I have just returned from a month-long book tour of India, where I spoke at various Universities and with the press and media about the unique financial wisdom of India and how it can transform the world at this crucial juncture. My latest book, ‘Inclusive and Sustainable Finance’ draws upon three decades of research, practice, community leadership and teaching. Trillions of dollars are being channelled into new green and sustainable finance initiatives. Still, doubts and questions are being raised even by top experts and the European Union about the legitimacy and authenticity of this new funding stream.
Is green Finance or ESG the triumph of spin over truth when it comes to limiting carbon emissions and improving equality and social responsibility? How can the money be channelled away from short-term greed into long-term health for people, animals and the planet? Finance is the fuel which lights the global fire and how it is applied is hugely relevant to how we dig ourselves out of this big hole.
During my trip, I observed Finance in action and tested my thesis. Mr Kanti Haria was a global visionary and entrepreneur long before India deregulated, travelling widely and trading with all peoples and cultures in a win-win way. The young food seller in Jamnagar seemed to have six hands - he was cooking a fresh vegetarian breakfast on the street, weighing and collecting cash, explaining how he learnt his trade, all with a big smile and a simple but sustainable desire to feed his customers at a very affordable price. My shoes were shined in Mumbai for twenty rupees, and when I commented on how new they looked, he responded - “Sir, that is why I am in this trade. To convert the old to the new” - with the widest of smiles.
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Organic Finance, self-made and hard-earned, with an understanding of the nature and limits of money, was everywhere to be seen. Finance was a means to an end but not an end in itself. Entrepreneurs who made it big ensured the flow of Finance through philanthropy, often giving anonymously.
A millionaire’s house in Ahmedabad was opened to the public for the renunciation ceremony of new monks and nuns. Everyone could visit the temporary exhibition at his home. During renunciation, new monks and nuns break all their ties with the material world, showing merchants that it is possible to have infinite vision with zero money. When entrepreneurs see this, it keeps their greed in check. Professor Devendra Jain at Flame University shows a passion for compassionate Indic Finance which is truly rare and very timely.
I am truly grateful to the new privately funded Universities in India - Flame, Jindal and Ahmedabad- and the unique ways they promote ethical and interdisciplinary education, experimenting with new models of teaching and research. Their hospitality was very rare to experience. I went to India to give the country copyright to my book. I have come back wanting to continue to share this research and theoretical breakthrough with the wider world. Help me by buying and gifting copies of the book to your customers and suppliers.
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Professor Atul K. Shah [@atulkshah] teaches and writes about Indian wisdom on business, culture and community at various UK universities and is a renowned international author, speaker and broadcaster.
