Thursday, July 23, 2009

Rogers - India Skeptic

Have you heard of Jim Rogers? The guy has who traveled the whole world in motorcycle and made it to the Guinness record. He also wears so many hats, used to be a professor at Columbia Business School, co founder of Quantum Funds along with George Soros. Besides that he made headlines in American television for moving to Asian city. He currently resides in Singapore. The reason behind his movement, he considers the future in Asia rather in America or Europe. So his daughter is learning mandarin to prepare for future.

But he is only betting on china and also published a book called “A Bull in China”, not India he remains skeptical of India’s growth and considers India’s growth will broke up in next 30 to 40 years. Shocked? He has reasons for spotting this trend. He claims India’s bureaucracy is legendary (which everyone knows). India is reluctant to privatize lot of things which badly needs reform. One of things is obviously education when there is a huge chunk of population which is very young. So, He claims reluctance among Indian Governments in reforms will break the sub continent and lose the economic race.

He obviously saying the obvious but he forgot to mention, Indian entrepreneurial talent which no other country in Asia actually has. India business elites are one among the top in the world. Though India has so many bureaucratic problems, it is able to produce 70 – 80 billionaires. Just contemplate if Indian government strenuously work to improve Governance, Indians will see so many millionaires and zero poverty in India. So India can beat the skepticism of Rogers and other likeminded people. Hope, Indian government realizes this faster before it is too late.

No comments:

Post a Comment