A research conducted by Mr. Charan Singh, RBI Chair Professor of Economics at IIM-Bangalore, suggests that the Gujarat development model has 5 basic pillars – water power, energy, human resources, knowledge power & security.

These 5 basic pillars have boosted the corporate world in numerous ways and have created a lot many jobs. This has resulted in a very low unemployment rate in Gujarat and a growth rate amongst the highest in India.

Gujarat has also empowered corporate houses willing to do business there. For example, inviting Tata for the Nano plant and also connecting with the whole world through Vibrant Gujarat summits. India has immense potential and the world has recognized that. However, there is still a need to bring in proper focus to make the environment and conditions more business-friendly. This would indeed lead to thriving micro, small & medium enterprises creating a lot more jobs, not only for Indians but for people from all around the world.

Encouraging public-private partnership & focus on tourism along with these 5 basic pillars of Gujarat model could really open up a new era of progress & development for India.

Creating more jobs by corporate-friendly policy-making would indeed solve the majority of the problems for India. And there would also be some macro level implications for HRM in India solving the problems companies face nowadays for talent acquisition, talent management, stress management, return on recognition, downsizing, etc.