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The Lamplit Sales Graph
Consumer Trends

The Lamplit Sales Graph

Festivals, the world over, are usually boom consumption time-when people know they have to spend, they are in a mood to want to spend, and they do plan ahead for the expenditure. Festival sales are therefore a barometer of how good or bad consumers are feeling about the size of their wallets and about spending. In consumption-driven economies, that is a critical determinant of economic growth. If spending doesn’t happen even at festival time, it is pretty bad news and a barometer of how good or bad the consumer economy is, the same way the prices of bellwether stocks tell a story. Last year, the world watched with bated breath to see what retail sales in America would be during the holiday season of Christmas and New Year. It was this indicator that would reflect exactly how bad things really were. If people decided to economise on that most sacred […]

March 12, 2013
Elastic @ Work
Corporate Governance

Elastic @ Work

My 27-year-old niece works flexi time at a big business technology consulting firm. “I don’t see why I need to go into office at all, except once in a while when it is really necessary,” she reasoned, shrugging her shoulders. “In any case, my boss comes into work once a quarter, I have a colleague in another office who is rated to be a top performer who hardly ever gets to work, and there is the hot-desking system in my office, so I don’t even have a permanent place.” (Hot desking is an office organisation system which involves multiple workers using a single physical work station or surface during different time periods. ) SMART OFFICES How do you connect with other people and work collaboratively, I asked her. With state-of-the-art communication systems, it turned out. “The other day, my boss asked me if I got what she was trying to […]

March 9, 2013
An Open Plan
C'est La Vie

An Open Plan

When the husband and the contractor renovated the house. My husband has a home renovation fetish. He itches to break down walls, paint them, alter window heights and enclose balconies. I am not enthused by the whole process. I have a theory that painters take as long as they do because our homes are more comfortable than theirs and there is a dis-incentive for them to finish their work. They get paid on a daily rate, and they certainly enjoy a nice afternoon snooze alone in the room that is being painted, get tea and cold water twice a day, or more if they ingratiate themselves with the household help. I walked into the house yesterday to find all the pictures taken down, and a happy husband telling me that the painters would arrive tomorrow. I protested violently that I hadn’t been consulted, to which he said I had been, […]

February 3, 2013
Time to Share the Pain
Policy Perspective

Time to Share the Pain

As prices rise and subsidies are cut, India needs some more socialism to keep markets working Recent economic policies may give stock market investors reason to cheer, but many Indian households are in pain and it is about to get worse. The ‘there-is-no-choice’ discourse propagated by analysts and business leaders is that the price rise of cooking gas, telecom, diesel and train fares is good for aam aadmi because it will make industry more profitable, reduce the fiscal deficit, cut interest rates, inspire more confidence for investment and individuals to borrow to spend, and lead to a higher GDP growth rate number. As a result, many Indians will have opportunities to earn more, spend more and live better. India will become a more attractive FDI destination and that will, in turn, lead to more benefit for aam aadmi. Maybe we will understand the human consequences of economic reform better and […]

January 28, 2013
When Dad Became Mom
C'est La Vie

When Dad Became Mom

Role reversals when a pet adopts a parent. For over 11 years, we had a neurotic Dalmatian, Prince, who disliked people. He snapped at almost everyone, and bit those who made him particularly nervous. Whenever we took him out, children, drivers and watchmen in the building would say, “Hey bhagwan, yeh to danger wala hai (Oh god, this is the dangerous one)” and hurriedly move away. I used to think how nice it would be if we had a dog who loved people. And then we got Zak, our Labrador. Zak adores the human race. Yet, when we take him downstairs, everyone says, “Hey bhagwan, yeh to masti wala hai (Oh god, this is the mischievous one).” They hurriedly move out of the way as he tries to hurl himself into their arms and kiss them on the lips. Even the other dogs in the building don’t play with him. […]

