Saturday, November 6, 2010
Domestic Industries are in Jeopardy
Obama signed a new trade deal with India announcing nearly $10 billions business deal which will include lot of Boeing Jet planes. This is considered to be a great deal by many top Indian business people. He addressed them in Mumbai and encouraged to support the deal. Obama also passingly mentioned about the domestic industries. Domestic small scale industries will be in jeopardy but Obama assured it is not the case, rather it will boost the Indian economy as a whole. Many of the people have welcomed the trade deal but I am not too sure whether the people in the village know anything about it, in any case many think what is the matter, it does not affect the poor people in the hinterland of India.
Let us try to analyse the situation of India and the new deal together. Indian economy is growing according to the West. I am very proud to be in Europe and hear people say, oh India is rich. But if I go to the grass root of the problem, it is a perpetual problem for several years where Rich get richer and poor get poorer. How do you compromise this two extremes? Sharing of wealth is a distant dream for us Indians. I am not denying the good will of those people who share their wealth with the less privileged.
Enormous amount of money is being pumped into the budget every year by the government, but irony is money does not reach the needful. When money comes down the lane, it has many tributaries to distribute, and at last when it reaches the real need it just a pittance.
Obama's new trade deal means more American market in India. Americanization of India. I am not too sure about the domestic industries and their fate. Some years ago when Mc.donald's came to Pune, the petty pani puri and vada pav shops were moved to the fringe of the city. They virtually had to abandon their petty trade and business. Poor little business people had to find something for their survival. Therefore I am sure you can see the problem here. It is just a tip of the iceberg I am trying to present but there is lot going on in the business world. Let us try to open our eyes and see what is going on around us and if possible try to sympathize with the people who are likely to get affected by the multi international firms invading our sacred business world.
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