DAVOS SPECIAL: RECESSION WINNERS

The Boom From The Bottom

Isolated from world trends, India's aspiring poor will help it grow through the credit storm.

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  • Posted By: MichaelX @ 11/17/2009 10:55:28 AM

    "Oh, I am very happy to be giving you tech support. Pllease give me your information so I can send you to someone who will ask it again" . I immedeately hang up the monent I hear an eastern voice. It's good they are coming out of the dark ages, but to what end? To become another china? To eschew the western idealism by emulating it? Your religeous beliefs doom you.

  • Posted By: audiq7 @ 11/16/2009 10:57:07 AM

    I must add that India's success is contingent upon eliminating Islamist/communist terror and rejection of caste/religious/regional disparities by it's people. Barbaric/primitive men like andy21 will keep showing up in a thoroughly 'modern' avatar (to hide their inferiority complex) and think they can fool the world. Much better human beings are my uneducated servants in India who just want their daughter to get a good education/job so she can make her life any way she sees fit.

    The truth is that while the modern cities and market places in most towns are free from casteist transactions , marriages and family related plans do revolve around people of similar locations and tastes.Casteism is every where in this world but in India it is not so bad or violent, considering that reforms were initiated by visionaries from the high castes"

    What are these full of crap sentences? He thinks he sounds very sophisticated. "Casteist transactions" is a new word as I have not heard of it anywhere. He will also not care to explain what he means by "similar tastes". Lifestyle itself of all Hindus is the same, be it clothing, food, practice of religion. But of course there are some primitive, narrow-minded people like yourself, who like to 'project superiority' of their last name or particular community and so obviously marry within a small structure. They have little self-esteem, intellect or goodness inherent so there is no way for them to understand that marriage within caste provides no guarantee of "similar taste". It does not guarantee that this person of my caste will be sincere towards me, or take care of me happily if God forbid I become physically handicapped. My definition of "similar taste" is two people developing emotionally/spiritually together, having the ability to bring out the best in the other person. This is not a standard definition of "similar taste" for most people who do not look beyond immediate instant gratification and that usually means material benefits. These same people are more likely to visit brothels, have secret extra-marital affairs once bored with their spouses. Here I am referring to both eastern/western cultures as I believe human beings have similar mentality, and research has also proven this to be true.

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  • Posted By: audiq7 @ 11/16/2009 10:55:35 AM

    Real estate market in India is not some bubble that will burst, it is fuelled by an ever expanding manufacturing and industrial sector and improvement in infrastructure by the Government of India. Also our organized /unorganized retail market is projected to grow 20% annually. The Indian economy was growing at 8.75% from 2004, till the worldwide meltdown happened in 2008, bringing down the sensex. It will return to 10% growth rate in about 2-3 yrs because Indian savings rate is 35% of the GDP. The stock market has risen by over 50% this year, and demand for domestic consumer goods has picked up again. India is not a "export powerhouse" like China as yet because we don't provide artificial concessions to exporters that are unsustainable in the long term. India was one of the first countries to pass the economic stimulus package, which we are now replacing with another set of economic reforms (possibly labour too) this December. The range of products from automobiles to sophisticated electronic gadgets and household items is INCOMPARABLE to the STAGNANT markets of USA and Europe where creativity means creating demand/markets for over-priced goods/services. USA's only advantage is that it's a new country cut off from the world, with a favorable people to land ratio.

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  • Posted By: LazyEyes @ 01/20/2009 9:53:37 PM

    The article has a lot of good points and India has a lot of room for growth. However it is inevitable that India must be weary that it will eventually enter the global market. If it hopes to expand beyond a regional and transition to a global player it must expand outside its borders. When that happens its 'insulation' will fade away...

  • Posted By: rajkumar0 @ 01/15/2009 10:49:18 AM

    One comment regarding India not having Real estate bust. In entire India, villages to metros like Mumbai, Delhi real estate deal require approx 40-60 percent in black i.e. in cash which ofcourse means loan of only about 50 % of the amount. So the bank exposure is thus correspondingly less.

    Shresth, Mumbai

  • Posted By: Thrivikramji @ 01/14/2009 2:30:51 AM

    We in India need to build large number of school buildings as well as roads and highways asa part of the stimulus package
    Dr. Thrivikramji, Trivanderum

  • Posted By: parinchawda @ 01/13/2009 3:29:56 PM

    the only thing now that is required that the govt ensures the effective implementation of the pending projects and needs to instill confidence into the minds of the people regarding the availability of credit.

  • Posted By: parinchawda @ 01/13/2009 3:28:13 PM

    The thing that is required is now that the govt. promotes the implementation of these projects and also helps in improving the sentiments and clearing any scepticisms that the people have in mind regarding the availability of credit.

  • Posted By: lovejusticepeace @ 01/13/2009 4:35:00 AM

    How about searching the offices and homes of politicians in Andhra Pradesh involved in the Satyam scandal ?
    This is a politician-businessman nexus to defraud the nation and the world.

  • Posted By: tommyjonq @ 01/12/2009 9:46:08 AM

    what will china do when india Does muscle its way into the global market? when the u.s. no longer mortgages its entire economy to cheap chinese imports? when obama-style facebook emperors start running against the communist party? when hillary starts waving bill's donor list all over tiananmen square? liebgerman uber alles!

    http://politiqs.tommyjonq.com

  • Posted By: amit64 @ 01/11/2009 1:18:13 AM

    "a change in government would likely result in some further slowing of infrastructure projects that are already running behind schedule"

    To address this apprehension, there is no danger of this happening if a BJP-led government takes office. The infrastructure projects like the roads program are showcase projects started by the previous BJP-led NDA government. If anything, a BJP-led government taking office will mean a speed up in infrastructure projects. There is a danger that the Congress-led UPA or another coalition takes office, in which case infrastructure projects will fall behind schedule like they have done now.

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