Raghuram G. Rajan is an expert economist popular all over the world. He was formerly the Governor of Reserve Bank of India. Rohit Lamba is a Professor serving Pennsylvania University in the U.S. Both have jointly authored a book – ‘Breaking the mould: Reimagining India’s Economic Future’. It presents a novel outlook towards Indian Economy in the world to come. The central idea of this book is that young men and women in India should stop seeking jobs and become successful entrepreneurs who give jobs to others. They have taken a Keralite youth Mustafa as the subject of their case-study.
Mustafa was raised by poor parents. He used to starve and suffer quite often. Poverty made him a school drop-out. His math teacher motivated him to continue his studies. His counselling ignited a spark in the boy who made it wild fire. There was no looking back in life since then. Mustafa scaled amazing heights. His academic excellence was incredible later. He graduated from the National Institute of Technology in Calicut and passed his Degree course in Computer Science. He joined Indian Institute of Management in Bangalore and obtained Masters degree in Business Management. He got a lucrative job and began earning.
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Mustafa founded his own Company – ‘I.D. Fresh Food Company (Kerala).’ Dear readers, you would be surprised to learn that I.D. Stood for “Idli” and “Dosa” – favourite food of Indians. He invested Rs.50,000/- as capital and started producing batter for Idli and Dosa. There were only a grinder, a weighing scale, sealing machine and a few sundry materials. The good quality of his batter and the hygienic process made his company thrive fast. Money poured in like a shower and Mustafa emerged a highly successful entrepreneur, offering jobs to the unemployed youth. The secret was that his batter was better batter.
Mustafa studied market condition smartly and expanded his business. He learnt to reduce wastage of batter. Unavoidable left over was offered free of cost to orphanages and social service forums. Problems did crop up but he never lost hope. As a very smart entrepreneur he avoided bank loans. He reinvested the profit earned. He rapidly advanced using his high level of intellect.
Who would believe that one who was once a school drop-out and a starving kid, is today the owner of five food-chain establishments, feeding nearly 2500 employees? I.D. Fresh Food Company has 650 delivery vans. It is now involved in the sale of dairy products, many instant food packets, tea, coffee etc; Mustafa is busy with innovative marketing techniques to multiply his profits and assets. The credit goes to his math teacher Mathew who brought his student from rags to riches. He made Mustafa break old moulds and design new moulds for something different. Today, instant-batter packets have flooded the market. Fast mechanical life makes customers grab them. Thinking out of the box is very important for the youth of this generation.
My dear readers, encourage your children and grand-children by motivating them to become employers – not mere employees. Becoming job givers, rather than job seekers, would make their life lovable, wouldn’t it?
Courtesy : ‘Viduthalai’ -21st & 22nd March 2024
Translated by : M. R. Manohar
