We seen the last 5 decades; well perhaps up until 2002 as the era of the Service Industry in India. With the late 1990's came policy changes, industrial sector reforms and most importantly privatization. India's GDP was growing from average of 5% to 8% pa as we crossed over into 2000's. The value system was strong and the traditional mindset of families were to see their children become White Collar professionals mostly Doctors and Engineers back then.
With a boost to the Financial Sector; Higher Education, Retail and other such industries; there was a para dime shift in the Traditional Indian family - and everybody is doing MBA to join the services sectors. The job security, heavy packages and fast paced life all glorifies the service industry.
Well that was then.
Today in metro cities in India; we are seeing an up splurge of Entrepreneurs actively involved in IT, Hospitality, Tourism and Travel, Events and Media and other such industries. These young dynamic Entrepreneurs are managing one or multiple ventures and yet in a small but quick way contributing to our economy.
Then there are the smarter ways to make money. Equities & Commodities Markets are booming (for all stakeholders). Celebrities, socialites, rich kids and the intelligent ones are finding their entry into various ventures; the less capital quick returns model to run their business. Most socialites today either run their own business or use their brand name to support their partners'.
Another very interesting Industry is Weddings in India.
Currently every event company, set designer, production house and individual as Freelancers are offering Wedding Planning services because this is a Market (estimated at $10 Billion) one cannot miss, simply because it is profitable, tax evasive and pure entertainment! Given the black money floating in India which is twice as much as the white currency is proof to the fact that Indians love their tradition and have great savings, and the sum of the two variables is a Big Fat Indian Wedding. This is mostly because having a Grand wedding is a matter of Prestige and Privilege while the real reason being disposal of black income.
circulating in the economy and purchasing power parity at $ 2946 US Dollars (making us the world's largest economy) we definitely see why Entrepreneurship is here to stay and soon the Service Sectors will be paying its Employees heft packages to avoid Attrition and another commoner turning into a businessman!
With a boost to the Financial Sector; Higher Education, Retail and other such industries; there was a para dime shift in the Traditional Indian family - and everybody is doing MBA to join the services sectors. The job security, heavy packages and fast paced life all glorifies the service industry.
Well that was then.
Today in metro cities in India; we are seeing an up splurge of Entrepreneurs actively involved in IT, Hospitality, Tourism and Travel, Events and Media and other such industries. These young dynamic Entrepreneurs are managing one or multiple ventures and yet in a small but quick way contributing to our economy.
Then there are the smarter ways to make money. Equities & Commodities Markets are booming (for all stakeholders). Celebrities, socialites, rich kids and the intelligent ones are finding their entry into various ventures; the less capital quick returns model to run their business. Most socialites today either run their own business or use their brand name to support their partners'.
Another very interesting Industry is Weddings in India.
Currently every event company, set designer, production house and individual as Freelancers are offering Wedding Planning services because this is a Market (estimated at $10 Billion) one cannot miss, simply because it is profitable, tax evasive and pure entertainment! Given the black money floating in India which is twice as much as the white currency is proof to the fact that Indians love their tradition and have great savings, and the sum of the two variables is a Big Fat Indian Wedding. This is mostly because having a Grand wedding is a matter of Prestige and Privilege while the real reason being disposal of black income.
circulating in the economy and purchasing power parity at $ 2946 US Dollars (making us the world's largest economy) we definitely see why Entrepreneurship is here to stay and soon the Service Sectors will be paying its Employees heft packages to avoid Attrition and another commoner turning into a businessman!
