How Individual Productivity Shapes India’s Economic Future

Recently, Infosys co-founder N.R. Narayana Murthy made a comment regarding working for 70 hours a week, sparking a significant discussion that continues. The question remains: while stalwarts like Narayana Murthy advocate for working 70 hours a week, is this truly the right path to enhancing India’s productivity??

Let’s delve into this discussion based on facts and figures.

What’s Happening?

Infosys co-founder N.R. Narayana Murthy addressed the youth, suggesting that to boost the nation’s economy, young individuals should work 70 hours a week. Alongside advocating for long working hours, Murthy compared it with the labour of poor farmers and factory workers. He also emphasised that those who have received subsidised education have a duty to work hard for the less fortunate citizens of India.

Furthermore, his wife Sudha Murthy revealed that her father used to work more than 70 hours a week, and even her sister, who is a doctor, works 70 hours a week.

So, we have seen Infosys co-founder N.R. Narayana Murthy recommending working for 70 hours a week. But the question is whether there is truly a correlation between productivity and working hours. Let’s first understand productivity in the language of economics and then proceed.

What is Productivity?

In economic terms, productivity refers to the result obtained for each unit of resources invested (such as labour, capital, etc.) in the production of anything. For example, if a company produces 1,000 products with 100 workers, its labour productivity would be 10 products per worker.

Overall, a country’s economic productivity is measured by dividing its total domestic product (GDP) by the total hours worked by its people. This indicates how efficiently the economy is functioning.

In simple terms, productivity tells us how much output we are getting for the input we are putting in. The lower the input and the higher the output, the greater the productivity.

Let’s see now, in the eyes of economics, which countries have the highest productivity in the world:

Ireland leads the world in productivity based on GDP per hour.

India’s Labour Productivity

When we talk about India’s labour productivity, it is quite weak. According to the Economic Times, in 2021, India’s labour productivity was only $8 per hour, compared to the global average of $21.6 per hour. Additionally, if we compare with China, while China’s productivity is better than India’s, at $13 per hour, it still lags far behind America’s $60 per hour.

Solution to Enhance Productivity

Increasing working hours is not the solution; instead, working smartly is essential.?

Let’s understand this with examples:

China’s productivity is higher than India’s, indicating that productivity does not necessarily increase with longer working hours. China’s working hours are similar to India’s, but their productivity is rapidly increasing. Therefore, we need to adopt a smarter approach.

In Ireland, working hours are fewer, but productivity is significantly higher. This is due to better technology, skilled workforce, and high-value employment.

Future Outlook

Judging Narayana Murthy’s statement solely based on working hours would be wrong. It is necessary for us to recognise our strengths and use them to improve our own and others’ lives.

Additionally, in the context of the economy, working 70 hours or more per week is not the solution to India’s problems. We need to work smartly, promote new ideas, and formulate better policies. Because Ireland has the highest productivity in the world, while the average working hours are significantly lower than in India.

That’s it for today. We hope you’ve found this article informative. Remember to spread the word among your friends. Until we meet again, stay curious!

*The article is for information purposes only. This is not an investment advice.

*Disclaimer:?Teji Mandi Disclaimer