Mihir S. Sharma Famous Quotes
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Better people are possible to create, even in Delhi.
The name 'JSW', you will note, is not particularly imaginative. Nor is it the kind of thing you would imagine is incredible intellectual property. Yet, in 2014, JSW Steel told shareholders that it would pay Rs 125 crore a year to a firm entirely owned by Sajjan Jindal's wife, Sangita. In return, Sangita Jindal would graciously permit her husband to use the 'JSW' acronym, which JSW Steel insists her company, JSW Investments, owns.
13 million Indians will join the workforce every year from now till 2030. They know their prospects aren't good. Here's why: in the years from 1972 to 1983 - not celebrated as a time of overwhelming prosperity - the total number of jobs in the economy nevertheless grew 2.3 per cent a year. In the years between liberalization in 1991 and today, jobs have grown at an average of only 1.6 per cent a year. But, if these young people have to be absorbed, then jobs must grow at least 3 per cent a year - almost twice the rate at which they have since liberalization. This is simply not happening. In other words, one out of every two youngsters who starts looking for a job next year won't find one.
At some point, economists must study the Business Family Wedding Gift Economy. It is an extraordinary, closed bubble. What happens is this: a woman marries into a conservative Indian business family. She may well be energetic and bright, but there's no place for her at work, nor can she work elsewhere. So, instead, she's urged to 'take up something'. Scented candles, usually. Sometimes kurta design. Or necklaces, or faux-Rajasthani coffee tables. She then becomes a 'success', because every other woman in the family buys her candles as wedding presents, at hideously inflated prices. In return, she buys their kurtas as wedding presents. Eventually, everyone is buying everyone else's hideous creations at hideously high prices, and nobody can ever tell anyone else their stuff sucks, and that nobody really likes the smell of lavender anyway. The most amazing thing is, this is not a very different economy from the one their husbands are in.
