And the award goes to…?

Who should be the Person of the Year?

As always, there are many contenders.

Last year, this award went to the Higgs Boson (God’s particle) symbolising ‘mankind’s spirit of curiosity’. Kudos to those scientists for a Nobel prize this year.

But, the award for diplomatic chemistry this year can be claimed by Vladimir Putin to ensure it was UN inspectors and not US soldiers that entered Syria. Obama had a battle at home with Republicans who termed Obamacare a weapon of mass fiscal destruction. But, then, the handshake and the phone call to Iranian President Hassan Rouhani raising hopes for peace in West Asia, show that Obama cares.

I thought of Angela Merkel, the angel of Euro Zone, for winning German hearts a third time. ‘We will do whatever it takes’, thus spake Mario Draghi of ECB. And vroom, even PIIGS are flying! Hedge funds are eyeing an ‘emerging’ Greece. It’s party time for investors in Europe. Though not for Berlusconi’s bunga bunga types.

4-D effects In Asia, the structural reforms announced by Shinzo Abe and Xi Jinping have raised hopes about these two giant economies while the Pacific is witnessing 4-D effects better than ‘Gravity’.

A thundering Debate and a grand Deal in Bali for global trade, the Dangerous Dispute over Senkaku Islands between Japan and China, the Demonstrations in the streets of Thailand and the Devastation caused by typhoon Haiyan. Nature’s fury in Uttarakhand and the Philippines has sent a strong message on climate change; is the jury still out?

We weren’t part of the era when Mahatma Gandhi lived but were lucky to have Nelson Mandela. He was the pinnacle of patience and the most enduring icons of peace and equality. Madiba in his signature style shirts is the ultimate symbol of the power of hope. We love you, Madiba.

Wankhede stadium cried along with a billion fans when Sachin Tendulkar walked out. Viswanathan Anand remains my Bharat Ratna despite losing the championship to young Magnus Carlsen. I like what the legendary football manager Alex Ferguson said, “as long as there are games to play, it is not over.”

I thought of Ben Bernanke who moved global markets with mere words during his tenure (green shoots, taper). Will Janet Yellen retain Ben’s helicopters near Fed’s printing machines? Amidst the noise on QE taper, emerging markets witnessed a roller-coaster and gold lost its glitter. Maybe, the gold bugs are bedazzled by the Bitcoin mania. The virtual world has voted with quantitative clicking against the fiat currencies.

Saved from getting ‘rupeed’ The developed economies might be facing anaemic growth, but stock markets are singing, ‘ It’s our party, we can do what we want.’ Only time will tell if this is the beginning of a ‘great rotation’ or another bubble in the making.

The Nobel for economics this year has re-ignited the debate whether markets are ‘efficient’ or ‘deficient.’

Diageo, Etihad, Unilever, GSK and FIIs are coming with money bags while Indian entrepreneurs and investors stand in the exit queue. Foreigners may well have the last laugh.

It required a “R… Rajkumar” (Raghu-ram Rajan) to save Indian markets from getting rupeed (new verb meaning a steep fall). His “100 small steps” could well be a giant leap for the Indian financial system. P. Chidambaram has done a herculean task to ensure India remains a respected BRIC and not a club member of ‘Fragile 5.’

Excess grains are rotting in the government warehouses while food inflation continues to run faster than Milkha Singh.

How India got into such stagflation is a million onion question. India sent a rocket to Mars while putting some mighty politicians and journalists behind bars.

The institutions are coming of age. The stupendous rise of Aam Aadmi Party, judicial activism, a watchful media, enthusiastic participation from young voters for a decisive mandate in favour of Growth and Governance (2G) indicate the silent transformation under way in India.

His journey from a ‘tea stall boy’ to most favourite PM candidate shows the power of India's democracy. He comes across as a tiger amid sheep in the political jungle.

Catching the imagination of people, unparalleled in recent history, makes Narendra Modi one of the strongest candidates for the award.

In Pran, Bollywood lost one of the most versatile actors this year. One of his hit movies, “Love in Tokyo” had a song, mujhe tum mil gaye, humdum (I have got you, my companion).

Sayonara, sayonara It’s a coincidence that Manmohan Singh extended his official visit by a day while visiting Tokyo. Maybe he was singing another famous song of this movie, Sayonara… kal phir aavungi , meaning, “good bye for now, but I promise to be back tomorrow.” Japan’s Emperor Akihito re-visited India after 60 years.

Their Prime Minister is likely to be a special guest on India’s Republic day. The Delhi-Mumbai Industrial Corridor will not only be the poster boy of the next phase of economic development but also of the extensive collaboration with Japan.

India needs finance and technical expertise to meet its humongous need for infrastructure. Japan can offer both. India has a great demographic dividend while Japan has an ageing population.

Strategically, both Japan and India need each other to counter-balance China’s rising influence in the region. Over centuries, India never attacked anyone, and Japan would have hardly spared someone. So, this partnership will be interesting.

The seeds of partnership between these two powers will be remembered as one of the most defining moments in the history of Asia in this century. ‘Love in Tokyo’, a new script of India-Japan partnership, is my “Person of the year 2013.”

Happy New Year!

( The author is CIO, SBI Mutual Fund. The views are personal. )

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