This is an interesting mail...Please read !
Is the Nation in a Coma?
Europeans believe that Indian leaders are too blinded by new wealth and deceit to comprehend that the day will come when the have-nots will hit the streets.
Mohan Murti :A few days ago I was in a panel discussion on mergers and acquisitions in Frankfurt, Germany, organised by Euroforum and The Handelsblatt, one of the most prestigious newspapers in German-speaking Europe. The other panellists were senior officials of two of the largest carmakers and two top insurance companies — all German multinationals operating in India. The panel discussion was moderated by a professor from the esteemed European Business School. The hall had an audience that exceeded a hundred well-known European CEOs. I was the only Indian. After the panel discussion, the floor was open for questions. That was when my "moment of truth" turned into an hour of shame, embarrassment — when the participants fired questions and made remarks on their experiences with the evil of corruption in India. The awkwardness and humiliation I went through reminded of The Moment of Truth, the popular Anglo-American game. The more questions I answered truthfully, the more the questions get tougher. Tougher here means more embarrassing. European disquiet Questions ranged from "Is your nation in a coma?", the corruption in judiciary, the possible impeachment of a judge, the 2G scam and to the money parked illegally in tax havens. It is a fact that the problem of corruption in India has assumed enormous and embarrassing proportions in recent years, although it has been with us for decades. The questions and the debate that followed in the panel discussion was indicative of the European disquiet. At the end of the Q&A session, I surmised Europeans perceive India to be at one of those junctures where tripping over the precipice cannot be ruled out. Let me substantiate this further with what the European media has to say in recent days. In a popular prime-time television discussion in Germany, the panellist, a member of the German Parliament quoting a blog said: "If all the scams of the last five years are added up, they are likely to rival and exceed the British colonial loot of India of about a trillion dollars." Banana Republic One German business daily which wrote an editorial on India said: "India is becoming a Banana Republic instead of being an economic superpower. To get the cut motion designated out, assurances are made to political allays. Special treatment is promised at the expense of the people. So, Ms Mayawati who is Chief Minister of the most densely inhabited state, is calmed when an intelligence agency probe is scrapped. The multi-million dollars fodder scam by another former chief minister wielding enormous power is put in cold storage. Prime Minister Manmohan Singh chairs over this kind of unparalleled loot." An article in a French newspaper titled "Playing the Game, Indian Style" wrote: "Investigations into the shadowy financial deals of the Indian cricket league have revealed a web of transactions across tax havens like Switzerland, the Virgin Islands, Mauritius and Cyprus." In the same article, the name of one Hassan Ali of Pune is mentioned as operating with his wife a one-billion-
(The author is former Europe Director, CII, and lives in Cologne, Germany. blfeedback@thehindu.co.in .) © Copyright 2000 - 2009 The Hindu Business Line
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