Bloglet on Personal economy
Friday, November 17, 2006
Rakesh Jhunjhunwala’s net worth is close to USD 1,000,000,000. Does the IT dept. read our website nah just kidding we are all happy for the wealth he has generated for himself as well as for a lot of people like us on Dalal Street. Congratulations Jhunjhunwala !!! Maybe we should celebrate the day your net worth becomes $1,000,000,000 just like INFY did after achieving their first billion in sales a few years ago. And then onwards you can start competing with the net sales of Infosys which is not growing so fast anymore. I’m sure you have a chance of beating them by 2010.
Investment bankers are happy to serve a set of new customers with people having $500,000 to invest. Hmm these are all probably tax-payers but we are all sure that there are more rich people who also have a net worth of more than a million dollars and already invest on their own. However they can’t come into the open because they know Uncle Sam is watching. Does anybody know the amount of bank accounts these people have or the number of applications they file when applying for an IPO, you’ll be surprised. Those were the days when staying rich in the dark was considered the act of a real rich man. The current socio-economic condition will put pressure on these people.
And then there are people talking about shopping big toys like a bimmer (BMW) that costs a hundred and fifty grand USD, or a Rolls Royce that costs USD 600K. And finally a $160 bottle of wine that these rich women are sipping late in the night.
Looks like everyone is talking in terms of USD these days, Rupee is too small a unit of currency. Woh! woh! wait a second now, let’s not get too excited and start calling our currency a dollar….let’s just save the future politician sometime by not giving him an opportunity of renaming the Indian currency to Rupee in the year 2500 AD!!!
I’ve been a regular reader of Businessweek, Forbes and Economist ever since the dot com boom and have watched the number of articles on India, Indians, or Indians in US appear in these business magazines grow rapidly. Every issue now has at least 2 articles related to the India/Indian.
Everyone is excited about India except China, which is claiming that they will NOT let us overtake them economically. Let’s NOT let it happen, We’re a democratic and a truly secular country. Let’s work hard and we’ll be a true free country with freeSpeech and freePress than any other nation on the face of this earth. Jai Hind !!!
posted by Webmaster @ 2:21 AM,
1 Comments:
- At 8:23 PM, sasi said...
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China recognises India's strength,given President Hu's visit o India.It is more interested in India's huge market.The Chinese economy will still be no match for India's private companies,who will soon move into other countries and
become multinationals.
There is no transparency in China's economy and one day or the other the real story will be known.Its manufacturing is at the expense of the poorly paid hard working labour,exploited by western companies,for their balance sheets.
