Patel on India (Pt. 2)
An Indian friend told me a few years ago how cheap things were in India. I asked him why he didn’t go home and live like a king. He said, “There’s nothing to buy there.”
From my conversation with Shashin, I learned that because of the tariffs and quotas being reduced, the stores are full of merchandise. One can buy anything available anywhere else. The cost of labor is very low. Someone does the laundry. Someone cleans the floors. Someone prepares the meals. The master and mistress live in a fairy tale world. To democratic western minds this may seem decadent. India has a billion people. Every one needs to make a living somehow. To do one’s own laundry is to deprive someone else of a meal.
I also learned that 50% of the population is under 25. Parents and the government are highly focused on making sure the children get a really great education. What does this mean for the future of India?
Shashin Patel’s web page is http://www.hospitalitygrp.com
David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com
Showing posts with label India. Show all posts
Showing posts with label India. Show all posts
Friday, May 9, 2008
Sunday, May 4, 2008
Patel on India (Pt. 1)
Patel on India ( Pt. 1)
My friend Shashin Patel recently returned for 7 weeks in India. I took the opportunity yesterday (5/30/08) to interview him for our benefit. He noticed some big changes.
One of the most noticeable changes was the availability of all types of merchandise in the stores. The current prime minister, who is an economist, has reduced the tariffs and other blocks to incoming merchandise. Corruption has been reduced because the people are totally fed up with it. There is fear of getting caught among government officials.
Foreign investors still have to have an Indian partner who owns more than 50% of the venture; but because of the tremendous growth in the economy and the improvement of the general prosperity, the investors are coming in. Investors are allowed to repatriate their profits. India’s attractive lifestyle is attracting people and helping to keep the people who are there. That will be the subject of the next blog.
Shashin Patel’s web page is http://www.hospitalitygrp.com
David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com
My friend Shashin Patel recently returned for 7 weeks in India. I took the opportunity yesterday (5/30/08) to interview him for our benefit. He noticed some big changes.
One of the most noticeable changes was the availability of all types of merchandise in the stores. The current prime minister, who is an economist, has reduced the tariffs and other blocks to incoming merchandise. Corruption has been reduced because the people are totally fed up with it. There is fear of getting caught among government officials.
Foreign investors still have to have an Indian partner who owns more than 50% of the venture; but because of the tremendous growth in the economy and the improvement of the general prosperity, the investors are coming in. Investors are allowed to repatriate their profits. India’s attractive lifestyle is attracting people and helping to keep the people who are there. That will be the subject of the next blog.
Shashin Patel’s web page is http://www.hospitalitygrp.com
David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com
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