This is my interview with one of my father's friends, Uncle Saranpal Singh Khaira. I would like to acknowledge and thank him for his invaluable time and insight.
Me: Do you feel that there have been rapid changes in India in the past 30 years ?
Uncle Saranpal: Major rapid changes have been observed with the opening up of the economy in the late 1990s. In the past, it had a very protectionist and inward looking economy with the emphasis on self sufficiency and not on trade. Foreign banks have now been given licenses to operate in India, and there are more liberal monitory policies in place. All this has helped encourage the country to be more trade oriented than its rural agriculture focus in the past.
One only has to look at the benefits of this liberalisation: in-flow of goods and tourism, and developing a services based industry in the IT sector (BPO or Business Process Outsourcing). Cities such as Bangalore, Hyderabad and Gurgaon are flourishing due to the IT industry.
Due to the economic success, there is now a growing middle-class society that is benefiting from these changes.
Me: How do you feel about them ?
Uncle Saranpal : It is good to see changes taking that can help improve the lively hood of the population. In the past, infrastructure such as roads were poorly maintained or not developed.
Me: What do you think have brought about these changes ?
Uncle Saranpal : The biggest hurdle to overcome was the political will of the ruling elite that were reluctant to make these economic changes. They were from the 'old school' of thought about foreign ownership of business in India. The new political leaders recognised that new world order required changes to their mindset. Change was brought in gradually and not all at once to maintain some balance and control, although there is still debate that it could have been initiated at a faster pace.
The introduction of the internet has also allowed India to establish a world-class BPO industry. With its large talent of English speaking population and low wages, India has a good foothold in this sector.
Me: How are these changes affecting the people ?
Uncle Saranpal: The middle-class is now benefiting from such new policies. Their earning power has increased and so has their spending power. Trade has encouraged goods to be easily imported and peoples' lifestyle has significantly increased over the 30 years.
Me:What other changes do you hope to see happening / not happening ?
Uncle Saranpal : One of the biggest challenges faced is the rampant corruption level that is endemic in India. Corruption is believed to exist at all levels of society and government administration. Whilst corruption affects everyone, it is especially difficult on the poor.This has to be eradicated, but will require a long time and with the commitment of the political elite.
The poor are still marginalized and many of these new economic policies are still not benefiting the poor. Education is the key to break the cycle of poverty, unfortunately, education is either not available to the poor or difficult for them to access it.
India still needs to invest considerably in its infrastructure such as better roads, telecommunications, airports, access to clean water and sanitation, and electricity generating power stations just to name a few.
It is a complex problem, but the country seems to be committed to continue to follow this path that they have started.
No comments:
Post a Comment