India must address 'inequality' to become flourishing nation, says Tata Sons chairman

If India is to become a flourishing country, it must address issues like "inequality", provide access to basic healthcare and education, and offer skills and training to the youth, Tata Sons chairman N Chandrasekaran said here on Saturday.

The top industrialist, speaking at the Global Alumni Meet (GAM2025) of NIT Tiruchirappalli, said the country is uniquely positioned to capitalise on global uncertainties, with some of the major transitions currently underway playing to India's strengths.

"Things we need to address if we want India to be a flourishing country are inequality inequality in every sense. In simple terms, the per capita income in southern states is four times that of the eastern and northern states. We need to fix this inequality," he said.

Elaborating on his point, he said that access to basic healthcare and education is key.

"When I say access, it's not just about hospitals. We need access to doctors and teachers in terms of education. We fall way short of the global standards defined by the World Health Organisation," he said.

"Most of our doctorstwo-thirds of themare living in urban areas, while two-thirds of the population lives in rural areas, which is a problem. In terms of education, we are short of at least a million teachers," he said.

Observing that over a million people enter the job market every year, he said that people need to be skilled, and labour productivity in the country is "astonishingly" low compared to countries like the United States.

"One of the problems we have is that most of our people are in informal jobs. The number of people working in formal jobs in the country is very low," he remarked.

Chandrasekaran, a recipient of the Padma Bhushan award, said that if India addresses all these concerns, it would be on the cusp of something special.

"The global trends of sustainability, renewable energy, and artificial intelligence are playing to India's advantage, and we can play a significant role," he noted.

He urged that India must seriously invest in research, as the number of PhDs in the country is "very low compared to the United States and China."

"We need to invest in research, whether it's in materials or life sciences. I think as a country, we should be giving young people confidence and a helping hand. We have a unique opportunity," he said