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Should the auto sector slowdown be our biggest concern?

The weeds of India’s economic slowdown have been growing pretty rapidly over the past 12 months. There have been various stories in news of varying levels of concerns over the systematic reduction in growth of different sectors and commodities. Probably the earliest indicator was the lack of job creation across the country, and this concern got a major boost thanks to the elections with every opposition party highlighting this. I did a simple Google Trends search on the term ‘jobs crisis’ and it has been searched pretty consistently over the last year. However, given the current state of our media, apart from the opposition’s concern leading up to the elections, the unemployed haven’t found solidarity from anyone since then.

This gets me to the other end of the spectrum of attention, the slowdown in the auto sector. Again, looking at the Google Trends data, the term ‘auto sector crisis’ really started being searched from July 2019, peaking in late August and September at the time of writing this post. While any sector that is facing tough times deserves air time and attention (especially one which is facing its worst crisis in 19 years), this still is a fly in the ointment for me. India is largely a poor country with over 21% living below the national poverty line in 2011 – this is approximately 280 million people (that is over 10 times Australia’s population). The GDP per capita in India is about INR 182,500, which is a pretty misleading statistic for a country which has the number of poor people India does. Is there a more relevant measure we can look at?

Every year, Credit Suisse publishes a Global Wealth Report which analyses the household wealth of 5 billion people across the globe. I do believe wealth is a much more important metric to look at as opposed to income. For a simple comparison, wealth is the net worth of a person, which takes a large amount of time to acquire, while income is amount earned by a person for a transaction and is often immediate. When one looks at a sizeable investment in an asset like a car or a house, wealth I believe is a better measure than income. As per the 2018 Global Wealth Report, the mean wealth per adult in India is $7,024 which is approximately INR 512,752. However, this again is misleading. India has an adult population of about 850 million, and as per the report, 90.8% of the adult population has wealth below $10,000 or INR 730,000 and we still have managed to rank sixth in the world for the number of people with wealth above $50 million. Given this kind of absurd gap in wealth, median wealth would be a much better indicator than mean. As per the report, the median wealth per adult in India is $1,289 or INR 94,097. To simplify, there are approximately 425 million adults with wealth less than INR 94,097. The average Indian cannot even think of affording a car (also read this, maybe another post to discuss it later). With this in mind, should slowdown in auto sales be the concern that needs to be given so much attention to?

I do understand that the auto sector generates a lot of employment in India and propping it up would also help us boost availability of jobs. I also understand that they are large borrowers, and those defaulting would hit our already limping lending sector with a blow so hard it might be difficult for the lenders to recover. However, the jobs crisis and the lending crisis preceded the auto crisis, so the latter is not the cause of the former. In fact, this is exactly why the auto sector should have seen this slowdown coming given all the indicators, and gradually reduced their production avoiding the excess inventory problem. Now they stand in line with others in front of the GST Panel demanding a tax cut. The government meanwhile even announced a policy to replace existing government cars with new ones just to clear the auto companies’ inventories. I am not even going to mention their months of ranting over the BS VI norms and impending electric vehicle boom which is still years away for India. I do not understand why we can’t just allow them to fail, that should be the cost of doing any business, after all isn’t that what we do to small businesses when we allow more FDI in any sector?

Going back to the search trends, it is interesting to compare the two above mentioned search terms, which you can see here. As is visible, the peak for auto sector crisis is higher than that of the jobs crisis, which is what is irksome. I do understand this is a very crude way of looking at media coverage or public awareness, but I do believe it can be used as a rough trend to understand where our priorities lie generally. In this case, the backing the auto sector has received for its slowdown is much higher than that received by the unemployed millions in the country. That, I believe, is our biggest crisis.


No La Liga Broadcast on Indian TV in 2019

Back in 2009, I wrote this post, which eventually became one of my most commented on and viewed post. In the days of nascent social media, it connected me to a lot of fellow Spanish football fans most of who I am still in touch with. That was 9 years ago.

