Tuesday, December 06, 2005
India Shining?
India Shining? Remember the slogan coined as a tagline for BJP's re-election? Well, it did not do wonders for that party, but the tagline stuck on and every once in a while it pops up in my head. The Indian economy is booming when compared to the tired and mature US economy. The upbeat attitude and the number of businesses locating to India continues to grow.
I was away from India for 2 months and recently went back for a two week whirlwind trip touring through Bombay, New Delhi and Bangalore. I must confess that the changes taking place in India are mind-boggling at times. If you live there, you probably do not notice the changes, but if you step away and come back the changes are noticeable.
The first thing that I noticed was that the stock market is still going strong. It pierced the 9,000 mark, and everybody seems to be playing the market and are eager to get a demat account (I believe that is the name of the account to trade shares).
The second thing that I noticed was the real estate market is still hot. For instance, in Bangalore apartments are sold the day they are advertised in the newspapers. The demand seems to be outstripping the supply of apartments. Never mind that the infrastructure in the city is still a bit of a problem. The same is true for Delhi and Gurgaon, where the appreciation of property is going through the roof.
The third thing that I noticed was that air travel has become a common phenomenon, and getting tickets is becoming increasingly difficult. The number of airlines has also increased. Kingfisher is now trying to bid for Sahara Airlines, and Spice Jet has taken off, and there are other airlines that provide air services between second-tier cities. Bombay's new domestic airport is fantastic...it is still under construction, but the airport has a look and feel of an international airport. On the other hand, Madras International Airport is very practical looking, complete with green pedestal fans mounted on pillars at regular intervals. Sad to report that the jabber in the airport is no longer interesting and entertaining.
The fourth thing that I noticed was that the quality of Hindi films has probably dropped. They all appear to have the same story line and the same item girl performing in all the films. It looks like Mr. Hashimi (sp?) films have more or less the same story line, and he plays more or less the same character, and there is lot of body contact with the opposite sex. And, most of his films are shot outside India. His latest film was shot in South Korea.
The fifth thing that I noticed is that the Laloo Prasad phenomenon has finally waned. The aloo in the samosa has become stale, and Mr. Prasad is no longer in charge of Bihar. But, don't write off this seasoned politician as yet. I am betting my bottom dollar that he will be back in a couple of years in a better form.
The sixth thing that I noticed is that the number of restaurants opening in India is increasing by the day. Every other day there is a new restaurant opening in Delhi, Bangalore, Bombay or Madras. The latest flavor of the season is Italian food. There is Monza at Phoneix Mills, there is Olive Cafe in Bangalore, there is the Vetro at the Oberoi, Bombay and many more. Eating out is now the done thing for many families in India. Along with the growth of Italian restaurants is the growth of multi-cuisine restaurants. I am always at a loss about multi-cuisine restaurants since I do not know what kind of food to expect in these places. I yearn for restaurants that served only Andhra Food, or Punjabi Food, or Gujarati food...these multi-cuisine restaurants that serve a mish-mash of everyhting from Gobi Manhcurian to Pad Thai with aloo gobi and paratha thrown in for good measure leaves me confused. And, many times the kitchen does not do justice to the Indian food that is served in these restaurants.
These broad observations clearly underscore the fact that the Indian economy is vibrant and growing. Of course, you can arrive at the same conclusion by looking at the traditional metrics like GDP. GNP, etc etc. Word of caution ... there is a flipside to it and that is that the fuel situation can have an adverese and immediate impact on the economy, along with any number of other varibales that are constantly lurking in the background.
There are many other things that I noticed, but more about it later...stay tuned.
I was away from India for 2 months and recently went back for a two week whirlwind trip touring through Bombay, New Delhi and Bangalore. I must confess that the changes taking place in India are mind-boggling at times. If you live there, you probably do not notice the changes, but if you step away and come back the changes are noticeable.
The first thing that I noticed was that the stock market is still going strong. It pierced the 9,000 mark, and everybody seems to be playing the market and are eager to get a demat account (I believe that is the name of the account to trade shares).
The second thing that I noticed was the real estate market is still hot. For instance, in Bangalore apartments are sold the day they are advertised in the newspapers. The demand seems to be outstripping the supply of apartments. Never mind that the infrastructure in the city is still a bit of a problem. The same is true for Delhi and Gurgaon, where the appreciation of property is going through the roof.
The third thing that I noticed was that air travel has become a common phenomenon, and getting tickets is becoming increasingly difficult. The number of airlines has also increased. Kingfisher is now trying to bid for Sahara Airlines, and Spice Jet has taken off, and there are other airlines that provide air services between second-tier cities. Bombay's new domestic airport is fantastic...it is still under construction, but the airport has a look and feel of an international airport. On the other hand, Madras International Airport is very practical looking, complete with green pedestal fans mounted on pillars at regular intervals. Sad to report that the jabber in the airport is no longer interesting and entertaining.
