Game called 'Globalization' - Part 1

Tuesday, May 18, 2010

The other day, I watching a Business TV program with group of elite people and one of the comments was that, "though people feared about globalization right from start in 90's it has done more good to India and we continue to grow in the GDP". I am trying to find answer for this, Is it true that globalization brought more benefit to India ? was it true the transition to globalization smooth with any pain ?.

My thoughts went back to 80's & 90's, hmm... brings back the nostalgic memories of those days...

As a school going kid I still remember slogan in back of the city buses or in public transport vehicles, which were normally, "BE INDIAN, BUY INDIAN" , well it looks like this slogan was the first victim of globalization in late 80' or early 90's. I don't remember seeing this slogan in from early 90's onward.

I tried to recollect the consumer brand in the Indian house hold in 80's and 90's, I could remember following brands .

Car - Ambassador, Primier Padmini.
Two wheelers - Bajaj, Lambretta, Jawa, Enfield.
Fridge - Allwyn, Kelvinator.
TV - Solidaire, BPL, Dynora, Onida, Videocon(still present).
Soft drinks - Gold spot, Limca (still present).
Phone - ITI.

It looked like, we were truly standing by the slogan of those days "BE INDIAN, BUY INDIAN", as they were mainly Indian promoted companies, so what happened to those companies which manufactured these products in the last one or two decade?

I do understand those days Indian economy was a closed economy the import tariff was very huge and hence the Indian consumer had to contend with what was offered by the manufacturers. Since my father was into business, I still remember the difficulties he used to face if he had to start an industry/business or if he had to import any component from abroad.

Globalization were unheard till early 90's, India was more contended with what it produced. So when did the game of globalization start?.

Well, will continue it in my next edition :-)...

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