One Emerging Economic Power

India is one of the developing and emerging global economic power. Everyone eyes at India as it rightly projects to the West as one of economy generating power. Most companies veer or at least aspire to base their business outsourcing in India. There are umpteen call centres and BPO's all over India. It is obvious from a global perspective to think that the India is flourishing in economy. The multinational firms have showcased in the global market that India is absolutely a developing economy. This has lured the multimillionaires to set up their partnership with Indian firms, which is not bad in itself but analysing further opens our eyes to the fact that business outsourcing creates a small amount of work for Indians and generates enormous profit for the partnered company. It all looks very glossy and bewitching at the periphery even at times seduces the Indian masses to take on the multinational businesses.

As I walk in the streets of London I feel proud to be an Indian because everyone thinks Indians are wealthy. News papers report about the latest economic figures as soaring at a faster rate. Is this factual? Are we so rich as Indians or is it only some of us are rich in India? Does the world know that at least 38% of the population lives below the poverty line? Does the media and business world show the slums of Mumbai or just the multimillion house of Mr. Mukesh Ambani? It is all a scintillating irony when I tune into news channels. There are numerous issues, that India as a nation should be liable for showing the world that it is an emerging economy. Look at our neighbour China; do we really know the economy of China? Every tiny or large material I touch in the Market is Chinese made. Media might show the enormous growth China is pursuing but China has a way of keeping its home secrets home.

Let us probe in depth into the economic well being of India. I am proud to be a part of emerging global economic power, but my question is; do we really showcase it when we have voluminous issues being swept under the carpet? Our GDP is pretty consistent and there is a significant growth; as for May 2011 it is Rs.12,61,664 crore, and GDP per capita income is $ 3,608.196. Our GDP growth rate as for May 2011 is 8.82%. GDP per capita income is so significant to measure the wealth of the people in a country. Now this is a measure, as you know by averaging the GDP of the country. I am apprehensive about the whole business of averaging. How can someone average the mass wealth of the nation and procure the wealth or income of the all the people in a country? Does it provide the real figures, since there is huge gap between the poor chaiwala and Ambani's. Now the misery of the low-income earners is doubled, since there is a significant growth in the inflation rate. As for March 2011, inflation rate is 8.82%. Does this inflation help the poor? Price of rice (staple food for most Indians) go up by even 5% will result in forgoing a meal among the poor. I am sure people around the world can figure out these figures, I am no mathematician. Economic figures do show the reality but reality shown on an exotic media can favour the rich to amass more wealth, in other words media advertises the multimillion firms further. Thence I am apprehensive in believing the figures as real. They are just figures for me.

A couple of months ago the Guardian (national news paper of England) had a whole page dedicated to showcase Mr. Mukesh Ambani's expensive house. It was rated the most expensive house in the world. I was thrilled to read that India has the 4th richest man in the planet and can live in an ever expensive house but I am also aware that India has the poorest people in the world and live on the streets to pass the night with no choice left. I used to work in the slums in Ramwadi, in Pune, who struggled to meet their both ends of their lives. They lived in an absolute miserable condition along the sewage canal that carried awful stink and bred mosquitoes spread endemic infections like malaria, dengue, cholera and so on. Their children were sickly because of the malnutrition. On the other hand, there were huge multimillion buildings like Gold ad labs, McDonald’s right next to the slum. I don't have to blabber on this after giving an extensive glance at the reality of India.

Thus, are Indians really rich? I would emphatically opine that a few Indians are rich but most Indians are poor and very often living below the poverty line. Mr Obama made a few trade deals with India; everyone was fascinated with the idea. How does this new trade deal help the people in the slum and remote villages, for instance the deal of Obama includes jet aircrafts, Do you think an ordinary person can afford flying in India? Let me leave at that allowing Indians to ponder on their glory gained from the global arena. Let me also emphasise that India as a whole is indeed a poor country. Time has come not to brood over the false glory from the economic figures rather open our eyes to see the poorest of the poor in the stinking slums and streets of our country.