The Change Mariner

As India's Economy Rises, So Do Expectations

New York Times:

Though business is booming at the software company he founded here, Bit by Bit Computer Services, expenses for his traditional Indian wedding, planned for the end of February, are slowly spiraling beyond his budget.

First, he has to entertain his guests lavishly at a riverside resort two hours' drive from the city. He has booked it for three days of celebrations. Among the guests will be a handful of his overseas clients, mostly from Britain. The hotel stay for them and some other guests, along with the wedding feast expenses, will add to the bill, which is nearing $25,000. And that does not include the outlay for the honeymoon in New Zealand with his bride, Usha Kempegowda.

"The upbeat Indian economy is not helping me," Mr. Shenoy lamented half seriously. "I find people's expectations have shot up and I'm spending 10 times more than I would have spent some years ago."The economy is indeed buoyant. Gross domestic product grew 5.7 percent in the country's first quarter, which ended in June, then jumped 8.4 percent in the next quarter, compared with levels the previous year. And the bounce is being felt across nearly all business sectors.

Posted by Bob King at January 30, 2004 05:49 PM | TrackBack
Related Categories: Country - India | Quadrant - Economic

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