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Nobel Laureate And Magsaysay Awardee Muhammad Yunus On Redesigning Economic Process And Building Rural Independent Economy

Nobel Laureate And Magsaysay Awardee Muhammad Yunus On Redesigning Economic Process And Building Rural Independent Economy

Highlights

  1. Nobel Laureate Muhammad Yunus called to build independent rural economy
  2. Mr Yunus suggests a people-centric economy instead of urban-centric
  3. Mr Yunus recommends investing with the micro-entrepreneurs
New Delhi: 

Coronavirus pandemic has impacted one and all but the people and households that have been impacted the worst are daily wagers, small farmers, tribals, and migrant labourers. The pandemic has also led to reverse migration but the struggle to earn livelihood remains unchanged for poor families. So how do we help them? Muhammad Yunus, Founder, Grameen Bank in Bangladesh, Nobel Laureate and Magsaysay Awardee, suggests building a new institutional format, new ideas of building an independent rural economy.

In an effort to build livelihoods of over 15,000 most needy households (tribal, migrant/daily-wage homes and others, poorest of poor families) in rural Raigad and Nashik districts of Maharashtra, NDTV in collaboration with Swades Foundation, a non-profit organisation, has started a campaign Swades Building Livelihoods. Mr Yunus extended his support to the campaign and shared tips on how to build livelihoods and create the economy.

Mr Yunus called to build an economy where the people live; this way people will not have to leave their home at least for a survival level economy. For the same, Mr Yunus suggests three key initiatives, firstly, to have Ministry of Micro-entrepreneurs and said,

Rural economy should be an independent economy. And the people we are dismissing as informal sector, they are actually micro-entrepreneurs. They do things on their own. So, we should have a huge sector of micro-entrepreneurs and we should even have a ministry of micro-entrepreneurs.

Further, Mr Yunus emphasised on creating social business micro-entrepreneur bank and having its headquarters in the rural area. The financial institution will encourage micro-entrepreneurs to climb the ladder. Elaborating on the role of micro-entrepreneurs, Mr Yunus said,

Micro-entrepreneurs are the base or the foundation of the entire entrepreneurial pyramid of this country. So, on the top, you have the multi-billionaire dollar people and the entrepreneurs. Then in the middle, you have the multi-million dollar entrepreneur. In the bottom, you have multi-hundred dollar entrepreneurs. They are as significant as the multi-billion dollar because they are the beginning of their journey.

Social business microfinance institutions will help in eliminating loan sharking that often eats up the micro-entrepreneurs. Along with this, Mr Yunus suggests investing with the micro-entrepreneurs.

Any business can have joint ventures with the micro-entrepreneurs. They are business people, we are business people. We have joint ventures. But we are helping them to grow as we grow. So, it is a simultaneous thing, said Mr Yunus.

Thirdly, focus on women, said Mr Yunus as he believes women will change the world. He added,

If you can address them in a massive way you will see how the economy will grow and how things will start changing.

Before signing off, My Yunus stressed on building whatever similar institutions for the poorest people as we have for rich people.

Ultimate solution is to let people stand on their feet so that they can contribute, they can create their own worth, and they have enormous creative power. Creativity is not lacking anywhere. We have simply denied that creativity from coming out. So, we create institutions, policies. It's a reversal of the process that you want to do. And continue to do that as you go along, said Mr Yunus.

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Adopt a Silai School

Adopt a Silai School

Do you want to be a part of the huge change that Usha Silai School is bringing about in the lives of millions of rural women? With just a simple click of a button, you can now contribute towards the opening of an Usha Silai School or support various other aspects of the school.

About the Initiative

About the Initiative

Kushalta Ke Kadam, an initiative by NDTV and USHA, aims at empowering women from rural India and encourages them to become entrepreneurs by taking up sewing and training others in their respective communities. Since 2011 Usha Silai Campaign has trained more than 3.95 lakh rural women within five years, with 17,000 Silai schools, spanning over 9272 Indian villages in India.

 

Kushalta Ke Kadam in Season 4 has returned with new goals and vision. The new season will witness the establishment of the new cluster in Kashmir, apart from the existing four clusters setup last year. The women from volatile Kashmir will work with well-known fashion designer Rohit Bal and get an unique opportunity to learn from him and make clothes for him. The work done by the Silai School women will be presented at Lakme Fashion week 2019.

 

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In Pics

Kushalta ke Kadam: Aiming for Independence Through Stitching
Kushalta ke Kadam: Aiming for Independence Through Stitching

Rebari girls grow up learning traditional embroidery, which along with their new found sewing skills developed at Usha Silai Schools, is helping them earn a living.

Kushalta ke Kadam: Aiming for Independence Through Stitching

Usha Silai School has empowered many rural women to support their family and send their children to school.

Kushalta ke Kadam: Aiming for Independence Through Stitching

The Usha Silai School, established in a small nondescript village that goes by the name of Kottai, is helping empower people from varied communities.

Kushalta ke Kadam: Aiming for Independence Through Stitching

The all-inclusive Usha Silai School Programme covers the entire nation from hamlets tucked between hills to villages cast by the sea.

Kushalta ke Kadam: Aiming for Independence Through Stitching

Vegetables farmers from the Mizoram hills earn very little given the topography of the area. Usha Silai Schools have played an important part in this region by skilling women to financially contribute towards their households.

Kushalta ke Kadam: Aiming for Independence Through Stitching

Usha Silai School learner Lucy has trained seven other women in her community, helping them to become financially independent.

Kushalta ke Kadam: Aiming for Independence Through Stitching

Women like Kaviben from the nomadic Rebari community are finally laying down their roots as they begin to gain financial independence and thereby stability through Usha Silai School.

Kushalta ke Kadam: Aiming for Independence Through Stitching

Usha Silai School, located in the Gujarat's Bhuj village, is enabling rural women to earn as much as Rs. 2,500-4,000 each month.

Kushalta ke Kadam: Aiming for Independence Through Stitching

Usha Silai School, in association with a Gujarat based NGO called Kala Raksha, is trying to bring about a Silai revolution in Bhuj.

Kushalta ke Kadam: Aiming for Independence Through Stitching

Besides training other women from their community, many Usha Silai School learners have become entrepreneurs in their own right.

Kushalta ke Kadam: Aiming for Independence Through Stitching

With sewing becoming easily accessible and lucrative, the silai schools are also helping revive traditional motifs and designs.

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