On growth in India...

Yesterday evening, I went out to the local "dhaba" in the neighbourhood for dinner. Incidentally, while I was still eating, a father and two children arrived on the same table as mine. The father was wearing a shirt on which PepsiCo was embroiderd and was clearly visible.

They ordered two items - half plate each - and one "Naan". Seeing three people (father and two kids) ordering only one Naan, the waiter even asked, "only one ?", but the father was sure.. "Yeah, one for the moment".

I already had started thinking. From the appearances (and I agree that they can be very very deceptive), they looked like people not doing great financially. From the look, gestures, and other behavioural traits that I could monitor, I felt that the kids had been asking for going out to eat for a while and today was the chosen day that father agreed to take them out. Most probably the mother was home and did not come along to save some.

Of course this theory can be wrong, very wrong in-deed. But, if its true, to me it represents precisely the way I see the growth of Indian economy. Its growing, but not universally, as in everybody is growing. Only a select few are growing, and rest are almost where they were. Thus, widening the gap that was there a few years ago between sections of Indian society.

Or perhaps everyone is growing, at different paces. Some are outpacing the inflation and therefore are visibly financially well off, others who are growing, but perhaps not as much as the world around them are growing, therefore lagging behind the society around them, even though they are doing better than they were doing earlier.

This little family that I saw, fits into the mould nearly perfectly. The father was working with PepsiCo.. a MNC from all parameters, represents a bit of growth in itself. I would presume, better working conditions, perhaps a better salary as well. The kids were wearing relatively flashy clothing, which by my personal viewpoint, was not the quality concious choice, but a trend based choice. So, yes they are doing better than a few years, but not as good as the system/society around them demands to be.

Then, I was reading an article in mint (http://www.livemint.com financial daily of The Hindustan Times) by Niranjan Rajadhyaksha entitled "Poor arent lifeless bricks". In there, writer referred to a research done by some social scientists around the financial planning done by the poor people to get through life in such costly world.

One of the inferences of the study was that most of the people fell into poverty due to medical costs or social reasons like family breakup etc. These reasons are really very real, as in real life situations that happen all the time around us. Something similar was found in an study taken up in US a well. I have come across really few articles/studies coming back with reasons as real as this one.

I guess, its time for Dr Manmohan Singh's new government to do something about the "inclusive growth" they talked about...

good luck India...

काँच की बरनी और दो कप चाय - एक बोध कथा

काँच की बरनी और दो कप चाय - एक बोध कथा

जीवन में जब सब कुछ एक साथ और जल्दी-जल्दी करने की इच्छा होती है, सब कुछ तेजी से पा लेने की इच्छा होती है , और हमें लगने लगता है कि दिन के चौबीस घंटे भी कम पड़ते हैं, उस समय ये बोध कथा , "काँच की बरनी और दो कप चाय" हमें याद आती है ।
दर्शनशास्त्र के एक प्रोफ़ेसर कक्षा में आये और उन्होंने छात्रों से कहा कि वे आज जीवन का एक महत्वपूर्ण पाठ पढाने वाले हैं...उन्होंने अपने साथ लाई एक काँच की बडी़ बरनी (जार) टेबल पर रखा और उसमें टेबल टेनिस की गेंदें डालने लगे और तब तक डालते रहे जब तक कि उसमें एक भी गेंद समाने की जगह नहीं बची... उन्होंने छात्रों से पूछा - क्या बरनी पूरी भर गई ? हाँ... आवाज आई...फ़िर प्रोफ़ेसर साहब ने छोटे-छोटे कंकर उसमें भरने शुरु किये, धीरे-धीरे बरनी को हिलाया तो काफ़ी सारे कंकर उसमें जहाँ जगह खाली थी , समा गये, फ़िर से प्??ोफ़ेसर साहब ने पूछा, क्या अब बरनी भर गई है, छात्रों ने एक बार फ़िर हाँ.. कहा अब प्रोफ़ेसर साहब ने रेत की थैली से हौले-हौले उस बरनी में रेत डालना शुरु किया, वह रेत भी उस जार में जहाँ संभव था बैठ गई, अब छात्र अपनी नादानी पर हँसे... फ़िर प्रोफ़ेसर साहब ने पूछा, क्यों अब तो यह बरनी पूरी भर गई ना ? हाँ.. अब तो पूरी भर गई है.. सभी ने एक स्वर में कहा..सर ने टेबल के नीचे से चाय के दो कप निकालकर उसमें की चाय जार में डाली, चाय भी रेत के बीच में स्थित थोडी़ सी जगह में सोख ली गई...प्रोफ़ेसर साहब ने गंभीर आवाज में समझाना शुरु किया - इस काँच की बरनी को तुम लोग अपना जीवन समझो.... टेबल टेनिस की गेंदें सबसे महत्वपूर्ण भाग अर्थात भगवान, परिवार, बच्चे, मित्र, स्वास्थ्य और शौक हैं, छोटे कंकर मतलब तुम्हारी नौकरी, कार, बडा़ मकान आदि हैं, और रेत का मतलब और भी छोटी-छोटी बेकार सी बातें, मनमुटाव, झगडे़ है..अब यदि तुमने काँच की बरनी में सबसे पहले रेत भरी होती तो टेबल टेनिस की गेंदों और कंकरों के लिये जगह ही नहीं बचती, या कंकर भर दिये होते तो गेंदें नहीं भर पाते, रेत जरूर आ सकती थी...ठीक यही बात जीवन पर लागू होती है...यदि तुम छोटी-छोटी बातों के पीछे पडे़ रहोगे और अपनी ऊर्जा उसमें नष्ट करोगे तो तुम्हारे पास मुख्य बातों के लिये अधिक समय नहीं रहेगा... मन के सुख के लिये क्या जरूरी ह? ये तुम्हें तय करना है । अपने बच्चों के साथ खेलो, बगीचे में पानी डालो , सुबह पत्नी के साथ घूमने निकल जाओ, घर के बेकार सामान को बाहर निकाल फ़ेंको, मेडिकल चेक- अप करवाओ..टेबल टेनिस गेंदों की फ़िक्र पहले करो, वही महत्वपूर्ण है... पहले तय करो कि क्या जरूरी है... बाकी सब तो रेत है..छात्र बडे़ ध्यान से सुन रहे थे... अचानक एक ने पूछा, सर लेकिन आपने यह नहीं बताया कि "चाय के दो कप" क्या हैं ?प्रोफ़ेसर मुस्कुराये, बोले.. मैं सोच ही रहा था कि अभी तक ये सवाल किसी ने क्यों नहीं किया... इसका उत्तर यह है कि, जीवन हमें कितना ही परिपूर्ण और संतुष्ट लगे, लेकिन अपने खास मित्र के साथ दो कप चाय पीने की जगह हमेशा होनी चाहिये ।

