Isaac Gomes wrote:
One must understand the background of Namo (Narendra Modi) before dissecting his economic policies. Let us not forget Namo hails from Gujarat, a state which is known worldwide for its simple living and high thinking (money-making – in sophisticated term business acumen). If one takes a look at the NRIs (Non-resident Indians) or Indians settled abroad, one would discover they consist mostly of Gujaratis (spread mainly in the UK, US, New Zealand, Iran, Malaysia, Kenya and South Africa). In fact the biggest Gujarati temple in the world BAPS Shri Swaminarayan Mandir is situated in London, the heart of UK.
So Namo has a business acumen (he was a tea stall owner and a grass-root level worker) which his predecessors (other prime ministers) did not have. For him the world is his canvass. Through these apparently let loose Indian Billionaires, his vision & mission is to convert, the foreign land into virtual Indian colonies – conquest of the world without any warfare! Namo thinks the world to be his market for selling his much-avowed "Make in India" dream. He believes in giving his rich disciples the freedom to spread their wings abroad and come back whenever they feel like. For his their foreign jaunts is not the flight of capital but creation of an environment for more inflow in capital out of their enterprises abroad. In Economics isn't there a saying: "Money flows where there is the least resistance"? While he sweating it out day and night, through his packed foreign statesmanship, to create an atmosphere for the flow of foreign capital into India, we the Doubting Thomases are doubting the pious intent of Namo who is single and has no vested interest! Why blamed Namo for allowing our Millionaires leave India, the latest being Vijay Mallya. See yesterday only he promised to pay Rs 4,000 crores out of the Rs 9,000 crores he owes to the consortium of banks! Even the Supreme Court of India has taken cognizance of his offer. So how can we say Millionaires (I thought Billionaires) are leaving India?
Zacharias Nedunkanal wrote: It is a blessing to have different version of an event. I was also inclined to think negatively on Modi's foreign fancies. This view makes me think twice before judging him. It gives me hope. Yet one has to look forward to a more human approach on the part of the prime minister to the internal conflicts caused by narrow mindedness and religious fanaticism.
Isaac Gomes replies:
Modi needs to do a lot in addressing growing domestic religious and social intolerance. He needs to first put a brake on "majoritarianism" and give all a sense of belonging to India irrespective of one's religion and beliefs. The common man is not interested in the number of millionaires as long as his basic necessities of Roti, Kapda and Makaan are met. Modi has to ensure this. He has to understand that just as growth of only one part of the body does not mean wholesome growth of the whole body, so also increase in the number of millionaires and GDP growth, does not necessarily mean all people have become rich. His prime job would be to reduce the growing disparity between the "haves" and "have-nots". At the same time the Indian Church cannot pass the buck of its minuscule 2.3% Christian population on the government and wallow in an advisory role. It has to cater to all Christians in terms of quality education and healthcare for all Christians, including low-cost eco-friendly housing out of its temporal treasure.
dr.james kottoor replies:
Most welcome, dear Isaac, for your take on the Business acumen of Gujaraties and how they are doing well all over the world. Let more original thinkers like you come forward to express their different takes, so that CCV readers will have a wide variety to choose from.
But what is under discussion in the editorial note and in the report of the “New World Wealth” given by Asian Age is all about the outflow and inflow of wealth from India and other countries in 2015. No one is waxing eloquent there on Gujarathi entrepreneurship. Only communities mentioned at random are Christians and Muslims. That Modiji happens to be a Gujarathi is totally irrelevant to the question discussed. What is relevant is, he is our PM and under his watch and stewardship there was a flight of capital from India
In 2015 that amount was the wealth of 4000 billioners. 2015 was the first year of his two year rule already completed and three more to complete. This happens against his assurance given that he would bring back all money looted from India and deposited in foreign banks in the first 100 days of his rule. He had also promised the exact amount (which I forget now) he would be depositing in each account. What happened to that promise or dream he sold to win the 2014 election?
It is good to dream dreams. If all our dreams were horses, we all would be galloping on horse back now. What the editorial note analyses is not dreams, but actual happenings on the ground in India and asks: if the present trend continues, how much capital would have flown out of India when he completes his five years (he has already completed more than two years) and no promised FDI comes in, but only a regular flight of capital from India? If that happens Indian Voters may have to decide to dump the present dispensation into the Arabian sea, lock stock and barrel and install another team of looters of the Aam Aadmi’s money. Is it not what every government do? Has not our democracy become a five-year license given to the winning electoral coalitions to loot the country? May I invite more writers to enlighten us on this topic.