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A Bridge to India

A Bridge to India

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Published by Uday Dandavate
Those who wish to invest in the evolving economy of modern India need to make efforts to understand the Indian mindset, especially the majority of people who live in small towns and villages far removed from the major metropolitan cities.
Those who wish to invest in the evolving economy of modern India need to make efforts to understand the Indian mindset, especially the majority of people who live in small towns and villages far removed from the major metropolitan cities.

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Published by: Uday Dandavate on Nov 29, 2010
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01/30/2011

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A Bride to India
 
A Bridge to India
Uday Dandavate November 16
th
, 2006.There is an upsurge of interest amongst future focused organizations worldwide tofathom the implications of the emergence of India and China as important players in theworld economy. As the two emerging economies shed their past and develop greater confidence, competence, and infrastructure, they are bound to influence the style andsubstance of international trade, manufacturing, and marketing.From the attention it is receiving from the media and from the FDI, China appears to beahead of India in integrating its economy with the global economy. Chinese authoritieshave managed fast growth and attracted FDI through controlled liberalization of theeconomy and smart management of the “Brand China.”Unlike a more centralized form of government in China, India is faced with theresponsibility of managing progress within the democratic system of governance. Indian political rulers cannot force changes in India’s economic structure unless the majority of her population sees the benefits of any economic, cultural, and/or social transformationmaking a clear difference in their lives. While it is true that in India, a nation of a billion people, there is a significant middle class that is raving to harvest emerging opportunitiesin the global and liberalized economy, and wants to benefit from technologicaladvancements, there is also a larger population that feels sidelined from development. Itis this population that asserts itself through the ballot every five years to give a realitycheck to the political leadership. They too would be willing to participate in the processof globalization, but only with those who demonstrate sensitivity to unique cultural,social, economic, and psychological factors that characterize the Indian heartland. InIndia, the early adopters of modern lifestyles do not go to vote; those who live in thevillages and small towns and in the poorer communities of metropolitan cities do. Andtherefore, no matter how attractive the prospect of fast market reforms may seem to the proponents of liberalization, India will evolve at its own pace. Though the pace of changein India seems slower than in China, it is more participatory and, therefore, likely to bemore sustainable. There are already signs of social stress surfacing in China, whereopening of markets is inspiring the poorer population to revolt against the government policies, especially in the southern regions of China. Without a plan for a transition to ademocratic system of governance, where aspirations and energies of the disadvantaged population are harnessed rather than suppressed, the Chinese economy may be headed for challenges that can ultimately threaten continued patronage of the liberalization process.Only those who have the grit and commitment to partner with India in managing agrassroots-level change are likely to ultimately be rewarded with a partnership. WhileIndia is raving for change, it is not likely to completely metamorphose into a westernmodel of a marketplace. Indians are proud of their history and the traditions they haveinherited from hundreds of years of cultural evolution. Indians are also wary of thedesigns of foreign traders, having once lost their independence to the East IndiaCompany. A vast majority of Indians are poor, and are tied to social and religious

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