare one-horned rhinoceros. With its plush national parks and wildlife sanctuaries, the state is truly an ideal destination for a wildlife tour in India. But in order to utilize the rich amount of resources present in the region, there needs to be decent business acumen and an entrepreneurial mindset present in the younger generations, which is somewhat missing when we compare that with minds from other parts of the country like Mumbai, Delhi NCR, Gujarat, Bengaluru, etc.

Many people in Assam are unaware of important institutions like the Indian Institute of Entrepreneurship near Games Village and the Assam Financial Corporation at Paltan Bazar, Guwahati. Many normal middle-class families in the state still carry the notion of celebrating getting even a small government job and looking down at businesses. Many people still think that if a person is unable to find a job, he or she will start their own business. This is one of the reasons why many non-Assamese people have been able to successfully establish their businesses and generate good revenue in Guwahati, due to the lack of good competition.

To add to all these problems, Assam lacks an IIM of its own. The few local MBA students who perform well in national-level entrance exams like the CAT exam end up leaving the state to pursue MBAs at top colleges nationwide. They end up taking well-paid jobs post-MBA or starting their own ventures outside the state because of the better business environment and ease of doing business there.

Having a top MBA institute like an IIM in Assam will help in retaining the top entrepreneurial talent within the state. Also, it will help in motivating the young graduates with sharp business minds to work hard and fetch admission in the IIM, similar to how IIT Guwahati has helped generate more engineers within the region over the years. If Maharashtra can have two IIMs, why can’t Assam have one too? With changing times, there is a growing need for a transition in people’s instincts from being job seekers to job providers.

Partha Pratim Bora,

Guwahati.

Controlling on inflation

NITI Aayog considered the increase in MSP to be a major cause of inflation. The committee wants the Commission for Agricultural Costs and Prices (CACP) to examine the method by which agricultural costs are calculated. The authority wonders how the cost can go up despite the subsidy on fertilizers and water. But does the Authority know that even if farmers sell their crops after protecting them from the vagaries of nature, pests, destruction of crops by animals, and exploitation by middlemen, only a few percent are sold at MSP? There is hardly any other production system in which there are no cost constraints, but there are enormous political constraints on production. The Indian government has frozen the export of rice and wheat, the main produce of farmers, while increasing the export duty on onions. The intention behind all this is the same: it is election time, hence it is necessary to stop inflation. The question is, if the farmer is producing more, would it be appropriate to give him an incentive, or would it be the right policy to motivate him to produce less? In a welfare state, the hard-earned money of a section should not be allowed to be taken at market price just because it will increase inflation. Then, if there is a continuous ban on exports, there will be no trust in the products of India, due to which a big opportunity will be lost.

Nawaz Ashraf,

Guwahati.