(Walter Vieira is a Fellow of the Institute of Management Consultants of India (FIMC). He was a corporate executive for 14 years and pioneered marketing consulting in India in 1975. As a consultant, he has worked across the globe in four continents. He was the first Asian elected Chairman of ICMCI, the world apex body of 45 countries. He is the author of 16 books; a business columnist; visiting professor on marketing in the US, Europe and Asia. His latest books are “5 Gs of family Business” with Dr Mita Dixit and “Marketing in a Digital/ Data World” with Brian Almeida. He now spends most of the time in NGO work.)
Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam
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Over a period of time, I have made many visits to Dubai, and I do marvel at the continuous improvements. The main reason, in my opinion, is that their rulers had a vision, invited the best brains to continuously improve the Emirate, permitted foreigners to run their businesses with tax free benefits etc. More than 70% of their population consists of Foreigners.
Their rulers have poured money back into their country to continuously improve, while our politicians have only enriched themselves. A total lack of dedication. Even now, the only interest is in one's self and one's party remaining in power.
I first visited Dubai 40 years ago, when Sh Zayed Road was a patch of sand, and have lived there for two decades starting a decade later. I have seen Dubai "Past" and "Present". If one only talks about audacious planning, precise execution, quick decision-making, lightning speed in everything - yes, Dubai is to be applauded. The result of these is the glitter which a casual visitor like Mr Viera is meant to see.
But below the surface there are many other things which one does not see. But I will leave that unsaid.
The core point - can India emulate Dubai? The answer, to my mind, is a resounding - NO. A nation is about its people - in India's case all 130 crores of them. No "progress" can be real unless it is shared all around, if not equally at least to a reasonable degree.
Whether India at all needs "smart" cities or bullet trains is questionable, and acquiring these at the cost of diverting resources from the bottom end of society is clearly not the Indian way. Yes, others do it, China for example, but not for us, thank you.
All bonded labour . Who would stay there willingly ?? All that glitters is not Dubai
There are Indians with companies started who treat others like low level labours .. exploited badly like in colonial era