This
article is slightly different from my regular write-ups on brands, products,
businesses or companies. However, I think, branding is not constrained only to
products or companies. It is very much applicable to an individual, a place or
a country too! In the last decade there is a paradigm shift in the mind-set of
the people. I keep on probing various young professionals, medical/management/engineering
students, undergraduate / school students’ in-fact their parents also. I’ve
been hearing a common goal from all of them. Believe me, it’s very
coherent! “The Dollar Dream”, each one
of them desires to settle in another country where the local currency (of that
country) is stronger than of India. The most desired locations are USA/UK/selected
European countries and now some South East Asian countries like Singapore,
Malaysia and Hong Kong.
What is the motivation behind
this?
I was very much intrigued by the insights I
recently gathered while travelling to small cities of South East Asian
countries and also some parts of UK and USA last year. We all know India’s GDP
is growing @ 8% (approx.), higher than any other country on this planet. Then
why Indians yearn to move to other countries? Let me tell you a small story of
the gentleman whom I met during this trip.
Mohan,
a native from Kerala completed his schooling in 1984 in India. One of his uncle
migrated to Malaysia before Indian independence helped him to move into
Malaysia in 1984 for further studies. Mohan finished his studies and managed a
job in traffic police department in Kuala Lumpur. He joined at a salary of MYR 5000/month plus
other benefits like house, medical and free education for his children. He
worked there for 17 years and quit his job in 2005. At that time he was drawing
MYR 12000 / month. He had some savings and with that he bought three taxis.
Currently he has 9 taxis and he is earning over MYR 50000 / month and is
residing in Penang. I asked him if he
would ever like to go back to India. He laughed and gave me an interesting
reply. He said “Sir, in India we all work for three main things, a) Basics like
food, clothing and shelter b) Good education for our kids c) Future health
emergencies”. In Malaysia Food and Shelter is provided at subsidised rates.
Education for Kids is free and if our kids want higher education in other
countries then government will sponsor it and healthcare is also free. I’d be
mad if I think of going back to India.
According
to the International Monetary Fund, India's nominal GDP stands at $1.53
trillion. In terms of purchasing power parity, India's economy is the fourth
largest in the world at $4.06 trillion. India could emerge as the world's third
largest economy by 2030, benefiting from strong domestic demand and favourable
demographics, according to a Standard Chartered Global Research study. The
major industries include textiles, telecommunications, chemicals, food
processing, steel, transport equipment, cement, mining, petroleum, machinery
and software.
India
has the world's second largest labour force with 467 million workers. About 25
per cent of the world's new workers will be Indian in the next three years. Over
half of India's population is below 25 years. By 2020, the average age of an
Indian is expected to be 29 years. India's working-age population will increase
by 240 million over the next two decades, according to Deutsche Bank. India has
the second-largest pool of scientists and engineers in the world.
Mumbai has the world's 6th most expensive
office location. The housing and real estate sector including cineplex,
multiplex, integrated townships and commercial complexes, etc. attracted a
foreign direct investment of $ 9,405 million from April 2000 to January 2011.
India stands third after the United States and
China in the number of billionaires. The combined wealth of India's 55 richest
is $246.5 billion, much higher than last year's total of $222.1 billion. India
ranks 51st in global competitiveness, 17th in financial market sophistication and
24th in the banking sector, 44th in business sophistication and 39th in
innovation, ahead of several advanced economies.
All the above facts provide an outstanding
platform for India to become an aspirational country. People from other
countries should aspire to come to India and achieve their dreams.
The future estimated growth of
the country hinges on this young population. If all that is true then why most
of the Indian’s (especially the talent pool) wants to immigrate to other
countries?
I think this question should be
answered by you!
Data Source: Rediff.com, third party reports