The fourth thing that I noticed was that the quality of Hindi films has probably dropped. They all appear to have the same story line and the same item girl performing in all the films. It looks like Mr. Hashimi (sp?) films have more or less the same story line, and he plays more or less the same character, and there is lot of body contact with the opposite sex. And, most of his films are shot outside India. His latest film was shot in South Korea.
The fifth thing that I noticed is that the Laloo Prasad phenomenon has finally waned. The aloo in the samosa has become stale, and Mr. Prasad is no longer in charge of Bihar. But, don't write off this seasoned politician as yet. I am betting my bottom dollar that he will be back in a couple of years in a better form.
The sixth thing that I noticed is that the number of restaurants opening in India is increasing by the day. Every other day there is a new restaurant opening in Delhi, Bangalore, Bombay or Madras. The latest flavor of the season is Italian food. There is Monza at Phoneix Mills, there is Olive Cafe in Bangalore, there is the Vetro at the Oberoi, Bombay and many more. Eating out is now the done thing for many families in India. Along with the growth of Italian restaurants is the growth of multi-cuisine restaurants. I am always at a loss about multi-cuisine restaurants since I do not know what kind of food to expect in these places. I yearn for restaurants that served only Andhra Food, or Punjabi Food, or Gujarati food...these multi-cuisine restaurants that serve a mish-mash of everyhting from Gobi Manhcurian to Pad Thai with aloo gobi and paratha thrown in for good measure leaves me confused. And, many times the kitchen does not do justice to the Indian food that is served in these restaurants.
These broad observations clearly underscore the fact that the Indian economy is vibrant and growing. Of course, you can arrive at the same conclusion by looking at the traditional metrics like GDP. GNP, etc etc. Word of caution ... there is a flipside to it and that is that the fuel situation can have an adverese and immediate impact on the economy, along with any number of other varibales that are constantly lurking in the background.
There are many other things that I noticed, but more about it later...stay tuned.
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Hey Kamlas
A good account. Am looking forward to experiencing some of this when i go to India at the end of the month. Havent been in two years and am looking forward to the trip.
Also good to see u back in the blogging circuit.
U did go underground for a while !!!
A good account. Am looking forward to experiencing some of this when i go to India at the end of the month. Havent been in two years and am looking forward to the trip.
Also good to see u back in the blogging circuit.
U did go underground for a while !!!
Yes, I know Madras became Chennai and Bombay became Mumbai. But, I grew up in Madras, and my memories are of Bombay. I have a hard time using the new names like many others.
Kamla
Kamla
Arzan thanks for your comments. Yes, I did do my disappearing act. I am actually in your part of the world now....brr it is cold out here!
kamla
kamla
Its time Expat Indians start noticing India more carefully and passionately than just taking into account Airlines, Restaurants, Shopping Malls and such.
What a bore to read NRIs talking about their trip to India.. its all the same thing they repeat over and over again! Each and every one of them.
They seem to notice only those things in India that cater to their western influenced 'comfort' requirements and when these things are there for their enjoyment, they spare no words in expressing their appreciation and admiration for Mother India and her great strides towards modernism!
'You know, India is getting better day by day.. they even got gourmet food and steaks on Airlines for dinner and great wine to go with it too. India is surely getting there!'
Earlier today, I had posted about the Holy Cow - the emblem of India for Westerners. Perhaps we need to designate the growth of Airlines the emblem of New India of the NRIs?
http://jagan.biz/modules/news/article.php?storyid=176
What a bore to read NRIs talking about their trip to India.. its all the same thing they repeat over and over again! Each and every one of them.
They seem to notice only those things in India that cater to their western influenced 'comfort' requirements and when these things are there for their enjoyment, they spare no words in expressing their appreciation and admiration for Mother India and her great strides towards modernism!
'You know, India is getting better day by day.. they even got gourmet food and steaks on Airlines for dinner and great wine to go with it too. India is surely getting there!'
Earlier today, I had posted about the Holy Cow - the emblem of India for Westerners. Perhaps we need to designate the growth of Airlines the emblem of New India of the NRIs?
http://jagan.biz/modules/news/article.php?storyid=176
Jagan
What part of this
If you live there, you probably do not notice the changes, but if you step away and come back the changes are noticeable.
did you not understand.
And have you read other articles on kamlas blog before spewing out an NRI tirade.
And just in case you did not notice all around you, the consumerism that u are complaining about is being lapped up by those who live in India on a day to day basis.
There are more Indians flying domestically than NRI's. There are more Indians eating in restaurant than NRI's.
Its one thing to be critical, but quite the other to have a chip on your shoulder.
Raj
Ever heard of Shakespeare, that old english dude, and his comments about a rose !! Same applies to the name change of cities. Mumbai is a politically backed change. There is no other basis for it. Shit (oops Shiv) Sena, came to power and used this to show that they now had control.
I dont know about Madras so wont comment.
The point is that just changing a name does not do anything. In essence it will always remain Bombay.
Kamlas
You go lady !! yes its damn cold here. Cant ride my motorcycle bcos of the snow and that upsets me...
What part of this
If you live there, you probably do not notice the changes, but if you step away and come back the changes are noticeable.
did you not understand.
