25 October, 2020

A Richness Inside

One more metaphor to live by—democracy is good for business

Sandeep Adhwaryu
A Richness Inside
I remember when I was the president of CII, way back in 2003 when GDP growth was still loitering at levels of lower than 6 per cent, my job—weird as it may now sound—was to talk up the economy. I remember telling the finance minister that growth was "bubbling under". I suppose now I can truly say that growth is "frothing up". At that time, capital expenditure and credit offtake was beginning to ramp up, and we were talking about competing with China, but the reality of infrastructure and growth did not match up to our claims. So I would tell investors to focus on the important change in our ‘mindscape’ rather than in our physical landscape; that unlike in Shanghai, the skyscrapers were being built in our minds, and that brick and mortar ones would follow.

I think the transformation of our mindsets was first triggered by the IT industry, whose impact on our global brand equity altered our perception of ourselves. The successful and audacious adventures of global Indians further raised our ambitions. The proliferation of Indian media...



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