World's fastest growing economy,projected to be on top by 2050,4th largest for now(in terms of PPP),expected to beat japan and become no.3 by 2015,beat U.S by 2040 and finally China by 2050,too much for a country with 1.18 billion people and 22% living below poverty line!!!
We call it the Great Indian Supermarket,now pretty obviously,the more the number of consumers,the more prosperous the market will be,but what about 22% still living below poverty line???...most will say who cares??? 78% of 1.18 billion are more than enough to make any businessman the richest on planet earth and that as a matter of fact is true,this feels and sounds healthy for Indian economic growth but make no mistake here,its not so sustainable!
The purchasing power of Indian assemblage has gained bountifully since the last decade and what contributed to it most generoulsy was our service industries and ascend of several new and robust enterpreneurs,the enterpreneurship fashion is indeed the best thing that has ever happened to Indian economy in all of its history and it continues to show ruggedness and potential,talking about the other component contributing towards purchasing power of masses is service industries and to be precise IT industries,more than one lakh people join Indian IT industries every year as freshers,some stay,many leave,many others join as experienced professionals and so so,now as we know India produces almost a million engineers every year,most of which are accomodated here,be it any stream or course,so clearly this very industry is providing a great mass with a decent purchasing power,why I didn't call it sustainable,we shall unfold as we advance.
When I call the term SuperMarket what strikes the mind at first thought is shopping malls and shopping complexes and I believe that every human being is acquainted with them nowadays,and as a matter of fact all of us visit a shopping mall atleast once a week,mostly we prefer a shopping mall when we need to buy a dress or some electronic gadget and for dining ofcourse,movies are complimentary,let us suppose that we need to buy a dress and so we go to a shopping mall,now we look for our favourite brand,many will go for Levi's,pepe jeans,provogue,nike,adidas,reebok and so on,what is common among all these brands is that they are exotic and they make handsome income out of Indian population,you go on and buy an iPhone for $500 which you could get for $99 in U.S or similarly a Blackberry or other fancy gadgets at five times their actual price,so don't you think we are overpaying for everything???
Returning back to the sustainability factor,those who work in service industries have their clients sitting somewhere in U.S and other european countries,they outsource their work here lured by cheap labour and they underpay Indians also as compared to their American counterparts but still it is not so bad as far as Indian lifestyle and 7.8% of unemployment rate is concerned,whatever money they pay the Indians,Indians spend on buying their products,this huge population is acting as a channel to amplify the power of their money and returning it back to them,they make Indians do work worth billions for millions and then sell them merchandise worth hundreds for thousands,how smart is that!!! and in the process the Indian government makes some money which they will spend on buying chartered planes and BMW cars for their ministers and politicians,the irony of situation is that its not just the Americans who are robbing people here,its more of our own leaders,if you look at the income tax structure and deductions on your salary slip it won't be difficult for you to acknowledge my point,you would pay some 10-30% income tax,if you happen to travel on a toll road you will pay toll tax everytime you cross it,you would pay professional tax,you would pay parking charges,I don't understand why we call ourselves a free country when we have to pay for everythin we use,you would buy petrol at rs.60/litre when people in countries like pakistan could buy it for Rs.25/litre,if nothing else,this is embarrasing!!!
The subjects which creates biggest tides in Indian political houses are Babri masjid verdict and inflation,considering the former to be out of equation for now,the factor deciding who will hold the highest office in India will be inflation,but unfortunatly due to the lack of any other political challange for now our current government is so not perturbed about inflation,our prime minister openly says "we cannot do anything about inflation" and I say what the hell are doing as prime minister then?,if you are so incapable let someone else do it.You would leave thousand tonnes of food grains to rot in rain and say its not your fault,you would spend crores of rupees on fugitives per day and say that you don't have money to control inflation,like foriegn investors see India as a supermarket to sell their products,these politicians see Indians as vote supermarkets,they earn votes by selling lies and then sit back relax for five years while their kitty is being filled by the hard earned money of Indian people and moreover they always have public rights like 2G spectrum to sell to rich business people for their own good,how does it matter to them if country loses $38.27 billion,what matters to them is they earn enough billions to support their next seven generations,its high time that we take a stand like that of egypt and libya,its high time we have these people realize we are more than a supermarket,its high time we start earning for ourselves and not to generate profit for people who take us for a fool and treat us below the belt,its high time we punch them in the face and say ENOUGH!...