India Missing

Hopefully India’s ruling class was listening, not just viewing, to the last of the US Presidential contenders’ debates this morning, our time. It was a wake up call on the economy front, not just because of the early hour. And, no, not for what Barack Obama or Mitt Romney said, but because they said nothing. Even when they sparred on the jobs lost, the Indian angle was missing. It was to “China and others!”

Some years back, with 9 per cent-plus growth, India was the toast of the world, and the US. Obama had called India the ‘risen nation’. Washington and New Delhi finally seemed getting closer, overcoming the peculiar legacy of an uneasy relationship between the two largest democracies. Suddenly, all that bonhomie seems over.

Principally, the blame may lie with India. The US has been backing India in its anti-terror efforts at all fora. But the quid pro quo has not come. Washington must be most disappointed with New Delhi’s waffling on serious foreign investments. Actually, the loser is India as it now gets only some portfolio investment that is notoriously fickle to boot. And, when the government has made some glacial moves, they have been politically stymied. India is still to open its banking and insurance sectors. Then, the off-putting corruption revelations.

Really, can the US, or any other country, be blamed for ignoring India? For all the big talk of our political class, the sad truth is forget a chair, we don’t get a stool at the world high table. We, the aam aadmi, must also wake up to the reality that if our political class continues in its ways, we cannot catch up with China warts and all.

COMMENT NOW