India in the New Year

In his op-ed entitled "We are all in this Together" published in the Hindustan Times this weekend, Nachiket Mor writes:

What is well known is that we are a nation of 1.2 billion people growing at among the fastest rates in the world, with an economy of $1.2 trillion. What is less well known is that, of these 1.2 billion people, fewer than 20% have an income in excess of $2 (about Rs 30, using a purchasing-parity rate of Rs 15) a day and that the poverty line in India is set at approximately $0.80 (about Rs 12 in purchasing parity) a day while the developed world defines it at over $10 (about Rs 150 in purchasing parity). This 80%, meanwhile, continues to struggle with very poor, if any, access to quality primary healthcare, elementary education and basic financial services.

Despite these facts, however, it is an optimistic article that focuses on the reasons he sees inclusive growth occurring in India:

1) There is a strong desire for change

2) We have the necessary tools

3) The right leadership

4) New operating models

Within new operating models, he writes that:

"We are also seeing some powerful new operating models emerge, which are using these new tools for the delivery on a large scale of critical services that we have long struggled with. For example, the LifeSpring hospital chain is showing that a high quality normal delivery can be done for Rs 3,000 and a Caesarean section for Rs 9,000; the IFMR Trust, which seeks to broaden access to financial services, is showing that it is possible to deliver well designed wealth management services to the poorest households in Uttarakhand and still offer loans at half the rates prevailing in the market with no subsidies; and Educational Initiatives, which works in the field of assessment, benchmarking, teacher training and curriculum services, is showing that it is possible to test at scale how well children have actually learned the underlying ideas as opposed to just mechanically memorising what they have been taught in school. All this makes me hopeful that the next 10 years will be the decade of inclusion."

For the full article, click here.

Nachiket Mor visited LifeSpring this past summer, as part of his research on innovative models around healthcare for the poor. I was extremely impressed by his approach: he listened more than he spoke; he asked more than he declared, and when questioned on his opinions, he was extremely articulate, data-driven, and outcomes-focused.

When I asked why he is now focused on healthcare, he noted that the three key items that low-income Indians need access to in order to spur growth are finance, education, and healthcare. Having made his career in finance, he sees exciting innovations happening in education, but a dearth of progress in healthcare. He speaks with optimism and excitement about the possibilities of focusing on a micro-level on the holistic healthcare of one village: each and every villager being tracked and treated, beginning with preventative care. They are doing this now in one village in Karnataka.

It's an exciting initiative, and I look forward to watching them scale.