Time to Shift Gears - December 2005 - Times Property (Times of India)

The journey on the global super highway is a long one, but it has certainly begun

Migration or temporary relocation has always been about adapting and adopting diverse environments; more so in case of the proverbial East - West divide. While the Indian economy is on road to realizing its true potential, hyper-activity on the part of global corporations towards grabbing a piece of the cake (read: opportunity) is in line with the country's expectations and thisis more than evident in the number of expatriates who are arriving here on medium to long-term assignments.

Government policies, climatic conditions, infrastructure, culture, language, work environment, approach to professionalism, etc. are all factors which typically differentiate between two regions, be it continents, countries, states or even cities within one country, more so, in case of a country as diverse as India. Look at this as a barrier and chances are, you may not last; but look at it as an opportunity, wherein you adapt and adopt and you will win.

A closer look at the highlights of the economy might inspire you to gulp down your woes with a glass of champagne, about what the country lacks and say cheers to the opportunity that emanates from the diversity: (See box).

While there's more to cheer for all of this, expatriates wanting to re-locate to India may expect the following deficiencies, which are more unique to India than any other nation at a similar growth path.


Difference in living standards and style of properties between other reigning  international destinations and India
       An initial culture shock is imminent even before you've landed; with the topography of the city offering you a view which spells disparity in the socio-economic sense, what with some of the largest concentration of slums fighting for space in a city also known for some of the swankiest sky-scrapers.
       Weather conditions and pollution makes city living in Mumbai or any other metro relatively more demanding on basic health and fitness
       Layout of most of the existing, older apartments is designed for the Indian way of life, except for the emerging apartment blocks and serviced apartments, which have a global appeal. (According to country needs)
       More of apartments than independent houses in Mumbai
       Emergence of apartment blocks and serviced apartments focused purely on lease to expatriates
       Dependence on stand-alone recreation clubs for amenities such as club house, pool and recreation for kids, except for a select few projects
       Intra-city travel is an ever-growing challenge on your time schedules, although the state is doing its best to ease this by building flyovers and sub-ways. However, inter-city travel is increasingly getting better by the day, with new entrants and competition in domestic airlines hotting up.
       Lack of city planning, as demand for residential and commercial properties far outpaces supply and except for South of Mumbai, the rest of the city has not followed a global benchmark
       Daily needs supplies: In an emerging era of super and hyper markets - local stores still rule owing to their absolute proximity to residential hubs
       Relatively easier to find helping hands for odd jobs


While the above-mentioned inputs relate more to housing and infrastructure, with the city of Mumbai as the benchmark, there are certain inherent road-blocks in the country as actually seen through the eyes of an expatriate. Senior Vice-President (South Asia) of APL Co. Pte Ltd Kenneth Glenn says, "The initial "culture shock" that accompanies any international relocation has been replaced but an acceptance that every place has its pros and cons and India is no different. On the positive side the booming economy provides a great work environment that is simultaneously exhilarating, demanding and rewarding. The people are warm and friendly (except when driving a car!) and share the enthusiasm for India's future.

"On the `less positive' side, the road and driving conditions are without question the worst I've ever seen and I've traveled in 38 countries around the world. Quite simply there is no excuse, except incredibly poor governance, that would allow for such infrastructure deficiencies.

"Also, retail shopping is a big disappointment. The quality of shops and goods is very poor, which only begs the question why the government does not allow increased Foreign direct investment in this sector."

Despite these woes, one common characteristic that every expatriate vouches for is the warmth and hospitality of the average Indian. The journey ahead is long, but it has begun for sure. What the country needs the most is the right people at the right places to steer through, shift gears with the freedom to accelerate in order to take the lead on the global super-highway. It's a sturdy and dependable vehicle we have here though..


Say Cheers!
       The Indian Economy is now ranked 12th in the world in terms of GDP.
       Large and growing domestic market; increasing purchasing power and consumerism
       Provides opportunity for competitive advantages (with low cost sourcing of products and services and exceptional quality of goods and services)
       Among the largest concentration and constant churning out of intellectual talent with English as a primary spoken and written language; which enables a seamless transition for the average educated Indian into meeting demands of the corporate world.
       Barrage of opportunities across industries; whether it be green-field or conventional; manufacturing, agriculture, services, bio-technology, software and BPO, tourism, financial services, etc.
       The country is emerging as a hot spot for outsourcing products and services due to its potent combination of cost efficiencies and core competencies.
       Strategically located in a time zone which compliments operations to be controlled both from Europe and America
       Real Estate (Usually the largest contributor to the GDP of every matured economy): Market size US $12 Billion growing at 30% annually
       100% FDI (Foreign Direct Investment) in large projects and Townships.
       Witnessing the birth of a slew of Real Estate Mutual Funds, which will result in the sector re-structuring itself and becoming more transparent.
       A vibrant and well-regulated stock market. Also one of the rare economic destinations which houses two high-volume Commodity Exchanges, which can be supported only if the agriculture sector, as a basic feed, is strong enough.
       Demographic profile: Total population below 25 years of age is 547 million
       An extremely active media
       Above all, an urgency which one can sense among personnel and organizations to better the past and be globally competent.