Bravo, T N Ninan for holding up the mirror to the faces of Indian business in Weekend Ruminations (“The face of business,” August 13). In recent times, your paper is possibly the only one highlighting the societal perils of cronyism and nepotism lurking behind macro-economic growth indicators.
The silence of the chambers of commerce, as Ninan rues, is not surprising at all. No chamber of commerce, or for that matter any leader of Indian business, is known for taking a stand on social issues, ever. Refusing to view anything beyond their interests, industry leaders and chambers of commerce are quick to criticise the Reserve Bank of India (RBI) for high interest rates. Their economic view does not stretch beyond the element of cost of borrowings. This is almost symptomatic of the malaise of the English-speaking elite for whom government and institution-bashing has become a fad.
As for the writer’s comments on an auto company unveiling a Rs 16-crore car for the Indian market, it reminds me of a feature in your daily on the rising number of buyers of uber-lux yachts. The question that arises is whether it is just a mere coincidence that the majority of these new breed of conspicuous consumers are also inheritors of legacy businesses.
There is a need for an urgent debate on whether an economic environment that facilitates consumption for the few and programmes like NREGA and food security for the masses can coexist without redistributive justice. Against this backdrop, the spectre of street riots, as Ninan points out, is not alarmist but astute reading of the writing on the wall.
Ajoy K Das, Kolkata
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