And have you read other articles on kamlas blog before spewing out an NRI tirade.
And just in case you did not notice all around you, the consumerism that u are complaining about is being lapped up by those who live in India on a day to day basis.
There are more Indians flying domestically than NRI's. There are more Indians eating in restaurant than NRI's.
Its one thing to be critical, but quite the other to have a chip on your shoulder.
Raj
Ever heard of Shakespeare, that old english dude, and his comments about a rose !! Same applies to the name change of cities. Mumbai is a politically backed change. There is no other basis for it. Shit (oops Shiv) Sena, came to power and used this to show that they now had control.
I dont know about Madras so wont comment.
The point is that just changing a name does not do anything. In essence it will always remain Bombay.
Kamlas
You go lady !! yes its damn cold here. Cant ride my motorcycle bcos of the snow and that upsets me...
And just in case you did not notice all around you, the consumerism that u are complaining about is being lapped up by those who live in India on a day to day basis.
There are more Indians flying domestically than NRI's. There are more Indians eating in restaurant than NRI's.
But no body here in India makes a huge hue and cry over all that.
Except for the NRIs who seem to notice the trivial stuff and make it look as if it was something LEAST EXPECTED in a third world country like India!
Its like saying, 'Look Ma, these Indians have Flights too! and many of them flying.. isn't that wonderful?'. Mother is like, 'Duh, thanks for letting me know Sonny, I couldn't have guessed that myself'!
You missed my point entirely arZan. I was not against consumerism or whatever. Also, This is no tirade. I am just participating in a Discussion where criticisms and opposing views are more necessary than friends leaving Kudos and 'wow, what a post' as comments.
If you live there, you probably do not notice the changes, but if you step away and come back the changes are noticeable.
We can all make out the changes, but its entirely another thing to look at India entirely through a perspective that is resticted to ease of travelling, shopping, movies and food and make a huge issue out of it. Perhaps for NRI's, India is just that and no more?
There are more Indians flying domestically than NRI's. There are more Indians eating in restaurant than NRI's.
But no body here in India makes a huge hue and cry over all that.
Except for the NRIs who seem to notice the trivial stuff and make it look as if it was something LEAST EXPECTED in a third world country like India!
Its like saying, 'Look Ma, these Indians have Flights too! and many of them flying.. isn't that wonderful?'. Mother is like, 'Duh, thanks for letting me know Sonny, I couldn't have guessed that myself'!
You missed my point entirely arZan. I was not against consumerism or whatever. Also, This is no tirade. I am just participating in a Discussion where criticisms and opposing views are more necessary than friends leaving Kudos and 'wow, what a post' as comments.
If you live there, you probably do not notice the changes, but if you step away and come back the changes are noticeable.
We can all make out the changes, but its entirely another thing to look at India entirely through a perspective that is resticted to ease of travelling, shopping, movies and food and make a huge issue out of it. Perhaps for NRI's, India is just that and no more?
Jagan
Obviously if you are experiencing things on a daily basis, you are not going to comment on it daily. Am sure the first time u went to a mall or a foreign goods store in India, you went and told a lot of friends about it, either as a brag or as an observation or a pleasant surprise kinda thing. But after that it became something that u do everyday.....not literally.
On the other hand, an NRI who returns after a period of time, it is the first time they may be experiencing something in India, which was not there the last time they were around. So then, whats wrong in experiencing that.
It also has to do with age. If you grew up as a teenager in the 80's DD was the only thing u ever watched. In that scenario, you will always be surprised to see so many different channels. If you grew up as a teenager in the 90's you took multiple channels for granted.
The same reasoning is on for so many different material goods and things.
I dont know kamlas age (and will not even warrant a guess.....lest she thrash me in Union Square if I ever bump into her here) but if she grew up at a time when there was just one domestic airline, and flying domestically was something only the super rich did, the whole explosion of air travel is always going to be something that is goign to fascinate her.
I still dont understand, why you begrudge an NRI, their right to make an observation. Its just an observation, and not a diktat.
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Obviously if you are experiencing things on a daily basis, you are not going to comment on it daily. Am sure the first time u went to a mall or a foreign goods store in India, you went and told a lot of friends about it, either as a brag or as an observation or a pleasant surprise kinda thing. But after that it became something that u do everyday.....not literally.
On the other hand, an NRI who returns after a period of time, it is the first time they may be experiencing something in India, which was not there the last time they were around. So then, whats wrong in experiencing that.
It also has to do with age. If you grew up as a teenager in the 80's DD was the only thing u ever watched. In that scenario, you will always be surprised to see so many different channels. If you grew up as a teenager in the 90's you took multiple channels for granted.
The same reasoning is on for so many different material goods and things.
I dont know kamlas age (and will not even warrant a guess.....lest she thrash me in Union Square if I ever bump into her here) but if she grew up at a time when there was just one domestic airline, and flying domestically was something only the super rich did, the whole explosion of air travel is always going to be something that is goign to fascinate her.
I still dont understand, why you begrudge an NRI, their right to make an observation. Its just an observation, and not a diktat.
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