What is the best case scenario for a person who takes up a
challenge and fails in it? ‘Inventing ‘ a reason or an excuse which can be told
to others and make others convince that problem happened only because of it,
not because of person’s inability.
India embraced Globalization in 1991, which seemed to be the
best choice at that time. But now, 20 years down the line, we need to analyze
the situation. Five hundred years back,
when a king used you rule the a province, destiny of entire region was decided
by the King. If he was good, place got prospered and reached great heights and
vice versa. We know some great kings who did well for their people and some
devils who never cared their people. Later, in 1947 , we
became a democratic country, which have 543 MPs. So, the situation was like ,
for the country to develop atleast 543 people needed to be good. And if they were
bad, country would never develop. And now, look at the present scenario.
Our country has Industries. We have employees. We have
machines. But , are we getting any development? IIP data showed just 0.7 %
growth, which had never happened even during the recession time of 2008. For
this , finance ministry has a ‘very good’ excuse. Situation in Greece is
getting worse. So , today, the situation is like , not only Indians need to be
good, but entire world need to be good for our economy to develop. Two years
back, Indian stock exchange was just depending on Shanghai market . If Shanghai
perform well, NSE also perform well for the day. Today, we are looking to what
is happening in Europe. If Greece worked well, India too would. Tomorrow,
Greece may become fine, but then another country may be under recession. And
that too will be going to affect India. Is this what globalization is all
about?
None of our government which came after 1991, took any measures for
making ourselves prepare for the tough challenges of Globalization. Today ,we
proudly say that we are going to be strong nation by 2020 or 2025. But how? Our’s
is a country which has more than 5 percent fiscal deficit. Huge amount of money
need to be given as subsidy. And still many farmers are committing suicide as
they can’t find a market for their product.And government is saying that all
these issues are because of Greece!!! How easy it is to put blame on other countries without monitoring our own finance policy well!! If it is because of Greece, who is
responsible our dependency to Greece? If Greece continue to remain like this
for next 20 years,do we Indians also need to live like this for 20 years? 20
years down the line what we have presently is 5.5 percent GDP growth and almost
a two digit inflation. But still we are boasting that we will be a big power by
2025.
Globalization, in a
perfect market where there is enough infrastructure and other facilities can
bring huge development. But , for a financially immature country like India, it
just created more dependency to west , than creating a self sufficiency. We
accepted it, at a time when we had no potential to compete against other
countries. And as a result, our country is just acting like a factory for other
countries.
Today , how many of us have a TV which is made by an Indian
company? But when we look at the manufacturing unit , most of them might be
manufactured in India or China, which simply means we are just doing work for
companies of other nations’ , without getting any technology. Most of Indian
companies were thrown out in the competition and we just became a market for
other countries(except in IT field, where there are a few good companies. ) .
Ofcourse , we have some exceptions like Tata group, which started to acquire
companies in other nations, but still if we take Indian market as a whole , it
has just turned to be market for foreign countries. Automobile and electronics
market are totally dominated by external companies and at the same time, Indian
companies are really struggling to find market outside our country.
This is the right time to analyze our nation’s financial policies.
I really didn’t mean that we need to move to move back from current financial policies, but we need to
analyze and reorganize our strategies and make sure that we will stand front in
development, instead of depending on other nations for everything.Otherwise, we
will just remain as a colony of other countries, just like pre Independent
period. We will be independent by name, but will be dependent on others - infact a colony for other countries.
