Perhaps India did need a blow-out on a scale like Satyam to bring home the painful reality of the generally rotten state of corporate governance and the vicious promoter-politician nexus endemic across different sectors of the economy, says Arvind Singhal.
Many national and international seminars have been conducted to highlight this hitherto undiscovered gold-mine. Any challenge to the business rationale for pursuing such a market is considered heretical and almost blasphemous.
We should all use this opportunity to cleanse ourselves of the excesses and the sins of omission we have all been guilty of.
The Iraq war marked the onset of high and higher oil prices. There was a steady rise in the prices of most commodities in the global markets including metals and food in the last three years for various reasons including substantially increased consumption in new markets such as China, Russia, India and West Asia. However, till recently, most economies were able to manage such price escalations through classic macro-economic management tools.
With the changing economic scenario, the political and bureaucratic stance in India ought to change too.
A Nano-like mission to provide good-quality, good-performance has the power to make an incredible positive impact on the Indian economy.
Against a world average of 3.96 hospital beds per 1,000 population, Russia has 9.7, Brazil has 2.6, China has 2.2, and India languishes at just over 0.7. The deficiency is appalling on a similar scale when one compares the norms versus the actual for doctors and nurses.
Mukesh Ambani-controlled Reliance companies' market cap now exceeds $100 billion (as also Arcelor Mittal's). The new generation winners operate in a myriad sectors, including telecom, commodities such as steel and cement.
Why some of these stars of yesteryear are 'yesterday' today or why the leaders in their home markets outside India are laggards or failures (so far) in India? I can spot seven distinct genres of these underperformers.
For most of this present decade, IT firms in India were at the forefront of distorting the compensation structure.
The government must urgently clean up the cobwebs of misdirected ideology relating to health insurance
The economic benefits of a modern, efficient retail system have been internationally well-documented and well-reported in India. Yes, the government continues to takes one slow step forward only to retrace and go back two, writes Arvind Singhal.
India has been experiencing a different kind of 'environmental warming' phenomenon in the last few years. This has to do with the fever that sets in the millions of parents and their school-going children at the onset of January each year.
As developments in modern retail begin to live up to the hype, a number of conflicts have started to emerge.
How nice it would be to see public morchas, fasts, bandhs and letters to the Prime Minister or the chief ministers to reflect and act on some of these matters too!
What can international luxury goods and services marketers do to stimulate desire and capture the now rapidly increasing spending potential of the very affluent in India?
I am, like other Indians, justifiably proud of the economic progress made in 2006 and in the newfound confidence and aggression of our business leaders, who are now thinking big and thinking global.
Practising and encouraging creative thinking so that the collective power of tens (if not hundreds) of millions of original thinkers and practitioners can transform India beyond imagination.
Middle-class Indian consumers should, of course, sit back and watch the action on the shop floor.
An acknowledgment of some peculiar-to-India ground realities would be quite pragmatic and therefore ambition should be tempered with some patience
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