India's very own version of the electric car is likely to hit the roads in a few months. Ratan Tata, chairman of the Tata Group recently stated that Tata Motors will be ready with one by September this year. In addition to this, there has been news floating around the world's smallest car, the Tata Nano being launched in the United States within the next two years. Apart from this, it is also planning to launch the vehicle in Thailand and other markets in South East Asia. This will be a strategic move by the company as it plans to use Thailand as its manufacturing base to export its products to other countries. In India, the car is expected to hit the roads by July this year.
It is important to look at the holistic picture and have an individual opinion rather than get swayed away by the public consensus. This is the view of the man who pioneered the retailing boom in India - Mr. Kishore Biyani, the founder of India’s largest retailing company - Pantaloon. In an article in the Wall street Journal, Mr. Biyani wrote, "Almost daily doses of bad news on television screens and newspapers have possibly done as much damage to the economy as the events on either side of the Atlantic." I completely agree with him. Mr. Biyani’s predicament is based on the fact that an overwhelming majority of Indian consumers are self-employed, who can neither get laid off nor can have pay cuts. Consider some statistics he has provided. The share of the national income represented by proprietor-run concerns and partnerships is 35%. The share of companies is around 15%, government around 25%, and agriculture around 25%. Combine agriculture and the self-employed in industry a...
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