Philosophy

In pursuit of its mission, the India Enterprise Council champions the ideals of individual liberty and economic freedom. Consistent with empirical evidence, IEC believes that to achieve sustained and equitable economic development, individual entrepreneurs and private capital should be allowed maximum freedom with government acting as a facilitator and common-sense regulator of markets, not as a direct participant in the economy. The system of capitalism, based on competition and co-operation, requires a strong but limited State with sufficient capacity to enforce contracts and protect property, within constitutional bounds and tightly defined activity areas.

For example, this entails:

  • Privatization and not just disinvestment of state-owned companies because government has no business to do business
  • Greater labour market flexibility with companies having the ability to hire and fire without political interference
  • Proper mechanisms to auction state resources
  • Information transparency by default from public bodies and digital governance
  • Competitive fiscal federalism
  • Disentangling state subsidies for education and health from the state’s provision of the same, to promote choice and decentralized customization according to the unique needs of India’s billion plus citizens