January 13, 2013
It’s a main, it’s a side, it’s Brinjal
C'est La Vie

It’s a main, it’s a side, it’s Brinjal

The happily-ever-after formula at the dining table. Being a creature of habit, I still use the original plug point and spend many an evening guarding my precious computer from man and beast. Rajat bhai and my husband faithfully replicated all the flaws in the old flat as if their sense of well-being depended on that. It reminded me of the joke about the man who married a second time and no matter what wonderful things his second wife served him at breakfast, he would shake his head mournfully and say, “Not like what my first wife made”. Accidentally one day, she burnt the toast and ruined the coffee. Her husband beamed and said, “Exactly like my first wife made it”. I used to feed my daughter watery rasam and squishy rice with my hand, which prompted my usually taciturn father-in-law to offer me a spoon and at the same time […]

December 23, 2012
Cross Connections
India My Land

Cross Connections

In the markets of touristy Jaisalmer, you find, not economic trickle-down, but the global culture trickling down Driving From Jodhpur to Jaisalmer through the stark empty road with open spaces on either side, and no visible economic activity for miles and miles, my husband asked in a worried tone, every 10 minutes, “How will trickle-down ever get here?” Until we got to Jaisalmer and saw the main street, which looked a lot better than Warden Road, Mumbai, where we live. All the hotels were lit up like the big buildings of Mumbai. Where we live. All the hotels were lit up like the big buildings of Mumbai on Maharashtra Day and Independence Day. So what’s the occasion, we asked our escort. No occasion, he replied. It’s must the tourist season. “But do you have enough electricity? Are there power cuts and inverters in my mother’s house in Hyderabad. None at […]

November 30, 2012
People Ready, Policy Lags
Policy Perspective

People Ready, Policy Lags

Indians are using mobile and digital services in innovative ways, but policy must ensure low prices Indians, rich and poor, educated and uneducated, have all discovered the magic of mobile and of internet enabled services. ‘Product-based’ metrics like internet penetration, number of users and their activity levels or even share of smart phones to total phones nowhere near tell the story of the how central these services have become to Indian society. A people-based understanding will reveal a very high ‘digital quotient’ for all Indians, including the less privileged ones. Policymaking around issues that will impact the pricing and regulation of these services must fully take into account why and how this ‘public good’ is truly for the public’s good. In India, in addition to personal or household ‘ownership’, there is ‘regular access though I don’t own it’— my cousin has it / he created my email ID and manages […]

November 26, 2012
Que Sera Sera
C'est La Vie

Que Sera Sera

Where would one go shopping for strength of the human spirit? The late Ramesh Balsekar was a sought-after spiritual guru who I met by accident (though he would aver that nothing is by accident – it was all meant to happen). My former boss gave me a pile of Balsekar’s books to read and suggested that I put aside my scepticism and meet him at least once. Since the boss usually did a good job of broadening my education, be it exploring the seamier side of Paris or learning not to agonise after sounding idiotic in a television sound bite, I went. Balsekar was past 80, an ex-banker with elfin humour. He was not fussed about people calling him “Ramesh”, told jokes and stories, and exhorted me to come for his morning satsang sessions which were filled with foreigners seeking spiritual bliss. “Come, it’s the best entertainment in town,” he […]

November 11, 2012
Cut! Zoom in on Board Chairman
Corporate Governance

Cut! Zoom in on Board Chairman

More prattle on independent directors cannot fix governance, the chairman’s role remains terra incognita While decision-making in most boardrooms continues to be governed by “come on, let’s be reasonable” rather than “this is the right thing to do”, the good news is that there has been a quantum jump in public discussions on improving corporate governance (CG), not to mention the predictable increase in the number of awards instituted for the same! Board evaluation and performance improvement and director search and training are emerging as high-demand, new consulting areas. Hopefully, all this focus will soon raise the bar on governance quality. But for that to happen, the discourse needs to be broadened beyond its single-point focus today on independent directors. Discussion on how shareholder directors and executive directors can improve the levels of CG must also happen. But the biggest omission by far that needs to be fixed is around […]

October 29, 2012
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