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> Indians by and large "play it safe" in everything If you're an Indian businessperson, you have two options - copy the US and make a good ROI, or risk everyth

by wisty 15y ago

> Indians by and large "play it safe" in everything If you're an Indian businessperson, you have two options - copy the US and make a good ROI, or risk everything on creating a new product for a potentially better ROI. The choice is obvious - it's far cheaper (and more beneficial) to play catch-up than innovate. The question is - why is India still playing catch-up? I don't know that much about India. I'm guessing that corruption is one part. I've heard Indian culture can be anti-business. Perhaps politics are more sectarian than policy-based - they don't vote for a party because it has good policies (or seems to have good policies), but because they identify with the candidates (same religion, caste, region, family, whatever). Democracy doesn't seem to work when elections are fought on sectarian lines.

mds101 15y ago
I believe you misinterpreted his words. Being an 'Indian businessperson' itself is not done much because of the 'play it safe' attitude. Yes, Indians are that risk-averse.
- furiouslysleepy 15y ago
  Well, most people around the world are averse to business. Is there really a bigger proportion of Chinese or Russian or Egyptian businesspersons than Indian? (In fact, India has a handful of extremely business-minded communities -- the Marwadis and the Gujaratis, and to a lesser extent the Punjabis, Sindhis and Malayalis. If anything, India does relatively well on this metric.)
  - mds101 15y ago
    Well the Marwadis and Gujaratis have been traders and businessmen since ancient times. It's kind of like the son of a farmer being a farmer himself. How many daily wage labourers have started their own businesses? Or for that matter, how many IT MNC employees have? I do not know if there is a bigger proportion of Chinese/Russian/Egyptian businessmen, but I do know that the amount of social stigma attached to leaving a well paying job to do a startup is significantly higher in India than in most other countries.
    - wisty 15y ago
      Chinese are also massively risk-adverse (despite having a massive respect for businessmen). The only Chinese who start businesses are those who have the luxury of being able to afford to take risks (rich parents), and those who can't afford not to.
  - tathagatadg 15y ago
    Interesting point ... Do you think the geography of the region played a big role in keeping the tradition alive? I'm always surprised to see how my community (Bengalis) are so resistant to business - even though I have read Bengali traders ventured into overseas trading way back in history. What I felt was Calcutta becoming the capital during British India, generated a lot of government jobs for 200 years. That growth led to the downfall of the entrepreneurs in our region. Growing up in Calcutta my Mariwari and Gujrati friends were always excited to talk about business. It was clear how their parents encouraged it. I was clearly taught business is a strict NO-NO. Get a stable job and settle down. When I look back, in a class of 60 odd people in my computer science undergrad class 95% "settled down". Only two dared to kick their job and go for a startup.
    - furiouslysleepy 15y ago
      Perhaps... I'm not entirely sure why this is the way things are. The histories of specific Indian communities are often completely fascinating, and I wish there was more literature on the subject and I had more time to read it. :)
sun123 15y ago
I agree with your last line. We have numerous parties that are "caste based". Bigger parties typically have alliance with the smaller "caste based" parties because they can win the votes of people who are of particular caste. One such example of a party(there are many) is http://en.wikipedia.org/wiki/Pattali_Makkal_Katchi http://en.wikipedia.org/wiki/Pattali_Makkal_Katchi [From wikipedia] >Ramdoss had earlier worked with the Vanniyar Sangham (Vanniyar Union) founded by him in 1980. PMK is based amongst the Most Backward Class Vanniyakula Kshatriyas community. Vanniyar is a caste in the south Indian state of Tamil Nadu

by wisty 15y ago

mds101 15y ago

I believe you misinterpreted his words. Being an 'Indian businessperson' itself is not done much because of the 'play it safe' attitude. Yes, Indians are that risk-averse.

furiouslysleepy 15y ago
Well, most people around the world are averse to business. Is there really a bigger proportion of Chinese or Russian or Egyptian businesspersons than Indian? (In fact, India has a handful of extremely business-minded communities -- the Marwadis and the Gujaratis, and to a lesser extent the Punjabis, Sindhis and Malayalis. If anything, India does relatively well on this metric.)
- mds101 15y ago
  Well the Marwadis and Gujaratis have been traders and businessmen since ancient times. It's kind of like the son of a farmer being a farmer himself. How many daily wage labourers have started their own businesses? Or for that matter, how many IT MNC employees have? I do not know if there is a bigger proportion of Chinese/Russian/Egyptian businessmen, but I do know that the amount of social stigma attached to leaving a well paying job to do a startup is significantly higher in India than in most other countries.
  - wisty 15y ago
    Chinese are also massively risk-adverse (despite having a massive respect for businessmen). The only Chinese who start businesses are those who have the luxury of being able to afford to take risks (rich parents), and those who can't afford not to.
- tathagatadg 15y ago
  Interesting point ... Do you think the geography of the region played a big role in keeping the tradition alive? I'm always surprised to see how my community (Bengalis) are so resistant to business - even though I have read Bengali traders ventured into overseas trading way back in history. What I felt was Calcutta becoming the capital during British India, generated a lot of government jobs for 200 years. That growth led to the downfall of the entrepreneurs in our region. Growing up in Calcutta my Mariwari and Gujrati friends were always excited to talk about business. It was clear how their parents encouraged it. I was clearly taught business is a strict NO-NO. Get a stable job and settle down. When I look back, in a class of 60 odd people in my computer science undergrad class 95% "settled down". Only two dared to kick their job and go for a startup.
  - furiouslysleepy 15y ago
    Perhaps... I'm not entirely sure why this is the way things are. The histories of specific Indian communities are often completely fascinating, and I wish there was more literature on the subject and I had more time to read it. :)

sun123 15y ago

I agree with your last line. We have numerous parties that are "caste based". Bigger parties typically have alliance with the smaller "caste based" parties because they can win the votes of people who are of particular caste. One such example of a party(there are many) is http://en.wikipedia.org/wiki/Pattali_Makkal_Katchi http://en.wikipedia.org/wiki/Pattali_Makkal_Katchi [From wikipedia] >Ramdoss had earlier worked with the Vanniyar Sangham (Vanniyar Union) founded by him in 1980. PMK is based amongst the Most Backward Class Vanniyakula Kshatriyas community. Vanniyar is a caste in the south Indian state of Tamil Nadu