New Delhi : Addressing a session on “Education, Innovation and Entrepreneurship” at the Bharat Startup Summit 2026, organized by CCI India at the India International Centre, Prof. Madan Mohan Goel, Propounder of the Needonomics School of Thought and former Vice-Chancellor, called for the adoption of the Needonomics approach to promote ethical entrepreneurship and sustainable development in India’s rapidly expanding service sector. Anandiban Patel Governor  Uttar Pradesh graced the occasion and addressed online .

Prof. Goel emphasized that Gita-inspired Needonomics provides a value-based framework for strengthening the linkages between academia, innovation, and entrepreneurship, which is essential for building a future-ready and ethically driven startup ecosystem.

Prof. Goel explained the contribution of Needonomics in driving sustainable economic growth and nurturing the next generation of innovators, entrepreneurs, and startup leaders.

He stressed that India must encourage its youth to become job creators rather than job seekers and  highlighted the immense potential of entrepreneurship in the tourism sector, which possesses one of the highest employment multipliers and can significantly contribute to inclusive economic development.

While acknowledging the service sector’s vital role in economic growth, employment generation, innovation, and global competitiveness, Prof. Goel cautioned against excessive commercialization and profit-centric business models. He observed that such practices often lead to consumer exploitation, unethical conduct, workplace stress, environmental degradation, and widening socio-economic inequalities.

Advocating a transition from greed-driven economics to need-driven entrepreneurship, Prof. Goel argued that business success should be measured not merely by profits but by its contribution to societal well-being, stakeholder trust, sustainability, and social harmony. He identified trust, transparency, compassion, inclusiveness, accountability, and ecological sensitivity as the core values of ethical entrepreneurship.

Prof. Goel stated that the NAW (Need, Affordability, and Worth) approach to entrepreneurship is key to achieving Viksit Bharat through ethical, inclusive, and sustainable growth.