The Slip between the Macro and the Micro

At a dinner held for captains of Indian industry, thought leaders and investors, the discussion centered on the state of India. There was a great deal of optimism shared among the majority of the attendees.

First, there was near consensus that the problems with India are cyclical rather than structural. The aspiring middle class was on the cusp of finding a voice through Social Media and technology to push for reform and governance. And since the consumer rules the wallet and ballot, the polity had no choice, but to give it a hearing and respond. It has been often remarked by outsiders that despite the poverty, Indian people are optimists, have a great spirit of entrepreneurship and are filled with hope for the future. This all spells the rise of a giant awakening slowly, but surely. The problem, as someone pointed out was the national English media, which was out of touch with the grassroots sending these bleak messages to the world. The pessimists though fewer in numbers had lot more data, facts and figures and despaired about the state we are in. They called for urgent draconian measures to reboot the economy. It is unfortunate that apart from a few, the world outside does not share our optimism and big Indian business forays into foreign markets and acquisitions in uncharted territories is hardly the right signal for investors looking to invest in India.

How is it that the positivity at the micro level does not get reflected at the macro level?

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