I think this mindless ranting about capitalism has to stop, period. On one hand, we want to compete with China, which is extremely capitalist, and on the other hand, we want to ride bullock carts to work? That’s not going to happen.
We beg for innovation and research but do not want to reward risk?
Only capitalism can ensure fair incentives for enterprise and innovation.
India should have had a hundred Tatas and Ambanis by now. We don’t. It is because we have this holier than thou attitude towards socialist models, that no longer serve any purpose in a competitive World.
There was a time when the Tatas and Birlas were vilified like the Ambanis and Adanis are being vilified today. But the former have been around long enough to be trusted.
Business philosophies apart, all of them are capitalists, first and foremost. For a nation to be stable, both the large and medium scale industries and businesses need to be stable, durable, and diversified across all sectors.
The Tatas and Birlas have managed to do this, and now are being chased by others like Reliance, with a fair amount of guts.
The key word here is ENTERPRISE. Next comes competition. Both are very healthy for any country’s performance of assets.
Very few PSUs have the DNA for being competitive. That’s why very few of them are successful.
Forget about profits - many do not even deliver what they should deliver to the Indian public.
Was it so hard to build and maintain modern, highly functional Airports? They had to go to GMR, GVK and others.
Was it so hard for the government to build and maintain our national highways? Those contracts had to go to the private sector.
Larsen Toubro roads are indeed far better than what your local municipal corporator will ever lay through his buddies who own a tar machine and a road roller.
Not many Indian enterprises have the experience, the ability or the demonstrated administrative capabilities to take on huge, bigger responsibilities across sectors.
India is on a massive capacity building spree. The average Indian citizen needs far greater infrastructure than is available today. We’re losing thousands of crores in lost productivity because of shitty infrastructure and apathetic, uncompetitive entities that were in charge for long.
Who runs IRCTC’s website? Tata Consultancy Services. Could it have been run by C-DOT? Perhaps?
Could it have been run by a Railways IT wing?
Of course not! They would have gone on strike as soon as they were forced to stay awake longer to fix a bug, and lakhs of passengers would have returned to long queues.
Why is JIO being trusted with 5G implementation all over India, and not BSNL?
Because BSNL was not even competent with 4G and they ended up returning the spectrum they originally bought.
Capitalism is hardly a panacea for all our country’s problems, but it is the only available alternative to a worn out work ethic that has refused to keep up with the times.
Even today the commies want unions to run industries, not the entrepreneurs.
Nothing but entitlement mentality laziness deeply ingrained in the Indian psyche.
Why are private trains looking so attractive to big investment?
Because this is huge potential!
What stopped the Railways from exploiting it?
Nothing but uncaring bureaucracy, lack of vision and imagination, and unions, unions, unions stopping all that was beyond their immediate zones of comfort.
Why are Indian Railways employees resisting the increase of speed of our trains?
Because they will have to do more work if trains become more frequent!
Many zonal management staff members take bribes from private bus operators to not put in a request for a new train upon seeing increased demand.
When we have such a large termite layer of inefficiency, there is no point trying to cure it. It is far better to let it be replaced by private enterprise, with a whole new paradigm.
Many public private partnerships will flourish. Many of our infrastructure will be built by private enterprise like the thousands of kilometres of optical fiber cables laid by private enterprises all over India, that bring us faster cheaper internet that we almost take for granted today, and has played a stellar role during this pandemic. .
Could we have even imagined online classes at 250 rupees a GB that BSNL was offering? Or massive 5 MB mailboxes, even while Gmail was offering 5 GB free?!
Whoever has got game, should be playing for India. .
The capitalists and entrepreneurs should be given a free hand, and government only sitting in to regulate. Nothing more.
There are enough checks and balances in the system.
I only wish the conservative Banking system opens up to more risk takers, and learns how to judge investments at smaller levels smartly. It is a much needed capacity they need to grow.
They should not be parking their money with the RBI and sitting smug.
Access to capital is a Government call. I wish this call comes soon.
Until then, as long as the Banking system only trusts big business houses, and the Government only looks for proven performers, only a few will grow to giant size.
But there is enough demand to mushroom quite a few more. Hopefully the trust deficit is addressed and capital flows to the smaller enterprises as well.
That said, this nonsense about ‘selling India’ to Indians will remain nonsense. It is already ours. It really does not matter who owns something as long as Indian interests are safe and secure.
I wish for a thousand times more capitalists active and enthused about India.