2009 was also the season when Cristiano came to La Liga, for the club I follow – Real Madrid. Since then, Real Madrid has won 2 league titles, 2 Spanish Cups, 2 Spanish Super Cups, 4 Champions League titles, 2 UEFA Super Cups and 3 Club World Cups. He finally moved out of Real Madrid, going to Juventus this season. Apart from all these trophies and awards, his stay at Madrid has been bookended by Indian broadcasters not doing the fans any favour.

Back in 2009 we had to make do with YouTube highlights (what is 1080p?), patchy live streams with 2009 internet in India. This year, won’t be as bad because Facebook has bought the official broadcast rights, so it won’t be completely absent. But given that most of India still doesn’t have streamable internet speeds and the fact that Facebook is evil, we lose again.

Not sure what La Liga is doing here though. The second largest population in the world, with slow internet, and EPL still being the most popular football property in the country, they should ideally have insisted on TV broadcast. Especially after losing one of the two most marketable footballer on the planet, you should be pushing it even more. You need more people watching Valencia, Villareal and the super entertaining Real Betis to make La Liga more popular and not give people an option to choose only what they want, which in most cases will only be the big 2 (maybe 3).

The league officially begins in 6 days, and Sony has confirmed they don’t have the rights. Inspite of consuming a lot of streamable content, I still do all of it on TV. Also, I have deactivated my Facebook account for over a year now, not sure if I can bear to go back to it. So unless one of the TV sports channels does something drastic, I might be stuck with minimum football again this year, especially after watching one of the best World Cups ever.

India’s La Decima

I am a big sports fan. A big football fan. And a huge Real Madrid fan.

Last year, Real Madrid won the tenth European Championship for clubs. An undeniably massive feat. It was an absolute pleasure to watch the match where they won it all with fellow fans. Ecstatic. Delirious. Are some of the words that can describe the night. And also emotional.

The tenth trophy has been hyped up and blown up by every fan and follower of the team. It is the mythical number no team has ever reached. It didn’t matter that no team has ever reached 9 either. It is something about the tenth, or La Decima. Players and fans have been praying for years for La Decima. And once they won it, you could see players cutting their beloved long locks and colouring their beard blonde in an apparent display of their resolutions being successful.

A couple of weeks back, I got the chance to visit the practice sessions of the Jai Jawan Mandal thanks to my friend Radhika and her MPhil thesis. The Jai Jawan Mandal is one of the many associations of young men and very few women in Mumbai who wait for an entire year for one day. The day of Gokulashtami. The birthday of Lord Krishna.

This is a festival, celebrated by mimicking the God’s famed liking to homemade butter. His mother would tie the pot of butter to the roof to keep it away from little Krishna, but he would find ways to break the pot for his butter. Today, we celebrate by building human towers to reach a pot of butter tied high up. As with anything involving men and a crowd gathering, it took the form of a competitive sport where the higher your tower, the better you are. Meanwhile, in Spain they build human towers too, just for sport.

This brings me back to the Jai Jawan Mandal. They have taken this street play and perfected it. For them this is more than a festival. More than a game, more than a sport. It is their life. Sounds familiar?

Constitution Day

I am not on Facebook anymore. It was getting quite asinine looking at memes and people arguing about who supports Modi and who hates him. I realise I still need an outlet to express what I think is asinine that actually does affect our nation. These are my opinions and as per our genuinely great Constitution, I can express it, on my blog, even if only one person reads it.

Happy Constitution Day.

  1. A 24 year old married woman has been kidnapped by her father, her marriage annulled by the High Court and she has to prove to the Supreme Court that she converted to Islam out of her own volition.
  2. People associated with an unseen and unreleased movie are being given death threats on live television.
  3. The Parliament is not in session because the Prime Minister’s home state is going for election next month.
  4. A defaulting Anil Ambani was given a defence contract no one wants to talk about.
  5. No one wants to talk about the death of Judge Loya who was presiding over the case in which Amit Shah was the chief accused.
  6. A government health minister says you get cancer because of your sins.
  7. The health ministry says pollution never killed anyone and hence not hazardous.
  8. Farmers are protesting naked in the winter and no media cares.
  9. The transport minister and railway minister are moving towards electric transport while the oil minister in the same government is increasing nation’s oil refinery capacity by 3 times.
  10. People are still watching Navika and Arnab.

