Nexus of Growth in Emerging Economies like India
A lot of high pace growth we see around often comes down to
real estate, followed very closely by Education. This is more true for India,
that has a high growth trajectory. And while we see endless construction( and I
am referring more to housing and business markets than roads and core
infrastructure)) all around, look deeper and introspect if we are providing affordable housing and a
meaningful education at a cost that is in line with India’s affordability? Are
we creating an education
system that is putting youngsters
with “deliverable” skills to the Industry?
I wish both were true – affordable Housing and
affordable Industrial &Office
infrastructure.
I might be a bit off my understanding here, but I see high
pricing on real estate. And my pragmatism business sense tells me much of
“cash” fuelling this Real Estate industry is not so clean and coming from the
political system. I am told there are many “proxy” owners in many 2nd
rung Construction and Development Companies. End result – high profiteering rules the game,
specifications and long term planning takes a back seat. And who is paying for
all this? You guessed it right – the working class that gets strung by crazy
EMI( mortgage) for the next 20 or
30 years and has to cut back on many essentials in life. Pretty sad.
Turn to Education - India got here because of a high
standard of affordable education – the world talks and appreciates this. And
what are we doing? A substantial percentage of the Education Industry is again
being high jacked by what is loosely termed as the “Education mafia” – again no
second guesses here. Many are being indirectly owned by the political system
that is shameless in their profiteering with little or no sensitivity or
understanding to the needs of the students. End result – we have tens of
thousands of young Indians who have paid hugely and are not deliverable to the
Employment markets, and all this with no fault of theirs. Pretty sad.
The privileged middle class that is educated and has a voice
must step in to raise such issues with the policy makers. It’s our duty and a
commitment to our country. Each one of us deserve better and the least we can
do is to bring about awareness and eventually force changes that makes sense.
Don’t you think so?
|