Really this news is worthy, the facts and message is clear and true but for how many years or centuries are we going to be like this keep on "be Indian and buy Indian"
though we have not achieved a tremendous growth and achievement in IT sector, certainly we have made an impact in the international market, what we have achieved is a tip of iceberg, the real one is yet to come, without India none of the world's biggest IT or IT related service could not be accomplished - Watch out, this is going to happen, the question is when? either near future or else it will take some time.
The whole world is shrinking to a village, in this situation we cannot isolate ourselves from the world, we have to face it, can’t you see our achievements in the last 15 years after we adopt partial open market system.
Your ideology of "be Indian buy Indian" is a failed one, we have already tried this with Nehru's socialistic economy, which proved to be a great failure.
When it comes to private, we should not differentiate it as Indian product and foreign product, as a consumer we need quality products that is all
Here comes the main point, I too do not have a deep knowledge in economics but I will try my best level to make u understand
Your argument is that the profit earned by Pepsi, Coke, Colgate, Hindustan Lever etc…. from Indian market will be taken away by the respective companies to their respective countries, yes it is true I agree with that.
I want you to know one thing that the Indian companies that you have recommended to buy their products are not 100% owned by Indians (may be some exceptional, we might have achieved some self sufficient in FMCG sectors but still we are totally dependent on foreign know-how or foreign products)
For example let us take Godrej Consumer Products, this is an Indian company which you have recommended to buy some consumer products, as per today share holding pattern (28/12/04), the company’s promotors holding is only 67.87% of shares and the Foreign Institutional Investors, simply called as FIIs, are holding 16.79% of shares. Say if the profit of this Indian company is 100 crores, foreigners will claim 17 crores.
This is just a single example of 1000s and that too in consumer products, when it comes to heavy machineries, automobiles, medical equipments, medicines, etc you cannot deny that we are totally dependent others.
It may seem that I am totally downgrading Indians, no I am not. First of all we have believe ourselves that we can do it, as I mentioned above in a short span of time we have achieved a remarkable growth in IT and pharma sectors if it continues to grow at the same pace we can command the world market.
Our corporates are now establishing a good brand India abroad ( do not forget we have already proved in the software field and proving in the pharma sector ) slowly or fast this trend will soon capture in other sector also especially in textiles, in which we have huge potential next to China.
Reply for this and I will write you again.
Regards
Thangamanithangamanimuthusamy@yahoo.com
