Indian Growth Story is Consumption driven

Local stock market pundits often talk about this. Indian growth story is based on local consumption and not based as much on export as say China.

I was brought up in an era of shortages. Shortages of all kinds. Cement, Kerosene, Rice, Sugar, Tires, what-have-you. We were taught frugality. Conspicuous consumption was crime. Leaving food on plate was crime. Eating in restaurant was crime. Too many clothes. And so on........

Now, there is a new spin on all this.

Consume more to help the economy. Consume more to generate jobs.

Therefore, every time anything is robbed in front of us, our only hope is: Not that criminals will be brought to the justice but loot will be spent locally!

Artist : Richard Decker The New Yorker 2 May 1959