Tough Times dont Last, but Tough People Do

I explored a wide range of issues around. But each time I gathered my thoughts, I was somehow reminded about the indispensible role of the current crisis in our lives.

I hope to do justice to my creation and take the liberty to expect my readers to provide the response, encouraging enough to keep expressing my perspectives through many such blogs in the future.

So here is my first blog

“Tough Times Don’t Last, but Tough People Do”

Wow...This infuses the much needed optimism in these times of crisis. Or is there a crisis at all?

The past one year has been a roller-coaster ride. The global economic scenario has witnessed a complete turmoil. We have been witness to the collapse of some of the finest banking institutes of our times. Job cuts, Freezing or absconding pay packets, cash crunch, declining consumption...

Terrifying jargons! Is the world economy creeping towards a future that is bleak?

The current downturn has in one or more ways filled the globe with absolute cynicism.

Where does my Bharat lie amid this turbulence? Is it completely safe or is it staring at the crisis. The Countries around the globe catch a cold when USA sneezes, should I believe that India is one of them.

Whether or not in crisis, I believe that this slowdown is or rather can be a blessing in disguise for the 1.1 billion population of the country. Time & Again we have seen world renowned astrologists predict the rise of a new superpower from Asia. Is the present generation going to be the august audience to this phenomenal feat? I know, that this target is far fetched but cannot be shunned either. With a strong population and a high consumption potential, India has emerged as one of the most dynamic and promising economies in the world. The humungous population of the country and its consumption journey has fuelled a ray of hope amid this volatility.

The Factors that work in India’s Favour:

The Indian Middle Class: This Segment consists of a population of approximately 300million with a growing purchasing power. A drive towards quality consumption and a penchant for better standards of living, this segment carries the baton of Indian hope. It is this very segment that puts India as the youngest country (demographically) on the world map. One of the shields against this slowdown is to boost domestic consumption. Healthy consumption patterns can alone trigger growth in the country.

Consumption will take care of slump in Exports: The Indian Economy is fortunate enough that as compared to other huge economies of the world like china, its economy is not completely dependent on exports. Exports are a key element in any country’s economy, but excessive dependence on the same may act as a drawback, especially at such times of crisis. Thus the domestic consumption story of India will further thwart the threat of slowing exports.

The Indian Conservative approach: The Indian government has always believed and encouraged in the theme of free enterprise. It has never advocated monopoly in any form and has ensured a healthy competitive environment among the public and private enterprises. Amid this liberty it has always charted out policies and procedures that govern the proceedings of its industries.

The Indian Government, keeping in line with the Indian culture and psyche has followed a conservative approach towards its growth and risk taking abilities. Ahlas! The Indian banks consecutively don’t flaunt a leverage ratio of 1:100 as in case of other reputed ones around the globe. The Indian banks under the guidance of our cautious policy makers still are registering a positive growth.

Provide a base to sustain Future Growth: One of the biggest hindrances towards the Indian growth march has been the tremendous lack of infrastructure. Ruined roads, Overcrowded railway stations and Chaotic Airports, India continues to lack quality infrastructure. Investing in Massive Infrastructure projects will serve the much needed base to sustain future growth opportunities for the country. Uttar Pradesh, for instance is undergoing a colossal infrastructural progress.

The Ganga & Yamuna Expressways are considered to take shape as one of the most remarkable works of Indian Engineering till date. These projects are huge in terms of investments, employable manpower and the utility of resources required. With a 50,000 cr and 10,000 cr rupees of funding respectively, these projects are expected to change the way India looks at its infrastructure needs. Such projects should be given top priority and should meet its set timelines irrespective of the powers at the center.

I do agree that it would be juvenile to claim that India has been unaffected by the global crisis, but considering it to be at the midst of it would also be too pessimistic.

If India interprets the current crisis and its hidden implications, the problems can be converted into a goldmine of opportunities. Will the government demonstrate vigilance and enthusiasm to explore this goldmine? Will Policy makers start placing the interests of the country ahead of its personal benefits? Will India launch itself as the strongest economy of the world?

Time Alone will answer these questions.