Udaipur –“ We must understand and adopt needonomics for Swarnim Bharat with needo-wealth, needo-health and needo-happiness towards 2047”, justified Prof. Madan Mohan Goel, Former Vice-Chancellor known as founder Needonomics School of Thought superannuated from Kurukshetra University.

He was delivering a distinguished lecture organised by the Faculty of Management Studies, Mohan Lal Sukhadia University, Udaipur today. His topic was “Relevance of Needonomics for Swarnim Bharat Towards 2047”. Prof. I.V. Trivedi Vice-Chancellor presided over the function. Prof Meera Mathur convener delivered the welcome address and presented a citation on the achievements of Prof. M.M. Goel.

Holistic living based on the principle of needonomics calls for a new policy framework in all the sectors of the economy including foreign trade policy by creating consumer surplus on the basket of goods to be exported including Khadi & Jaggery, believes Prof. Goel.

We must understand and adopt needo-consumption, needo-saving, needo-production, needo-investment, needo-distribution, altruism, and needo-trade for glocalization (think globally and act locally), explained Prof. Goel.

For needo-altruism to help others (Not Me but You of NSS), we must make efforts to earn more than the total expenditure and become the means of helping others to help themselves, said Prof. Goel.

To create demand for the goods and services, there is a strong case for adopting the NAW (Need, Affordability and Worth) approach to international marketing, believes Prof. Goel.

Prof. Goel said all challenges and worldly problems in the present era call for a spiritually guided materialism (SGM) strategy.

We have to address illness in the behaviour of all the stakeholders as consumers, producers, distributors, traders, policymakers and politicians, told Prof. Goel.

We must become street SMART( simple, moral, action-oriented, responsive & transparent ) with Needonomics as a common sense approach for Swarnim Bharat towards 2047, believes Prof.Goel.