A recent news widely made headlines that A leading industrialist of India bought her wife an executive jet as birthday present, costing tens of millions of dollars.
In a country where 35% people survive on less than a dollar day and 70% on less than two dollars a day, out of one billion plus people, being rich is not as glamorous as it is made out to be.
May be investing the money into starting more industries might have helped the economy and poor, instead of buying a jet for a house wife; who could deserve the biggest pack of fancy washing powder at the most. Where she may have to go?
The money through jet purchase might only return as investment that will benefit the economy of the Jet making country – more than to India. Talking of investments, India attracts FDI in a year what China gets in a week. But ten times of the investment-that comes in-flows out of India, in mostly buying assets that are not expected to make profit in the short or medium term. And this trend is applauded as the success of globalization by some Indian intellectuals, while the foreign ones applaud the democracy in India.
This particular businessman is currently eyeing the retail sector and may help in eroding a few of the jobs of 45 million retailer in India. He may not look as glamorous as Bill Gates, who makes his money while continuously adding to the intellectual capital as well. So, to buy a jet for his wife on her birthday may suit to Bill Gates, but not an Indian businessman, as executive jets are also made in the USA.
And it is the Bollywood – an industry that survives mostly on black money – stars, who are mostly on tours abroad to present a dance show to the NRI community and at times to the Mafia dons, for the better pert of the year, who end up paying the highest tax to the government of India and not this jet-gifting businessman, (who later described his wealth as Maya).