Vijay Kumar Gaba

 One of the most famous dialogues delivered by legendary Shahrukh Khan goes like this – “Agar kisi cheez ko dil se chaaho to puri kayanat usey tumse milane ki koshish mein lag jaati hai” (If you desire something from the depth of your heart, the entire universe would conspire to fulfil your desire.)

Recently, the Global CEO of McKinsey & Co, Bob Sternfels forecasted that. The factors like a large working population, multinational companies reimagining global supply chains, and a country leapfrogging at digital scale-to achieve something special not just for the Indian economy, but potentially for the world, are aligning well to to make 21^st century – the Century of India. (Read here)

It appears that the universe is conspiring to make 21^st century - the century of India; but the question is whether we Indians are indeed aiming for this goal with full honesty and intensity.

Historically, the Indian entrepreneurs were constricted by the culturally strong agriculture mind-set dominated by contentment and complacency. The hard working and intelligent people missed the entire industrial revolution as a consequence. To some extent colonial rule could be held responsible. But largely it was the mind-set that was responsible.

Post-independence, most entrepreneurs could not think long term, hence did not invest much in R&D activities. They would rather import technology and pay royalty for it. Furthermore, most entrepreneurs were easily satiated. Complacency would easily meander through their enterprise. Mostly, a few which had widely travelled, worked or studied abroad did only think big.

The governments also preferred less consumption over more production. Rationing of everything was the policy for more than three decades. You needed to pay an annual license fee for owning a radio set and bi-cycle. Long queues for cement, sugar, scooters, telephone, cars, kerosene, diesel, passport, were the order of the day. The people accepted this as a way of life and entrepreneurs mostly focused on manoeuvring around the rules to garner whatever resources and market share they could.

However, the generation born post 1991 is not constricted by the traditional agriculture mind-set. This generation has not experienced long queues for basic necessities of life. These people were born with colour televisions beaming many channels through satellite in their homes; a variety of cars & motorcycles, telephones, gas connections, available on demand.

This post 1991 generation is now out of the business schools and helming the business affairs. These young men are hungry; not afflicted by the traditional agriculture mind-set; are global in their vision; possess strong technical & managerial skills; and have resources to take risks. They do not stutter while talking about billion dollar deals. Their role models are the likes of Jeff Bezos, Steve Job, Larry Page and Mark Zukerberg.

Governments post 1991 have also been supportive of businesses. They have made efforts to add global scale capacities in numerous sectors and policies have been oriented towards globalization of the Indian economy encouraging businesses to grow in scale and reach.

Anyone could see the change not only through numerous technology enabled start-ups, but through traditional businesses like Haldiram and Bikanerwala. I can now easily get my favourite Chaubey ji spices from Agra and pickles and chutneys from Prakash Namkeen Indore in less than a week.

This side of the picture appears all geared to define the economic history of India in 21 century. However, there is another side of this picture that does not appear as promising.

For one, a much larger section of youth is disillusioned. They are not only distracted from the core issues of development, growth and global competitiveness; but may be unintentionally working as a counter force to these goals. Unfortunately, a section of politicians is actively manipulating these disillusioned youth to promote their ulterior motives.

Secondly, a much larger section of the population is getting left behind in India’s race to become a global force. Since these left behind people form a significantly large majority; the politics of the country shall remain focused on their survival. The policy making function shall therefore always remain at risk of slithering back to ultra-socialist tendencies, impacting growth of businesses; besides the spectre of disruptive civil unrest will always keep lurking.

It is therefore utmost important that the development and growth ecosystems are tuned to the imperatives of inclusiveness and sustainability. “Sabka Saath and Sabka Vikas” needs to become the core of all growth & development effort; else the risk of failure, like Brazil, Mexico, Argentina, Russia, et. al. shall keep looming large, impairing the chances of India ushering the world into 22^nd century.