American (or say, World) recession has turned out to be a horrific reality – The great American dream is shattered, China’s Manufacturing industry is reeling under pressure, Europe’s playing too safe.
The US is putting in money wherever it sees problems (the traditionally American way of solving the problems), Obama has incentivized hiring but saturation & positivity ballooned have taken their toll.
The Wall Street is full with money without trust!
All said, all read – I would not comment further on current conditions & solutions. However, there are some pointers that have not missed my eye (or my mind).
The American entrepreneurs/capitalists have launched a movement (readers might have heard of it): http://startupvisa.com/
It’s extremely critical to fuel the boost for long terms & create meaningful long-run jobs for us to get out of this mess.
It’s sad to see India once again being a slow starter!
Our sorry story is not just limited to physical infrastructure – the roadblocks in broadband penetration are too discouraging – Indian IT growth is repeatedly failing to solve India’s problems!
India could be hugely benefitted to make moves at this time – India can turn this recession into a boon for economy. We already are a better market than China http://bit.ly/dibrAt & with tighter monetary controls, less risky than USA.
- Urban-Rural disconnect hampers India’s comprehensive growth again & again – India probably has the highest delta in the world in this regard
- India stands at a stage where it’s gotta balance between migration & globalization – we still are heavily confused
- Weak policies & weaker implementations do not help much either – India always starts on defensive
- Cultural & social barriers majorly block India’s juggernaut – failures are a still a crime!
However, I’d still say it’s a great place to startup!
Shortcomings cease to look bad the moment those are viewed as opportunities!
Bottoms-up growth model, reasonably strong mobile phones networks, decent emphasis on rural strengths, strong consumerism & above all, the People (a nation with astonishingly high young population) make India a land of opportunities.
We also enjoy substantial NRI Investments & other FDIs.
India has still got huge chunk to offer in philanthropy, healthcare, energy, petroleum & social businesses. Cultures & languages stem a new & one-of-its-kind model of entrepreneurship.
All we need is some support from the top, some aggressive policy making by the government to leverage the growth.
- We don’t need a startup Visa program – we need to nurture our own entrepreneurs
- Still need to boost high-end education & research facilities to retain talent & stop unnecessary emigration (this doesn’t mean setting up colleges tagged IIT,IIM in villages, quality supervision is paramount)
- There is GOT to be a Radical shift in traditional policy making process – India has grown more than it’s leaders ever expected it to
- Little more opening up the market wouldn’t hurt either (though, debatable)
- For the n’th time: Every type of infrastructure needs an immediate overhaul in India
Too much to hope, waiting for some satisfaction!
My scribble 