Indian Knowledge Systems (IKS) for Business, Economics, Finance and Entrepreneurship

Indian Knowledge Systems (IKS) are a vast intellectual treasure trove of philosophy, economics, mathematics, medicine, governance, ecology, education, management and entrepreneurship. For the NEP 2020 and Indian Knowledge Systems this heritage is not only from the past but it is also applicable to higher education, professional education, research, innovation and contemporary economic life. This book titled Indian Knowledge Systems (IKS) for Business, Economics, Finance and Entrepreneurship addresses this emerging need to bridge the traditional Indian knowledge and contemporary academic and professional disciplines.The main focus of this book is the individual understanding of Indian economic ideas, Indian management ideas, ethical creation of wealth and culture-based economic development ideas from the perspective of the students, teachers, researchers, entrepreneurs and business professionals. Various concepts like Dharma, Artha, Kama and Moksha (the Purusharthas) Arthashastra, Rajdharma, Karma Yoga, Seva, Ahimsa, Satya, Aparigraha and Vasudhaiva Kutumbakam offer significant conceptual underpinnings for exploring business ethics, leadership, governance, wellbeing and sustainable development. These ideas are presented together with current issues instead of simply reviewing them as historical artifacts.Chapters deal with Arthashastra and Indian economic thought, ancient Indian trade patterns, shreni system, temple economy, indigenous financial practices, cooperative banking, microfinance, financial inclusion and ethical finance. They also explore Indian entrepreneurship, social entrepreneurship, Swadeshi, Atmanirbhar Bharat, Ayurveda, and the wellness economy, thus accentuating the value of traditional knowledge to inform contemporary enterprise and value creation. These themes mirror the broader thesis of the book linking civilizational knowledge to the businesses and economies. A second focus is on Indian Management concepts such as 'Dharma in management', leadership, leadership in organizations, corporate governance and servant leadership and organization behaviour and Indian psychology. The Panchakosha model, Yoga philosophy, the Yamas and Niyamas, Pranayama, meditation, mindfulness and the Guna framework provide some insights in to the holistic wellbeing, employee development and organizational excellence. This book also evolved the concept of IKS to business ethics, ESG, Gandhian Trusteeship, circular economy, indigenous ecological knowledge, biodiversity conservation, sustainable agriculture, and traditional water management and sustainable development.The area is then rubbed forward through IKS marketing to consumer behaviour, value-based branding, Ayurveda and wellness branding, Swadeshi, ethical sourcing, storytelling and consumer confidence. It also delves into connection with Indian Knowledge Systems – Nyaya logic, traditional rules of logic, Panini's grammar, computational linguistics, ethical AI, FinTech, digital trust, data privacy, blockchain, Industry 5.0 and the digitisation of traditional knowledge. Lastly, the book aims for the future based on research, policy, innovation, start-ups, technology, climate solutions, global cooperation and higher education in the area of IKSA. It's message is that modernity and tradition don't necessarily conflict. NEP 2020 IKS education can inspire our graduates to think critically, act ethically and create solutions which are pertinent to the Indian social, cultural, economic and ecological context.The book thus is designed to serve both as an academic resource, and as a link to the future of the knowledge economy in India and the knowledge heritage in India. It welcomes the audience to learn how Knowledge Systems in the Indian contexts of business, economics, finance and entrepreneurship can help bring forth Responsible Leadership, Inclusive Growth, Sustainable Innovation and A Globally Relevant but Culturally Grounded Vision of Development.