“I am a very optimistic man and only an optimistic man can bring optimism in the country.” Narendra Modi
Indian Prime Minister, Narendra Modi recently dined with several CEOs of the Fortune 500 companies as he made his “Make in India” business pitch. Among the CEOs of Fortune 500 companies attending the event were Lockheed Martin, Chairman and CEO Marillyn Hewson, Ford President and CEO Mark Fields, IBM Chairman Ginni Rometty, Pepsi Co. Chief Indra Nooyi, and Dow Chemical Chairman Andrew Liveris.
From an economic point of view, here’s how I look at the Make in India business pitches:
Fortune 500 companies are pretty big. With big money to spend. These corporate tycoons will set up bases in India and foster production, marketing, sales, etc., in India. As we all know, India is yet a developing economy, which means that investment is welcomed with embracing arms. Their investment in terms of setting up factories, outlets, et al, in India is going to foster economic growth in the country. India is very large country with lots of resources – land, people, energy, etc., that remains untapped. Economic growth is going to facilitate better utilization of these resources. Economic growth means more per capita income; more income in the hands of every person and every household. More money leads to more spending, which in turn has growth benefits. More income also means more saving, the banks would love to hear that, wouldn’t they? More production also means more employment, which means perishing poverty and an equitable economy. Which deduces to, Modi’s meeting resulting in a booming Indian economy.
From a more directly observable perspective and a quicker result, India will see rapid changes in the number and kind of services that will be made available to them. All those things Indians are famously in awe of when they go abroad, they will now experience in their very own country.
If not anything else, all the long-term, political, economic and social effects kept aside, looking at the Indian Prime Minister in a room with people who run the business world, makes me feel proud. It somehow inculcates a feeling of optimism, a sense of a brighter future. These Fortune 500 CEOs, to us are names we see on news forums, interviews we read on magazines, or statements that make headlines. To know that they sat together to discuss investment and the future of their companies along with the future of India should make any Indian proud.
I, for one, see no logic in splashing headlines that our PM only makes foreign trips and is unaware of the situations in his own country. How difficult is it to realize, whatever is being done IS to improve the Indian economy and social status?
When I look the Indian prime minister, pitching the Make in India business model to the biggest companies of the world, I can’t help but say “Acche Din Aane Waale Hain” (Good Days Ahead).
Written by Radhika Sethi