Its surely a high to have an Indian heading the worlds biggest bank!! Its an indication of the potential & the confidence of the New Gen India.
However the fact still remains that this pales in comparison to the tremendous progress Indian business houses have made globally in M&A activity, in increasing shares & in raising capital value. Companies like Tata's, Reliance, A.V. Birla group, Bharti (..and I dont count Mittals as they do not count them as Indian business) are venturing out in search of their share of world commerce. We hope that the tentative steps taken by these enterprises will be reinforced by sound financial & business acumen following in success.
However we need to keep 2 things in mind. 1. To not follow in the trap of the profit race - but be a part of the enterprise race. Meaning which, the myopic race to increase profits at any cost which have been the bane of a lot of the current "developed nations" enterprises should be avoided and business need to be built for long term survival. 2. India cannot progress unless the 100 crore Indians progress. The businesses need to have a strategy that will provide opportunity for the 100 crore Indians to share its spoils. Yes the 100 crore Indians need to stretch themselves and carve out their own share. But atleast give them the opportunity to do so. Eschew subsidies & handouts. Handouts only increase the feeling of helplessness.
