What is important is that they all add to the wealth of the country and also have made several individuals rich.
At the other end of the spectrum are the small scale industries that are a lifeline for people who are not technically skilled or highly educated.
We need to promote SSIs. Maybe, next time, BT could do a feature on them.
A. Jacob Sahayam, through e-mail
The BT 500 list (DEC. 16, 2007) establishes the fact that our economy is growing at a brisk pace and that corporate India can take on global challenges. FIIs are queuing up to register with SEBI and the Sensex, despite the occasional blips, is headed in only one direction, north. In fact, for a true picture of how our economy has changed and grown over the last decade, one only needs to look at the BT 500 lists that have been published over the years. Those old issues are indeed a collector’s item.
Akhilesh Kumar Sah, through e-mail
Rein in Rupee for Healthy Growth
Your last issue on India’s most valuable companies is very informative. While the contribution of IT companies to the country’s GDP might have had come down, it is heartening to see that the loss has been made up by companies in the telecom and retail sectors. More proactive measures have to be taken by the government to stop the rise of the rupee, if it wants IT and ITES companies to do well in future. Job losses in the manufacturing and textile sectors are also huge. These issues are likely to impact our growth.
Alok Chatterjee, through e-mail
SBI must revamp to remain #1
SBI cannot afford to rest on its past glory (Can SBI Stay No. 1?, December 16). If it has to remain the leading bank, it has to devise new strategies to enhance its market share. ICICI Bank, the leading bank in the private sector, is growing at an astonishing rate, which is reflected in its market cap. SBI has an edge as it has seven well-established subsidiaries and an extensive network across the country. The bank must explore the inorganic option of growth by merging all its subsidiaries with itself to get a fairer idea of where it will stand, post-merger. Again, to unlock the true value of its subsidiaries, it is necessary that they are listed prior to merger. Capital then will get a big boost, while size would be automatically taken care of.
S. Umashankar, through e-mail
High taxes, low returns
It is surprising that Indians pay such high taxes (December 16, 2007). At least, there is no octroi in Gujarat and Punjab. This is a good step as the root cause of black money is multiple taxes. Toll tax throughout India must also go. According to one estimate, the total tax burden on a person is about 65 per cent of his/her total income. In return, what services/benefits do individuals get from the government? Even basic services that the government must provide, like roads, electricity, water, education, etc., are unsatisfactory. It’s time more people started paying taxes and the government used the money for the right purposes.
Mahesh Kapasi, through e-mail
China calling (December 16, 2007) shows how times have changed behind the Bamboo Curtain. The communist regime has, to a large extent, not let its ideology interfere with the country’s economy and also does not seek to control every aspect of life or way of thinking. China is now more accessible, which is reflected in the number of Indian professionals who are working in that country. And, in fact, it is doing our professionals a whole lot of good. A stint with a Chinese company can open doors for these executives in the Asia-Pacific region, like Malaysia and Singapore, where Chinese businesses have a good presence. For fresh B-school graduates, it’s time to brush up on Chinese.
Shahbaz Mir, through e-mail
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