Comment Re:As Someone who just came back from India... (Score 1) 568
That is right on the dot! And one of the best analyses I've seen in a long time.
I'm an Indian working for the High-tech arena in the States. Allow me add my two cents to this discussion. I've presented a the discussion with comparisons to the US references, so that it makes more sense to the majority to readership -
The Things that say there's going to be good music tomorrow morning -
1. Perfect observation on the education system. I've often heard the cries of (very educated and enlightened) Indians about the uselessness of Education system that is propagated in India. But, believe me when I say that the competitiveness index to get into one of the better schools (Esp. professional education schools) is among the TOUGHEST I've seen anywhere in the world. The education system highlights competition in the most aggressive form and that shows when engineers and doctors from these schools work their way in the world. (Wishful thinking - If even an iota of this was visible in the entrepreneurship domain, there would be many truly global business houses based of India today).
2. A truly global economy is building up today. It's not just the knowledge industry that serves as an outlet to this, but also niches in manufacturing and also the burgeoning import market that the country is propagating.
3. The most successful expatriate population in the world (I know the industrious Chinese are not to be discounted in any manner, but when I must add - with all due respect - that there is an element of state persecution that had many Chinese emigrate. Indians did it purely for economic reasons - long term benefits on personal bank accounts and inward remittances to the country would show up).
4. Last, but not the least, the key word - D E M O C R A C Y (that's a fav word on many media channels nowadays!: ) ). Maturity of the Indian democracy is truly amazing (Remember ladies and gentlemen, Indians have had just over 50 years of experience in the domain as compared to a much longer democratic history of the United Sates). Should an investor be worried that the state would tomorrow decide all of a sudden to promulgate a negative policy? The answer is no. Indian political system, despite all its grave misgivings, ensures a great leveler - the vote. Any decision that has a negative impact on inward investment (and consequently on the local economic situation) would show up as a vote sooner or later in the ballot box. If there's anyone who didn't know this, recent Indian elections presented a ballot where an Italian born woman could have been the Prime Minister of a nation with a billion (non-Italian born!) Indians. And no - unlike the US, India has never even been an immigrant nation in modern history! Some call it demeaning or even self-defeating attitude, but I call it acceptance at its height. Maturity of the democratic process can reach no greater heights (never mind the personal irk I had with the results!: ) )
The Things that say there's going to be loud crashes tonite -
1. If there's one arena where India truly lacks the strategic thought that is the infrastructure. There's ample reason - traditionally Indian governments have been run (and brought down) on a variety if issues, efficiency has never been one of them. Whenever there is innovation, individuals who had true entrepreneurship spirit capitalized and moved ahead. Governments have to be conducive to this process (The United States is a perfect example). This is totally lacking in the Indian context. But, it doesn't take much to change this. As I said before, it's just an issue of awareness - and it could be as near as the next ballot.
2. War. It's a bad word, as most sane people would agree round the world. But in the modern day context, war does not always mean mobilization of nukes and tanks - it means an attack on the sense of security of the general public. The act of terrorism serves to affect economic situation anywhere on the planet. Military action always does not answer the bigger question of prevention. If there's any American lawmaker reading this - remember, time and again it's been proved short term military advantages DO NOT add up to a secure future. If there have been two like minded countries that should have been allies in the truest sense of words and still grappling at what kind of relationship they should have - look no farther than the Indian - American relationship over the last half century.
3. Grass-root action is totally lacking. The American democratic process ensured that development was made all round for the nation at the small town in Idaho to Manhattan. The Chinese have a really big dragon staring at them when the disproportionate development of cities vis-à-vis small towns becomes more acute. And sadly, India is taking the same route. But, as I said the vote is a great leveler. Case in point - concentrated development on cities (like the last Indian government projected) leads to ouster from power.
4. Leadership. It's amazing that a nation with a strong political movement history is so totally lacking of political leadership with an agenda to move ahead (Though there are many who say the same about the US today! But the collective political will in the States is the *strongest* on the planet). A company without a strong successful CEO will have its stock dumped on the market (Sorry HP!).
Also there's another factor, which comes neither on the 'loud crash' nor on the 'good music' list. American ingenuity is built around the ability to attract the best talent from around the planet to contribute positively to the economic development of the nation. But, post Sep 11 realities have changed a lot of that. Are there many who would have wanted to come to the US, but were either blocked owing to the visa/ security delays? Answer is an overwhelming yes! The talent has looked for avenues elsewhere in the world and locally - I've personally known many such instances. I don't know if there is a positive impact of this on either of the nations involved, but I'm sure there's a small negative impact on the world economy. The manner in which world economy is today built, *needs* a progressive US economy to have positive impact worldwide. Anything that changes that - be a $500 billion deficit or a law which makes inward flow of talent more difficult - is negative.
