A blog about mobile app development, tech sales, my rants and more..
It is 3:45 AM in the morning on the day of 29th August 2013, sleepless, helpless and demotivated looking at the senseless debates running on the various TV channels ranging from the ferocious Arnab Goswami to soft spoken Vikram Chandra about the state of Indian economy.
For a moment we can forget that “three” most qualified people in this country to handle the economic affairs of India have failed and have failed beyond repair, beyond reprimand ( But don’t reprimand the incumbent govt.). Though, this doesn’t mean that the opposition is capable of handling the situation in a better way if they are to be given the command tomorrow.
This is that time in our lives and the only rare occasion when we can rise beyond the party lines, political correctness, right-wrong side of the fence, religion, regionalism or checking my last name before going further in this article. If you have understood the last few lines correctly and if you haven’t then go back.. read for god sake..And I repeat go back and read this para once again for god sake.
The $ is trading at 68.80 as I write this article in frustration (being in the IT Industry !!!) and I don’t think that it will correct itself before the next election (not before next 9 months officially ) with the policy paralysis and inability of the current government to take any concrete decision ( read succumbing to populism) it is the time we sideline our animosity, I repeat political lines, regionalism, religion and similes..Solution?
We understand that basic economic calculation says that more we bring in dollars into the country more we help cooling down the effects of the burning rupee..Simple? understood? So as an individual what we need to do is to call up/write to/ convince our friends, relatives, mentors, girlfriends, boyfriends, husbands, wives, cousins, colleagues, and anybody and everybody to send $$$ into India. For example, If your brother leaves in US then ask him to send some money to his account in India. If you do “back of the envelope” calculation then here is the number which will keep you thinking for days..
If 100,000 people transfer 100 $ ( INR 6880 ) each today then we will have US $ 10000000 being infused into Indian Economy today as you read..A very conservative figure…Let’s look at the real figure of Indians in just five country (according to numbers based on 2009 reports):-
USA: 3.18 Million (1 % of US Population) * 100 $ = 300.18 Million $
Canada: 1.16Million ( 3.5 % of Canadian Population ) * 100 $ = 100.16 Million $
UK: 1.053 Million ( 1.8% of UK Population ) * 100 $ = 100.53 Million $
UAE: 2 Million ( 42% of UAE Population ) * 100 $ = 200 Million $
Saudi Arabia: 2.4 Millon ( 7 % of SA Population ) * 100 $ = 240 Million $
If you convince friends, relatives, mentors, girlfriends, boyfriends, husbands, wives, cousins, colleagues etc. you will help infuse 900 Million + US $ into Indian economy and if the average is 1000 US $ per person then do your math. Think about NRI in rest of the world?? Go ahead understand what I am saying, read this article.
You can write back to me for my poor economic understanding, bad grammar, political affinity, or blame for being emotionally charged and I will have only one request “Please go and understand the economics of repatriation of money from Indians abroad” and also understand the pain I have.
Walk the talk you say?? A NOBODY LIKE ME…HAVE DIRECTLY OR INDIRECTLY INFLUENCED REMITTANCES OF HALF A MILLION $ IN LAST ONE MONTH. I am doing my job..What about you?
Go ahead..You are a call/email/share away to help save our economy..!!
Or You can sit on the fence and eat the popcorn while the “Cricket match” is on!!