अपने खास मित्रों और निकट के व्यक्तियों को यह विचार तत्काल बाँट दो..मैंने अभी-अभी यही किया है.. :)

An interesting read on rediff...

Taken from : http://www.rediff.com/money/2008/dec/10mumterror-8-things-india-inc-govt-must-do-against-pakistan.htm

The three-day-long terror strike on the country's financial capital was devastating in terms of its reach and impact. It has left Corporate India badly shaken and the elites numb.

It is no more about bombs being thrown at bus stations or trains getting blasted. It is no longer about only Nagpada or Govindpuri residents losing limbs and lives. Terror has now climbed up the value chain.

As the new age entrepreneur Kiran Majumdar Shaw told a Bangalore newspaper, "So far, the terrorists targeted common people. Now the society's elite, the business sector, is the target. What happened in Mumbai is a loud wake-up call for all of us to do something to protect ourselves."

Corporate India did not bat an eyelid when Mumbai train blasts took place, or when Sarojini Nagar was burning on a Diwali day, or Hyderabad was weeping two years before.

Light a candle for the fallen

Terror strikes at Mumbai's heart

But today, every corporate captain is angry, and so are the celebrities who people Page 3 of newspapers, due largely because the attacks on the three top hotels were directly aimed at those who frequent these places, for business or pleasure (contrast this with the scant coverage of the carnage at the Chhatrapati Shivaji Terminus, for example, where commoners were involved).

All the same, the bleeding-heart liberals would be back to their routine ways after a few days. They will lament that the captured terrorist has not been given his favourite food and not allowed to watch TV or use his cell phone; they will say his human rights are violated. Just wait for the chorus.

Of course, this time it will be between Page 3 and the jholawalas (activists) and that should be an interesting match to watch, but that's another story.

In the last ten years, not a single session of any seminar sponsored by the CII or Ficci or business/general journals has focussed on terrorism. When this writer once broached the importance of talking about it, a senior business captain said it is for the government to deal with.

Many of those seminars gave importance to Musharraf and now Zardari, as if they are going to provide any solution when they are a part of the problem.

Now, at least, terrorism is being realised as a problem facing the country.

Let us summarise what the real situation is and what the corporate sector should do if we are serious in fighting terrorism on our soil.

1. Recognise and treat Pakistan as a terrorist state. The state policy of Pakistan is terrorism and their single-point programme is to destroy India. This needs to be internalised by every business baron including the owners of media.

2. Now, the elite of Pakistan are more angry, since India is growing at 7% and they are given CCC rating and stiff conditions for borrowing from the IMF.

Many an academic from that country, who I have met in global conferences, has openly lamented that nobody talks about Indo-Pak relations anymore, but only Indo-China or Indo-American, etc. They want to be equal but they are in deep abyss.

