A lot has been written and will be written about the state of the Indian economy and how corporate dreams are going sour. GDP growth has slowed down from the heady 8-9% to the pathetic 5s. Shocking industrial production growth numbers, high inflation, a depreciating currency, reforms, tax policies, all seem to be hurting India. Many “pundits” and soothsayers, unfortunately, have chosen the path of declaring doom and gloom.
I cannot blame the bears. As they say, numbers speak louder than words. Apart from the growing middle class, all the numbers seem pretty scary! But, is it fair to re-paint the India story from boom to bust because of a few quarters of challenging numbers or because of the current state of the polity? It is a real fact that when there is a coalition Government, the ruling party cannot have it’s way all the way. The country voted and chose the structure of the government the way it exists. In a democracy, the will of the people must and will prevail. Again, is it fair to look at a country in terms of the Earnings per Citizen (EPC) on a quarterly basis and declare success or failure? It is a good point of discussion and debate and I welcome your thoughts.