White Noise

Confessions of a Human Brain

India is Shining

Posted by Joe on October 29, 2007

Mukesh Ambani, the eldest of the Ambani brothers is the wealthiest person in the world. He has surpassed Bill Gates and the Mexican cellphone tycoon Carlos Slim Helu and the investment expert Warren Buffet while doing so.

Previously Mittal, the head of Arcelor Mittal was the wealthiest Indian in the planet.

But there are lot of differences between Mittal and Ambani. Mittal got most of his money through steel plants which were located outside India, on the other hand Ambani found wealth in India.

Even though lot of people cite the surge in Indian stock market and the appreciation of Indian rupee for the reason for Ambani to take the top spot, we have to realize an important thing.

There is a lot of money to be made in the Indian markets. Indians need not go to US to become rich.

The number of people with disposable income has indeed increased by many folds. When I was a school kid, a person who is earning around Rs 10000/- per month is considered to be a wealthy man. A bank clerk is supposed to be a top paying profession. Now the things have changed completely. There are 3 million IT professionals in our country and they are earning a lot. With IT, things like Cell phone and Oil have also seen a big boom. So indeed India is shining.

But still this boom has not affected the bulk of the population as still 70% of Indians are directly or indirectly associated with agriculture and the agriculture exports havent surged much in the recent years. Let us hope for a surge in agriculture production and another green revolution so that we can really say that India is indeed shining


One Response to “India is Shining”

  1. subbu said

    ya, thanks to unrealistic price that Reliance command in the stock market. I would rather consider TATA’s Corus take over and bid for Jaguar & LR as a matter of pride than Ambani’s .
    Btw Mittal just a Briton of Indian origin but respect him for his command of his business.

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