Iam often asked about how the global Indian diaspora perceives the India growth story. My answer would be:mostly very well, but people would like to see more being done for the poor people of India because a society without all the people benefiting can cause its own problems. Otherwise, India's growth story is seen as an extremely good example.
And I say this even in these hours of gloom and crisis. The crisis is a global one. It requires a lot of vision and hard work on the part of governments and the people to deal with a situation like this.
However, the bright side for India is that the common man is
very resilient.
This is visible when you see the 600 million people earning below $2 a day, yet they still manage to remain reasonably happy and do not protest to an alarming extent. That is the real bright side
of India.
I hope they can persuade the powers that be, and the rich, to keep them in mind.
I have no doubt whatsoever in my mind that there is hope in India's social, political and economic life. And the year 2009 and beyond can actually be turned into years of HOPE with a little bit of extra drive.
On the social side, there is a lot of good development of better and dedicated NGOs, who seem to be working hard. If we can keep them dedicated that is the biggest hope for the social side of life.
On the political side, in my view coalition governments are not a bad thing. However, more understanding will be required in running coalition governments so that every now and then they don't fall apart.
The economy is doing alright, except it is only for part of the society. Indians should make an effort to make things better for all people, and that would be the biggest hope.
Having said this, I must also add that there is no policy prescription for India's business leaders. They don't need any. They are very capable and very good.
The only prescription required is that the poor man also should be considered in whatever they do. They talk about this, but not enough is done on this front. I hope that the talk can be transformed into action now.
If India can successfully address these few issues in their truest perspectives there is no reason why India should not sit in the same row with some of the developed nations of today over the next couple
of years.
I am extremely hopeful that she will. And one will get to see these indications, hopefully from the next year itself.
Check out the speed. After charting out a high-octane growth curve, India Inc is changing gears and getting into a diversification mode, spotting the booming business domains. In fact, in an aggressive hunt for growth areas, many Indian companies of various sizes and scales have made a serious attempt to join the bandwagon and branch out to new businesses.
Thursday, January 1, 2009
India’s growth story a good example
By Lord Swraj Paul,British House of Lords
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