Business Economics & Services Team (BEST)
Will Mega Events Help Bring Investment ?
In India big events are happening at regular intervals presumably with twin objectives. One, to spread the India Story and two, to bring in the necessary investment. One is already over in Ahmadabad- Pravsi Bharat Divas-mainly focused on People of Indian Origin (PIO), which going by the number of people attended was a big hit in terms of the number of people attended and the solidarity pledged by the participants to be involved in India's growth story in a more meaningful manner. It remains to be seen what will be the likely fallout of the mega event in terms of accelerating the flow of investments into the country.
The second event-Vibrant India-is underway in Ahmadabad. It is not a new event but was rechristened from Vibrant Gujarat. This time around the event has captured the imagination of the foreign investors mainly on account of the fact that the event was crafted by the prime Minister Narendra Modi, when he was the chief minister of the state. This event had a snowball effect. Several states have tried to copy the event and now you have half a dozen similar events held by states like Madhya Pradesh, Uttar Pradesh, Kerala, Bihar etc. and the latest to join the band wag is West Bengal.
Business Associations and media houses are not falling behind. Economic Times, the largest financial daily in the country is organizing the Times Global Summit (GBS) shortly in New Delhi, which is being sold as an event where large number of foreign investors and Indian industry leaders are likely to participate and give their perception about India and the investment opportunities.
Why this herd instinct in organizing mega event? We have spoken to a few people about the usefulness of these events. There were positive and negative feed backs. A good number of them are of the opinion that such exorcizes will provide a platform for discussing broader macro issues that can can be resolved through policy decisions. The government can spell out clearly what they intend to do in creating a favorable environment for investment and they can hear the views of the investors as to what more has to be done in addressing their woes.
But there is a fairly large section of people who believe that such assemblage of people will not serve any positive results since many issues that affect the investors at the grassroots cannot be discussed at these forums. Investors come to these meets mainly to rub shoulders with the policy makers and fellow industrialists. Investment decisions are taken after a close study of many factors and no decision is taken merely on assurances.
Many confirm in private that such events will not serve any purpose, since every issue is discussed in such forums and the seriousness and intensity of discussions are merely superficial and there is positive of time to get into the brass tacks. Some of the participants, whom we have contacted through telephones say that same issues get repeated and many of the participating corporations refuse to divulge theoir issues in open forums. It would have been ideal to have small groups for every segment of industry to thrash out their problems, rather than airing them in such open meetings.
Will Mega Events Help Bring Investment ?
In India big events are happening at regular intervals presumably with twin objectives. One, to spread the India Story and two, to bring in the necessary investment. One is already over in Ahmadabad- Pravsi Bharat Divas-mainly focused on People of Indian Origin (PIO), which going by the number of people attended was a big hit in terms of the number of people attended and the solidarity pledged by the participants to be involved in India's growth story in a more meaningful manner. It remains to be seen what will be the likely fallout of the mega event in terms of accelerating the flow of investments into the country.
The second event-Vibrant India-is underway in Ahmadabad. It is not a new event but was rechristened from Vibrant Gujarat. This time around the event has captured the imagination of the foreign investors mainly on account of the fact that the event was crafted by the prime Minister Narendra Modi, when he was the chief minister of the state. This event had a snowball effect. Several states have tried to copy the event and now you have half a dozen similar events held by states like Madhya Pradesh, Uttar Pradesh, Kerala, Bihar etc. and the latest to join the band wag is West Bengal.
Business Associations and media houses are not falling behind. Economic Times, the largest financial daily in the country is organizing the Times Global Summit (GBS) shortly in New Delhi, which is being sold as an event where large number of foreign investors and Indian industry leaders are likely to participate and give their perception about India and the investment opportunities.
Why this herd instinct in organizing mega event? We have spoken to a few people about the usefulness of these events. There were positive and negative feed backs. A good number of them are of the opinion that such exorcizes will provide a platform for discussing broader macro issues that can can be resolved through policy decisions. The government can spell out clearly what they intend to do in creating a favorable environment for investment and they can hear the views of the investors as to what more has to be done in addressing their woes.
But there is a fairly large section of people who believe that such assemblage of people will not serve any positive results since many issues that affect the investors at the grassroots cannot be discussed at these forums. Investors come to these meets mainly to rub shoulders with the policy makers and fellow industrialists. Investment decisions are taken after a close study of many factors and no decision is taken merely on assurances.
Many confirm in private that such events will not serve any purpose, since every issue is discussed in such forums and the seriousness and intensity of discussions are merely superficial and there is positive of time to get into the brass tacks. Some of the participants, whom we have contacted through telephones say that same issues get repeated and many of the participating corporations refuse to divulge theoir issues in open forums. It would have been ideal to have small groups for every segment of industry to thrash out their problems, rather than airing them in such open meetings.
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