“To address the entire domain of the issues in economics, finance, management & technology in present times, we must understand and adopt needonomics as an ethical and environmental friendly approach”, opined  Professor  Madan Mohan Goel  Former Vice Chancellor &  Propounder Needonomics School of Thought superannuated from Department of Economics Kurukshetra University.  He was delivering the keynote address at the inaugural function of the international conference on recent advances in economics, finance, management & technology (icrefmt2024) organized by CMR University, Bengaluru. His topic was ‘Relevance of Needonomics in Contemporary World ‘. Chancellor Dr Sabitha Ramamurthy presided over the function.  Prof.  H. B. Raghavendra Vice Chancellor delivered the welcome address.  Prof.  Bhupendra Bahadur Tiwari Director, School of Economics and Commerce, C  presented a citation on the achievements of Prof. M.M. Goel. Prof Prem Vrat  Pro-Chancellor  North Cap University Gurugram, Dr. K. C. Ramamurthy, IPS (Retd.) Chairman of CMR University and Prof Prahlad Kumar Ex Dean  Faculty of Commerce University of Allahabad were present as the chief guest and guest of honour respectively.

Needo-adopt Gita-based Needonomics for the solutions of the contemporary problems caused by Greedonomics told Needonomist Goel.

He explained that like a honey bee collecting just enough to sustain but not too much to destroy, economic practices should align with the principles of managing society responsibly.

To fetch the fortunes in present times of global competition, we need to create a business environment for Intellectual Property Rights (IPR) with its understanding and implications for converting into a business proposition, argued Needonomist Dr Goel.

 Needonomics (economics of needs) based on Gita is a simple and practical formula for the stakeholders of the economy to adopt for the socio-economic problems, told Prof. Goel.

The stakeholders  must think out -of–the–box solutions for different aspects of the economy including needo-consumption, needo-saving, needo-production, needo-investment, needo-distribution, needo-altruism, needo-trade for ensuring needo-wealth, needo-health and needo-happiness of the people, explained Prof Goel

To achieve success in all the endeavours of the contemporary world, the stakeholders must convert the monkey mind (misuse of AI) to the monk mind ( use of SI), emphasized Needonomist Goel.

We must become street SMART (simple, moral, action-oriented, responsive & transparent) with needonomics as a common sense approach.