Year-End Summary

by Anand Lakhmani

Jan 4, 2007

I believe the year 2006 will be considered as a historically critical year in the future when we will be leading superpower of the world (am I too much optimistic?). Many defining events have happened which clearly shows that this year was "cut above the rest".

-- Bidding of Corus by Tata: Who could have thought this 10 even 5 years back?

-- Consecutive GDP growth of more then 8% - this when oil analysts were talking about oil price to touch more than $100 per barrel and agriculture growth was only 2.3 % , think and imagine the GDP growth and its impact on economy when agriculture growth would be same as services and manufacturing.

-- Indo - US nuclear deal - India no more a nuclear pariah - though there are some concerns but this formal recognition of India as Responsible Nuclear Power itself is a big achievement and the mind-blowing support it got from US congress cutting across the party lines shows the growing prowess of the NRI community, Hats off to Indian Americans.

-- Jessica and Mattoo Case - This was I believe the most cherished moment for "aam janta" particularly the Urban Middle Class, who is generally cynic about entire system (Yanha kuch nahi ho sakta), whether judicial, political, police. The outcome of these cases is definitely having deep impact on psyche of middle class public, which will be further shown in coming days. Now people have started to believe that High and Mighty ka bhi kuch ho sakta hai. Hats off to the active media particularly electronic ones. The fourth pillar of democracy is now playing its role, which is really strengthening the democracy. And this strengthened democracy will play a very crucial role to help India attains its true potential and rightful place in the world in coming years. The obvious comparison is with China. India is having/will have definite edge in the eyes of FDI investor's vis-à-vis China on the parameter of Judicial, Democratic Systems.

-- Booming Bollywood - With the movie "Lage Raho Munna Bhai" Gandhi got another birth, movies will have such a profound impact on viewers that too of Bollywood masala flick was unimaginable. Bollywood is playing a very critical role in increasing the soft power of India across the world. Rich Indian Diaspora unbridled hunger of anything Indian so that they be in touch with Indian roots is giving immense benefit to Bollywood. I believe compare to the potential of Bollywood, whatever business they are generating is really the tip of the iceberg. Definitely, Bollywood has an edge over the Hollywood as far as Asian, Latin American; African Market is concerned because of the cultural similarity. And we are definitely improving; the movies Dhoom 2, Krissh are proving it.

-- Nitish's Bihar - It was really unimaginable that Lalu would be defeated in Bihar. But thanks to the Election Commission, finally he was removed that further reinforces the belief in Indian Democracy. Now Bihar is also the participating in GDP growth and its impact will be truly visible in coming years. For India to clock double-digit growth without Bihar was very difficult. Now with the change of rule in Bihar, this state is/will contribute constructively in achieving double-digit growth for the country in coming years.

And there are many more defining events, which I might have missed; the readers are invited to add onto these.

Hope this we will continue in this path in year 2007 and further.

India is rocking the world!

Wish you a Very Happy New Year 2007.

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