I do take a local train for commuting for work and I do meet a lot of strangers discussing the stock market, the economy in general and some rants about the high real estate prices in Mumbai. As they say, I have made some 'train friends' about whom I know nothing, except their destination stations. Yet, we smile and speak about random topics.
The train I take generally has a lot of individual traders running their own firms out of shops based in south Mumbai since generations. These traders are also the ones who trade in stock markets regularly. Since some of them are importers of commodities (distributors), some are exporters and so they are also well informed about the international markets.
The recent stock market collapse and the fall in the commodity prices has also had a detrimental impact on these people. Lots of importers are suffering heavy losses because of the Rupee depreciation against the rupee. Most of them have lost a lot of money. However, they take these losses in their stride and not worry too much and look forward with hope and determination. Every day they laugh and make fun during the commute as though nothing has changed. Every week they have their celebratory sessions of Jalebi -Fafda in the train.
These people have been in the trading business for generations together and have seen many business cycles and they treat this slowdown in the economy as nothing different from the previous ones.
Some importers are highly optimistic and say that India has a great prospect now that China is in trouble. According to them, now is the time India has to invest in building manufacturing infrastructure and compete in areas which have been dominated by the Chinese. According to them, a person who has manufacturing technology and cool head should now consider building factories and setting up infrastructure. Current prices of steel and cements are down, capital goods equipment suppliers currently are offering great discounts. Building capacities and catering to the Indian market (import substitution) should be the way forward.
One trader to whom I spoke while discussing a couple of fragrance compounds said 'Aap manufacturing shuru karo, India mein market ki kami nahi - ban jayega'.
Indeed, some days after I heard this view, I came to know that in my home town, there is a hustle bustle in industrial construction and a lot of cold storage, oil mills and other small scale factory projects are now taken up for implementation. The CAPEX projects that were stalled due to high commodity prices of steel and cement are now re-looked for implementation.
These green spots in the small scale sector in India and the determination of the small traders and manufacturers makes me hopeful about the Indian economy and its future. So, inspite of all the gloom that newspapers and tabloids are talking about, one needs to be disciplined and hopeful about Indian economy.
So, be positive, invest in the stock markets in a disciplined manner, work hard, stay healthy and remain hopeful.
The train I take generally has a lot of individual traders running their own firms out of shops based in south Mumbai since generations. These traders are also the ones who trade in stock markets regularly. Since some of them are importers of commodities (distributors), some are exporters and so they are also well informed about the international markets.
The recent stock market collapse and the fall in the commodity prices has also had a detrimental impact on these people. Lots of importers are suffering heavy losses because of the Rupee depreciation against the rupee. Most of them have lost a lot of money. However, they take these losses in their stride and not worry too much and look forward with hope and determination. Every day they laugh and make fun during the commute as though nothing has changed. Every week they have their celebratory sessions of Jalebi -Fafda in the train.
These people have been in the trading business for generations together and have seen many business cycles and they treat this slowdown in the economy as nothing different from the previous ones.
Some importers are highly optimistic and say that India has a great prospect now that China is in trouble. According to them, now is the time India has to invest in building manufacturing infrastructure and compete in areas which have been dominated by the Chinese. According to them, a person who has manufacturing technology and cool head should now consider building factories and setting up infrastructure. Current prices of steel and cements are down, capital goods equipment suppliers currently are offering great discounts. Building capacities and catering to the Indian market (import substitution) should be the way forward.
One trader to whom I spoke while discussing a couple of fragrance compounds said 'Aap manufacturing shuru karo, India mein market ki kami nahi - ban jayega'.
Indeed, some days after I heard this view, I came to know that in my home town, there is a hustle bustle in industrial construction and a lot of cold storage, oil mills and other small scale factory projects are now taken up for implementation. The CAPEX projects that were stalled due to high commodity prices of steel and cement are now re-looked for implementation.
These green spots in the small scale sector in India and the determination of the small traders and manufacturers makes me hopeful about the Indian economy and its future. So, inspite of all the gloom that newspapers and tabloids are talking about, one needs to be disciplined and hopeful about Indian economy.
So, be positive, invest in the stock markets in a disciplined manner, work hard, stay healthy and remain hopeful.