26th November

I just wanted to name a post 26th November to tell everyone that I’ve not forgotten and will never forget that day and the lives lost.


Not Worthy

There are certain things that you come across at various points in your life (hopefully) which immediately gives you a sense of such pleasurable bewilderment that you start wondering if you deserve what you are feeling at that very moment. It could be absolute unbridled love towards you by someone or something you experience someone has created. Regardless, either by fate or providence, and seemingly nothing of your doing, you are just present.

Love, in most cases, hopefully, is more or less deserved; the creation however. This creation is not the creator’s only creation but is unlike any other because this one was created only for themselves. It could be a piece of music, a book, a statue, a building, a painting, an inning, a performance, anything. If you experience it the way it is meant to, isolated from everything else, you get so enamored by it you barely realise that you’ve essentially left your plane of existence and entered the creator’s. That moment, you don’t care about externalities, it is just you, the creation and the creator. The next moment you feel you are so lost inside the creator’s world, you get the sense that you might actually be invading their privacy and maybe you’re not supposed to be there. Maybe you’re not meant to have this experience and it is meant only for the creator and no one else. You are not sure if anything created by a mere human could be so fascinating. Should it be so fascinating? And maybe it is so because that was the sole purpose of that human. You begin to wonder why you deserved to experience what you just did. You’ve never met or will never meet the creator and yet somehow you just entered their realm for the briefest of moments. Are you even qualified to feel what you just felt?
You understood the creation enough to feel all this, you could appreciate it to the extent not everyone can or will. You definitely earned what you felt. 

The creator was probably not brought on earth to create that piece, but maybe to make you experience what you just did.

Why travel?


Why read a book if the person who read all the words in it is the same person who first saw the cover?

Why watch a film if the person who reads the end credits is the same person who bought the ticket?

Why draw anything if the person who signs it is the same person who saw the empty sheet?

Why paint a picture if the person who washes the brushes is the same person who first drew out the colours?

Why write an essay if the person who puts the last full stop is the same person who wrote the title?

Why travel when you are the same person when you return home as the person who locked the door when you left?

Johnnie Walker short film about its branding

A brilliant one shot film on the Keep Walking idea. As good as a 6 minute case study on branding.

Airtel Vs Vodafone 2

I had posted earlier about the Airtel ads and how they are similar to the Vodafone ads.

I have seen a few more from the Airtel campaign, and I have to say, I don’t get it! Why would Airtel risk doing something like this?

The ads look similar to Vodafone, they don’t look anything like the other Airtel ads, and the most noticable thing in Airtel ads – the music – does not come in until the last 5 seconds! So, how is it helping the ads stay in the viewer’s mind?

Usually, an ad can be associated with a particular brand, if there is the usual peculiarity. Like the music in case of the telecom ads. All of them a peculiar music of their own which have become popular in their own right. However, Airtel (which incidentally has the most popular of these, thanks to A R Rehman), is just ruining it. The least they could have done was flashed the Airtel logo at the beginning itself. Most brands like to keep the viewer guessing about the brand, but in most of these cases they get it wrong. They would be better off by showing the brand earlier on and showing it a couple of more times by the end. Especially in this case where people are confusing it to be a competitor’s ad!

Come on Airtel! You can do better!

And so the Marathon begins…

I have registered for the Standard Chartered Mumbai Marathon 2010 and successfully begun training today.

I trained with my Jai Hind friend Mohit Saxena and we jogged close to 1.5 KM today and walked 1.5 KM. So on the first day, we have reached half the dream run 😛

Hopefully I will be able to reach somewhere with this. I have to keep this up and convert this into a more complete and longer run. Also, have to take care of my diet to build up the stamina I will need from now on!

Too much to take care of while doing an MBA! Any suggestions and tips?