And for a Friday as the Adani group is again brought centre stage in Indian and carefully selected international media, some thoughts….. some musings…..
With more than five decades in the Indian corporate sector, I see the multitude of challenges that the country will have to face as we emerge out of the dungeons of a developing economy to being the third largest, behind US and China, at 4.11 Trn $s, we will get ahead of Japan, 4.29 and Germany 4.73 Trn $s in the next three years if we maintain our 7% + net GDP growth rates. In the changing Geo-politico-societal world order, India is best placed as we have the capacity to absorb capital from the world and a Consumption Economy at multiple value levels. The 150 mn BPL level, 750 mn middle class at mixed levels and the 20 mn and fast growing Super Rich, offers the world an exciting market. India is now an ikon for the developing countries. The Global South is also a huge growth opportunity. But to encash this opportunity we need a mind set change. The Politicians, Corporates, Entrepreneurs, Bureaucracy and Media need to share the dream to make India a Developed nation. India’s time is now.
Adanis are in the spotlight. But they are just one of the many industrial families who are being unleashed by the growing opportunities. Ambanis, Birlas, Tatas, Mahindras, Munjals, TVS, Murugappa, Bajajs, Goenkas, Yusuf Ali’s, Kirloskars, Khaitans, Nadars, Lalbhais, Premjis, Godrejs, Mariwalas, the list is large and growing. Indian entrepreneurs need support from the country when they venture abroad. Let us learn from the Chaebols of Korea and Zaibatsus of Japan. Every country subtly encourages “Guided Capitalism” wherein Governments provide an umbrella support for companies venturing abroad. The Chaebols like Samsung, LG and Hyundai and Japanese grew because of the close relationships of their Govts to get foreign loans, market access and special favours. Every country does it. Every head of State visit into India is accompanied by a delegation of business chiefs who have business interest in India. It’s common practice of the free market and developed economies.
India as the largest and fastest growing democracy will face headwinds. Let us all support growth of our companies abroad, the legal way, the sustainable way, the SEEGOS way.