Prof. M.M. Goel Urges Indian Women to Embrace ‘Needonomics’ as a Catalyst for Viksit Bharat

Highlighting the crucial role of women in nation-building, renowned economist and former Vice-Chancellor Prof. Madan Mohan Goel called upon Indian women to adopt ‘Needonomics’—an indigenous economic philosophy based on the principle of need-based consumption—as a powerful tool to drive India’s transformation into Viksit Bharat (Developed India).

Prof. Goel was speaking as the Guest of Honour at the National Seminar on “Women-Led Development”, organized by the Centre for Narendra Modi Studies (CNMS–NaMo Kendra) at the India International Centre (IIC) in New Delhi. The seminar was held to commemorate the 102nd birth anniversary of Aadaraniya Maa Heeraben, the revered mother of Prime Minister Narendra Modi.

What is Needonomics?

Needonomics, a term coined and championed by Prof. Goel, is an alternative economic model that advocates for:

• Minimalism and mindful consumption,

• Spirituality in economics,

• Self-reliance (Atmanirbharta),

• And the ethical use of resources, especially in a consumption-driven global society.

At the core of Needonomics is the belief that economic decisions should be driven by needs, not wants, enabling sustainable development while preserving cultural and moral values.

Women as Catalysts of Ethical and Need-Based Economy

In his inspiring address, Prof. Goel emphasized that women are inherently better suited to implement the principles of Needonomics, given their traditional role in resource management, household budgeting, and community leadership.

“Women are natural practitioners of economy based on need, not greed. If Indian women embrace Needonomics, they will not only uplift their families but also strengthen the foundation of Viksit Bharat,” he said.

He further argued that economic empowerment of women must not be limited to income generation, but should also include ethical education, value-based decision-making, and leadership training, which align with the core values of Needonomics.

Tribute to Maa Heeraben: Symbol of Values and Simplicity

The seminar held a special emotional significance as it was dedicated to Maa Heeraben Modi, widely revered for her simplicity, discipline, and quiet strength that shaped the early life of Prime Minister Narendra Modi.

Speakers across the event highlighted Maa Heeraben as a symbol of India’s rooted, value-driven womanhood, and a living embodiment of the ideals that Needonomics promotes—self-restraint, dignity in simplicity, and devotion to duty.

CNMS and Women-Led Development

The Centre for Narendra Modi Studies (CNMS–NaMo Kendra), the host of the event, has been actively promoting women-led development as a strategic pillar of India’s growth under the leadership of PM Modi. The seminar brought together scholars, policy experts, activists, and students to deliberate on how gender-inclusive economic models like Needonomics can offer long-term solutions to challenges such as consumerism, inequality, and environmental degradation.

Prof. M.M. Goel’s address served as both a call to action and a philosophical framework for rethinking India’s developmental journey. By encouraging women to lead with purpose, ethics, and restraint, Needonomics offers a uniquely Indian response to global economic challenges.

In the vision of Viksit Bharat, women are not just participants but pioneers of change, and as Prof. Goel aptly put it, “When women lead with wisdom and values, they don’t just change homes—they change nations.”