And for a Friday returning from smoggy foggy New Delhi, some thoughts….. some musings…..
For a Mumbaikar like me, Delhi is now a far off destination. It’s a reminder of the classic Mumbai vs Delhi debate. Delhi with the PMO, all the Central Ministries, ED and CBI, Lutyens Delhi is no doubt the epicentre of the political power of the country. But then Mumbai is the commercial capital. Almost every big business house, banks and fintech are headquartered. Corporate India is Mumbai contributing more than a third of the total direct taxes, the big money generated thru the BSE and NSE and keeping the wheels of the Economy running. In the past, the Mumbaikars would concede Delhi had better connectivity, better roads, well networked Metro etc. etc. But now, no longer. The Mumbaikars are busy with coastal road, the underground metro – Cuffe Parade to Andheri and the Atal Setu Trans harbour link. Pune is just 90 minutes away. So Delhi move over, Mumbai is here.
Ease of doing business in India has gone thru a sea change. Gone are the days when corporates were totally subjugated to the whims of the Babus of Delhi. In the pseudo socialist days, license permit raj meant every corporate chief had to be visiting Delhi for all kinds of permits, quotas and approvals. We have come a long way. At Delhi and state capitals, lots have changed for the better. Competition between states to attract capital and roles played by the private and tech sectors in boosting the economy and job markets are well recognised. The goal of making the country the third largest economy in the world has taken deep roots. It’s a huge positive, now felt as much in Delhi as in Mumbai and every state capital, irrespective of the political dispensation in power.
In the uncertainties of the post Covid world and with unprecedented global inflation, India stands as an oasis of growth and stability. Let’s pursue the economic success, the dependable way, the honest way, the SEEGOS way.