Public Good: Economic Potential of India's Built Heritage

This report examines the economic potential of India's built heritage, considering it as a significant public good. It emphasizes the historical and cultural value of monuments and sites, highlighting their role in sustainable development and tourism. The report discusses the challenges of conservation, including vandalism and inadequate management, and suggests strategies to unlock the economic potential of heritage sites. These strategies include government incentives, private sector involvement, and the integration of cultural events to attract visitors. The report advocates for liberalization in the cultural sector, incentivizing private and non-profit participation. It also suggests combining conservation efforts with urban enhancements and emphasizes the need for a holistic approach that involves local communities. The report concludes by recognizing the importance of adapting heritage sites to meet the dynamics of urban development while preserving their cultural values. References from Appadurai, Kaul, Sable, and Serageldin are included to support the analysis.

Public Good

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Indian Heritage’s Economic Potential
Built Heritage is considered as an important public good, and it is also being recognized in the 7th
schedule of the constitution of India. It provides and gathers several memories of places and their
importance in the identification of the cities. Heritage has incomparable potential for providing
the contribution towards the knowledge of the history and also regarding technology and science
as well. Various structures and sites, even whole areas of the different cities, country wide are
examples of sustainable development, demonstrating highly complex relations of a human with
that of nature.
Similar to other types of cultural heritage, built heritage cannot be replaced. Information and
knowledge from such sources is able to provide different ways for addressing challenges in the
development. India has rich history and has diverse built heritage. Every area of the subcontinent
have monuments which have remarkable archaeological structures. Less than 15000 monuments
are protected in the country. The value of these heritages is significant paradoxes in the planning
and development of urban areas. Heritage sites are considered to be consumables and end up
becoming a source of income for the tourism industry.
Various structures are considered to be important from historical point of view in the country and
are also being protected, but continuously remains under the threat of vandalism and demolition,
because of the cost of the land they are standing. Poor preservation of the bigger part of the
national heritage is because of the people who are given the responsibility of management and
care, are not capable of unlocking the economic potential of such sites and shows that efforts for
the conservation for such sites will lead to the achievement of objectives of development in a
sustainable manner.

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The government should come forward and should make sure that such sites and monuments are
attractive and exciting for visitors. The Economic value of such public goods will be increased
by the including food, ritual, music, sport, dress, and festivals which are related to the sites. This
will help in attracting a number of visitors. Cultural events should be organized in the venues
which are very much less visited by the travelers and money spent on such activities will yield
quick results. For passing the built heritage to the future generations in a better state,
liberalization is needed to be done in the cultural sector, and there is need to bring responsible
private players, nonprofits and resident welfare associations can also be involved. Combining
non-governmental players will ensure that standards are met.
Grants from central government should be made for the conservation of heritage. Permission for
change of land, property tax waivers, and such incentives can be given to people residing in the
100 m of the protected monument. Instead of making use of heritage buildings like libraries or
museums, such structures can also be used and adapted for serving clinics and schools. It is much
more economical, converting a building instead of building a fresh one.
Conservation activities should be combined with urban enhancements activities, enhancing
transport infrastructure, enhancing education, health, and sanitation, which will help the people
to value the heritage, who are living nearby such structures. Conservationists expect local
individuals and communities to work towards the efforts of conservation, without offering
incentives and implementing restrictions. This kind of approach will realize the economic value
of the heritage as a public good.
According to the Vienna MOU, regarding world heritage and architecture, historic cities should
respond to the dynamics of the development. The big challenge will be to improve the quality of
life in urban areas without compromising values of the cities. Various planning measures should

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be devised as soon as possible for recognizing cultural artifacts which require protection. Besides
this built heritage can be used for economic gain by local communities and tourism industry.
References
Appadurai, A., & Breckenridge, C. (1995). Public modernity in India. Consuming Modernity:
Public Culture in a South Asian world, 1-20.
Kaul, I., Grunberg, I., & Stern, M. A. (1999). Global public goods. Global public goods, 450.
Sable, K. A., & Kling, R. W. (2001). The double public good: A conceptual framework for
shared experience values associated with heritage conservation. Journal of Cultural
Economics, 25(2), 77-89.
Serageldin, I. (1999). Cultural heritage as a public good. Global Public Goods, 240.