Recently, I embarked on a wild ride through India at the invitation of the Entrepreneurs’ Organisation and their Kolkata chapter. The journey was nothing short of mind-blowing, filled with exchanges with inspiring entrepreneurs and encounters with influential figures from the political and social realms, including the likes of Minister for Information and Broadcasting, Youth Affairs and Sports Anurag Thakur and the illustrious Gurudev Sri Sri Ravi Shankar. As my plane soared back to Europe, I couldn’t help but distill my experience into 10 electrifying takeaways.
1. Unraveling the Indian Enigma: The Four Faces of Wealth
Forget the idea of a single India; the reality is a stunning tapestry of wealth gaps. Thanks to insights from Ashish Hemrajani, Founder/CEO of BookMyShow, I discovered that India isn’t just one nation but four. From the elite “London of India” with its jet-setting 7 million to the masses in the “Sub Saharan Africa of India” surviving on meager incomes, the diversity is staggering:
- “The London of India”: Approximately 7 million people with enough wealth to jet anywhere globally, casually lunching on sums equivalent to the average monthly salary of an Indian.
- “The UK of India”: A whopping 70 million individuals enjoying the wealth and income levels comparable to the average UK citizen.
- “The Brazil of India”: Around 700 million people dwelling in economic circumstances akin to those of Brazil.
- “The Sub-Saharan Africa of India”: Another staggering 600 million people navigating life on the wealth and income levels found in Sub-Saharan Africa.
2. Family Feuds and Hierarchy Highs
In the heart of India beats the rhythm of family and hierarchy. The cultural cadence is set by familial connections, and the phrase “I want to make my parents proud” echoes through conversations with sport and entrepreneurial titans. Hierarchy, too, extends its influence, not only in companies but also seeping into the fabric of families.
3. Stock Markets on Steroids: Where the Rich Get Richer
India’s stock market is on a wild ride, boasting an unprecedented 24% CAGR over the last four years. Entrepreneurs are feverishly discussing IPOs and unprecedented levels of investments, creating a playground where the wealthy become even wealthier by the hour.
Source: MSCI India Index
4. Real Estate Raves: Middle-Class Dreams Unfolding
Real estate is the talk of the town, with developers riding historic tailwinds and a rosy outlook. The Indian middle class is snatching up properties left and right, pre-paying for homes before they even exist. A stark contrast to China’s real estate challenges, and I can’t help but wonder – is this a bubble or a brilliant boom?
5. Startups on the Rise: Europe, Meet India
The startup scene in India feels like a mirror image of Europe – rapid prototyping, venture rounds, and exits through IPOs or strategic buyers. The familiar scent of burning cash, especially in marketing, is in the air, reminiscent of the US/European market dynamics.
6. Modi Mayhem: Consensus and Controversy
While there’s a widespread consensus on Modi winning the 2024 elections, opinions diverge sharply on whether that’s a blessing or a curse. A political landscape where certainty collides head-on with skepticism.
7. GDP Growth Galore: Is 6.3% Enough for Ambitious India?
India takes pride in its 6.3% GDP growth, but is it enough for its ambitious vision of becoming a developed nation by 2047? With dreams demanding a whopping annual growth rate, questions linger – is India aiming high enough, or does it need to crank it up to 7-8%?
8. Untapped Power: The Women of India
In the corridors of family businesses, women play an active role, yet the lead roles are still reserved for men. A similar scenario unfolds in the broader work environment, leaving a vast untapped potential of women waiting to be fully integrated into India’s labor force.
9. National Pride Unleashed
Indians are proudly waving their flag, with “Made in India” becoming a rallying cry. Export stories are being replaced by tales of domestic demand, making the international circuit seem like an unnecessary hassle. Why go global when the local market is a goldmine?
Closing the Curtain on India’s Kaleidoscope: A Journey Beyond Borders
In wrapping up this whirlwind exploration of India, I’m left in awe of the nation’s contradictions and dynamism. From the stratospheric heights of wealth to the labyrinthine lanes of hierarchy, India is an enigma pulsating with energy. As the country hurtles towards its ambitious future, it’s evident that India is not just a destination; it’s a rollercoaster ride of growth, challenges, and unbridled potential. Buckle up for the unpredictable journey that is India – a land where every insight is a revelation, and every revelation is a step into the unknown.