Knowledge 'superpower' or not - time will tell. But, sensible positive development (and this I mean pan nation) has to be thought of today.
I'm an Indian working for the High-tech arena in the States. Allow me add my two cents to this discussion. I've presented a the discussion with comparisons to the US references, so that it makes more sense to the majority to readership -
The Things that say there's going to be good music tomorrow morning -
1. Perfect observation on the education system. I've often heard the cries of (very educated and enlightened) Indians about the uselessness of Education system that is propagated in India. But, believe me when I say that the competitiveness index to get into one of the better schools (Esp. professional education schools) is among the TOUGHEST I've seen anywhere in the world. The education system highlights competition in the most aggressive form and that shows when engineers and doctors from these schools work their way in the world. (Wishful thinking - If even an iota of this was visible in the entrepreneurship domain, there would be many truly global business houses based of India today).
2. A truly global economy is building up today. It's not just the knowledge industry that serves as an outlet to this, but also niches in manufacturing and also the burgeoning import market that the country is propagating.
3. The most successful expatriate population in the world (I know the industrious Chinese are not to be discounted in any manner, but when I must add - with all due respect - that there is an element of state persecution that had many Chinese emigrate. Indians did it purely for economic reasons - long term benefits on personal bank accounts and inward remittances to the country would show up).
4. Last, but not the least, the key word - D E M O C R A C Y (that's a fav word on many media channels nowadays!: ) ). Maturity of the Indian democracy is truly amazing (Remember ladies and gentlemen, Indians have had just over 50 years of experience in the domain as compared to a much longer democratic history of the United Sates). Should an investor be worried that the state would tomorrow decide all of a sudden to promulgate a negative policy? The answer is no. Indian political system, despite all its grave misgivings, ensures a great leveler - the vote. Any decision that has a negative impact on inward investment (and consequently on the local economic situation) would show up as a vote sooner or later in the ballot box. If there's anyone who didn't know this, recent Indian elections presented a ballot where an Italian born woman could have been the Prime Minister of a nation with a billion (non-Italian born!) Indians. And no - unlike the US, India has never even been an immigrant nation in modern history! Some call it demeaning or even self-defeating attitude, but I call it acceptance at its height. Maturity of the democratic process can reach no greater heights (never mind the personal irk I had with the results!: ) )
The Things that say there's going to be loud crashes tonite -
1. If there's one arena where India truly lacks the strategic thought that is the infrastructure. There's ample reason - traditionally Indian governments have been run (and brought down) on a variety if issues, efficiency has never been one of them. Whenever there is innovation, individuals who had true entrepreneurship spirit capitalized and moved ahead. Governments have to be conducive to this process (The United States is a perfect example). This is totally lacking in the Indian context. But, it doesn't take much to change this. As I said before, it's just an issue of awareness - and it could be as near as the next ballot.
2. War. It's a bad word, as most sane people would agree round the world. But in the modern day context, war does not always mean mobilization of nukes and tanks - it means an attack on the sense of security of the general public. The act of terrorism serves to affect economic situation anywhere on the planet. Military action always does not answer the bigger question of prevention. If there's any American lawmaker reading this - remember, time and again it's been proved short term military advantages DO NOT add up to a secure future. If there have been two like minded countries that should have been allies in the truest sense of words and still grappling at what kind of relationship they should have - look no farther than the Indian - American relationship over the last half century.
3. Grass-root action is totally lacking. The American democratic process ensured that development was made all round for the nation at the small town in Idaho to Manhattan. The Chinese have a really big dragon staring at them when the disproportionate development of cities vis-à-vis small towns becomes more acute. And sadly, India is taking the same route. But, as I said the vote is a great leveler. Case in point - concentrated development on cities (like the last Indian government projected) leads to ouster from power.
4. Leadership. It's amazing that a nation with a strong political movement history is so totally lacking of political leadership with an agenda to move ahead (Though there are many who say the same about the US today! But the collective political will in the States is the *strongest* on the planet). A company without a strong successful CEO will have its stock dumped on the market (Sorry HP!).
Also there's another factor, which comes neither on the 'loud crash' nor on the 'good music' list. American ingenuity is built around the ability to attract the best talent from around the planet to contribute positively to the economic development of the nation. But, post Sep 11 realities have changed a lot of that. Are there many who would have wanted to come to the US, but were either blocked owing to the visa/ security delays? Answer is an overwhelming yes! The talent has looked for avenues elsewhere in the world and locally - I've personally known many such instances. I don't know if there is a positive impact of this on either of the nations involved, but I'm sure there's a small negative impact on the world economy. The manner in which world economy is today built, *needs* a progressive US economy to have positive impact worldwide. Anything that changes that - be a $500 billion deficit or a law which makes inward flow of talent more difficult - is negative.
Knowledge 'superpower' or not - time will tell. But, sensible positive development (and this I mean pan nation) has to be thought of today.
