Sunday, March 30, 2014

When do we Chillax..???

When do we Chillax..???

In one of the speeches I attended, Mr. Subroto Bagchi, Author and Founder of MindTree Consulting, quizzed a set of students – What are the names of current and previous two presidents of Japan? As expected none of us could answer that. Then we were posed with the question – Can you mention names of any five Japanese companies? Instantly there were tens of names shouted by students, Hyundai, Sony, Honda, Toyota & more. I felt this amazing. Then he went on explaining how a country is recognised by the number of institutions it has built. 

We all know how Japan is a success story that the entire world is proud of, particularly, the way they recouped after WW-II, or the way their acceptance and resistance to the natural disadvantages. But, this has not happened because there was a political leader who popped out of nowhere as a ‘hero’ and declared he will take care of all problems of countrymen and paved way for prosperity of nation. Japan could achieve this because every citizen of Japan thought he had a responsibility to contribute to his nation and he indeed did so. In the bargain he individually prospered.

The same is the story that can be related with most of the developed nations. Then why is it that we, in India, are looking for a “HERO” in Narendra Modi or Rahul Gandhi or Arvind Kejrival or any specific individual. No doubt any of them can be the catalysts of certain growth measures for our country and we need a catalyst, but, sorry they cannot be the heroes, in fact, no one can…purely because, there is no concept called a HERO. It is the collective wish, collective wisdom and collective efforts of all of us that can take us to the next level of growth. 

Firstly, how many of us know what we mean when we say ‘growth’. Do we understand how GDP growth rate is calculated? Do we understand how higher exports (or lower imports) would reduce current account deficit? Do we understand why 60% of automobile market in India is captured by foreign companies? Do we understand why Narendra Modi’s selection is viewed positively by business houses? Can we comprehend how the spectrum scam impacted the economy? I can go on listing such questions. There is only one segment of our entire population that can give a positive yes as a reply. But majority of us, including the students like you, do not have that comprehending skill or knowledge or willingness. Then it is obvious that we depend on a hero and his wise decisions and completely leave it onto him to run the country and we happily keep chatting on WhatsApp..!!

Secondly, what is our definition of patriotism? We all love India. We all love being called Indians. Is simply respecting our national anthem, flag or emblem is patriotism? Is celebrating Independence Day, Republic Day, Gandhi Jayanthi or Children’s Day patriotism? Is cheering for India, when its playing cricket patriotism? Is doing or thinking anything that is against Pakistan patriotism? Or teaching our kids the history of India’s freedom struggle patriotism? I don’t know, but, this is what we (includes myself) all end up doing, and doing only this. Like we love India, we love our family, right? Look at all those things that you do to your families. You protect them – physically and economically; you keep them together, importantly in the times of difficulty; you realise you are an important member of the family and understand how your contributions are important for the family’s decisions and it is concluded that your family is loved by you. Now read the previous sentence again and see which of these are we doing to India and then claiming I love India.

Thirdly and as of now finally, what is your goal in life? Getting a good job? Owning a house? Being superrich? Philanthropy? World tour? Luxurious retirement? It can be anything. Even if you have not thought of any, then I would say your objective is to ‘Chillax’ (Chill out and relax). Now note that to achieve any of this, you need money - money that is not inherited, not borrowed or not gifted or not earned in KBC, but earned by you through your hard/smart work. For this to happen you need an environment that provides an opportunity for you to work. That environment is provided by your economy, viz., Indian economy. That economy neither inherited by India, nor can be borrowed from US, nor gifted by China, nor can be earned by wars. That economy has to be built by institutions, what we referred in Japan’s example in the first paragraph of this article. And those institutions or corporates can be and have to be built by us… all of us… individually and collectively. 
 
Summarily, there are three possible changes that need to be brought in all of us. First, we need develop the understanding of how country runs. Secondly, we need to realise our responsibility (specifically the economic) and contributions other than just loving the theme of being Indian. Thirdly, we need to start contributing to build those institutions either in the capacity of an employee or as an entrepreneur or as a teacher or as a leader. And then we the ‘Heroes’ will…er…‘Chillax’..!!

Author is a Faculty in Finance and a PFP Consultant
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