Henry Ford's Higher-Wage Model: A Growth Mantra for India

Imagine a car company owner who wanted to sell more cars.

Instead of just trying to make cars cheaper, he decided to pay his workers more money.

This meant his workers could afford to buy the cars they were building!

He also figured out new ways to build cars faster and cheaper, like using an assembly line.

This way, he could pay his workers well without making the cars too expensive.

More people buying cars meant the company grew, hired more people, and paid them more.

This idea, from Henry Ford long ago, is what an expert named Arun Maira thinks India should do.

He believes India should focus on paying people better wages, so they can buy more things.

This will make companies want to make more things, create more jobs, and help everyone earn more money, especially in the countryside.

He also says it's important to make it easier to start and run businesses in India, but without getting rid of good rules.