3. Pakistan is the only territory in the world where an army has a whole country under its control. This is an important issue since studies have found that a large number of corporates in Pakistan are ultimately owned by the Fauji Foundation (FF), Army Welfare Trust (AWT) Bahria Foundation (BF), Shaheen Foundation (SF) all owned by different wings of armed forces (See paper presented by Dr Ayesha Siddiqa-Agha on 'Power, Perks, Prestige And Privileges: Military's Economic Activities In Pakistan' in The International Conference on Soldiers in Business -- Military as an Economic Actor; Jakarta, October 17-19, 2000).

Hence, do not try to think of Pakistan without its army, irrespective of who rules that country temporarily and nominally. At least 70% of the market capitalisation of the Karachi stock exchange is owned by the army and related groups.

4. There are three groups in India, who are obsessed with friendship with Pakistan. One is the oldies born in that part before partition and who are nostalgic about the Lahore havelis, halwas and mujras. The second is the Bollywood and other assorted groups, who look at it as a big market. The Dawood gang has financed enough of these useful idiots. The third is the candle light holding bleeding heart liberals (BHLs) who cannot imagine India doing well without its younger brother taken care of.

All three have been proved wrong hundreds of times, but they are also opinion makers. Shun them, avoid them and ridicule them.

5. We should categorically, unambiguously, unequivocally boycott Pakistan in all aspects for a decade or more. Be it art, music, economy, commerce, or other hand-holding activities. That army-controlled state has to realise that it has done enough damage to global civilisation.

More than 100 acts/attempts of terror recorded in the world since 9/11 have had their roots in Pakistan. More than 40% of the prisoners in Guantanamo are Pakistanis.

6. We should recognise that it is our war and nobody in the world is going to wage it on our behalf. What the Americans are thinking, or what the Britishers are going to do, will not help. A determined country should have a sense of dignity and independence to fight its war.

We should stop interviewing leaders from that country who mouth the same inanities that "you have not produced any proof." The Government of India should perhaps create a museum of proof between India Gate and North Block.

I am amazed that a country of a billion is required even to furnish proof. If one-sixth of humanity says that the terrorist state of Pakistan is the root cause of global terrorism -- it is factual. Let us not fall into the trap of providing proof to the culprits.

7. We should realise that a united Pakistan is a grave threat to the existence of India. Hence, we should do everything possible to break up Pakistan into several units. This is required to be done not only for our interest, but for world peace.

8. We have made a grave blunder by suggesting in the international fora that "Pakistan is also a victim of terror." That is a grave error and it will haunt us for decades. They are perpetrators and our government is in deep illusion if it tries to distinguish between organs of power in that country thinking it is like India.

There is only one organ, namely its army (with ISI as a sub-organ) in that country, which owns and controls at least 70% of the GDP in that country.

If we want the world to treat Pakistan for what it is, then we should start practising it. Always call it the 'terrorist state of Pakistan' and never have any illusion that it is going to be any different.

If corporate India, including electronic/ print media, starts practising this, we should see results in a few years. Are the elites listening?

The author is professor of finance and control, Indian Institute of Management-Bangalore, and can be contacted at vaidya@iimb.ernet.in. The views are personal and do not reflect those of his organisation.

DigitalRev.com : Electronics hardware reviews

I was looking for buying a new handycam and googling for reviews on the products I had in mind.

This site provides nice youtube based video reviews.

Sony Handycams Review - HDR-SR12E, SR11E & SR10E - DigitalRev.com

Blogged with the Flock Browser

How India 'Colonized' Britain - TIME

A very interesting article... :)

How India 'Colonized' Britain - TIME

Blogged with the Flock Browser

Termites feast on Bank Deposit Vault...

From a conventional belief in India (may be elsewhere too), the bank lockers (or vaults if you wish to call them) are the safest possible locations to keep your valuables.

Given the crime rate here and there, the bank lockers have long since been the preferred choice of people to put up savings, especially the jewellary and precious metal collections.

I can very well imagine the plight of Mr Dwarika Prasad, as to how would be feel after losing all of his savings thanks to the negligence of bank employees. And the better part is, they have enough courage to say that they are not responsible ?

Well, if not them, who is responsible for the loss that Mr Prasad has suffered ? I wonder if the corporations are going to improve and own up to their responsibilities, especially when the consequences are as devastating as in this case.

Though, I feel one awkward thing in the story, the fact that he chose to put currency notes inside the bank locker. He must had a very good reason to put currency notes in the locker, given that he's going to lose on value after each passing day.

Hard luck Mr Dwarika Prasad. :(

Termites feast on trader's money:
"'I'm shattered. I do not know what to do as I had kept the money for my old age,' Mr Prasad said."

Timeline : Sub-prime troubles in US

The Sub prime lending troubles in US have been the trigger of quite a few financial issues/situations as we face today.

Here's a timeline of what happened when :

BBC NEWS | Business | Timeline: Sub-prime losses

A BBC news website analysis of the Sub Prime Issue

Global credit crunch, facts and figures