Will India ever be a US even if we all tried very hard? Because this is not a possibility in even the far off future, Indian politicians keep comparing with China’s growth and lull everyone into false dreams of progress. Studying the shooting Sensex is meaningless because less than 4 percent of our population invest directly or indirectly in the stock markets. Economic theories are just that; dull unreal precepts to keep the seminars, the hacks and the PhD researchers going.
Navhind Times reports the joy of the business honchos who had assembled at the recently concluded 34th convention of the All India Management Association (AIMA) in Kolkata. As is usual in these events everyone congratulated each other for creating a shining India. Only India is not even well lit, leave alone any shining.
Everyone is gushing these days about India’s primacy in the spheres of economy and trade. Special Economic Zones (SEZs) and mega-power projects are the craze of our times. Yet we as a nation have turned a blind eye to two issues. We are not willing to accept that our economy is not supported by internal parameters but by foreign monetary inputs.
The recent dip in the stock markets after SEBI had just hinted at banning certain foreign money from being pumped into the markets is a clear indication of the hollowness of our economy. Notice also how the rising rupee against a weakening dollar has put so many export-businesses solvent. Even giants like Infosys have declared sluggish quarterly results. The most striking example of the weakness of our economy is the way it was recently affected by the sub-prime crisis in the US.
Rich Indians are shamelessly grabbing land from the poor. This is being done in the name of progress, infrastructure development and power generation. For these projects thousands are being rendered homeless. Sadly, the State no longer hesitates to violently clamp down on protests and mass resistance. No one knows what happens to these people who are displaced. They seem to just vanish. Having lost domicile they are unimportant to our politicians. Thus, none cares about them anymore.
Then who are helped by these industries, which have no place for illiterate Indians?
To answer in the normal business jargon fashionable today: value is added to a burgeoning economy which reflects the aspirations of a modern India. Modern India has forgotten its economically backward people. That is all. No conference can revive the memory of something deliberately erased and forgotten.
Via: Navhind Times