Market-driven society can curb corruption: C K Prahlad

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Bangalore, Jul 16 (UNI) Market-driven economy is a surefire way of curbing corruption that had hindered the progress of the country for a long time, Management Guru C K Prahalad said today.

Speaking to reporters at CII Karnataka Chapter here to explain how his 'India@75: The emerging Agenda' could be achieved, he said opaqueness in transaction, whatever be it, should be curbed.

''To bring down corruption in society we should allow the market to drive the economy. India has come a long way from the ten-year wait to buy a scooter or a telephone connection, to this day of great promise. Does anybody pay a bribe to buy cellphones today?'' he asked.

He, however, said corruption was a complex social phenomena and issues like achieving good governance or rooting out corruption were not easy.

Calling the country's leaders to 'subscribe to Young Indians', he said youth would be the driving force behind India becoming a global leader, be it in industry, commerce or innovation.

''India will be in a position to shape the emerging World order in the future because of the youth of this country have the drive.

You need to project a suitable model and then see it proliferate very quickly as Indians are good at it. IT revolution is a shining example in this regard,'' he said.

Prof Prahalad, the Paul and Ruth McCracken Distinguished University Professor, said the country had to build models and experimentation that would result in India move ahead at a 'lightning speed.' ''To achieve this we must first ensure that the country gets the needed economic strength, technological vitality and more importantly the moral leadership,'' he said.

He agreed that the social divide would not disappear whatever be the pace of development, but it had to be managed.


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