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IPL signals the future of Indian Economy

When New Zealander umpire Billy Bowden called “Challoo, Challoo” (Go! Go!) at the beginning of the final game of inaugural IPL T20 tournament, it was not only a remarkable moment for the Indian cricket lovers, but also was an ironic hint about where the world economy is heading towards, in the 21st century. Billy’s call for “Challo Challo” on an Indian venue was only a monumental incident. There’s something serious buried beneath it. India is slowly gaining the driving seat of world economy in the 21st century. And they will dictate the rest of the world “Challo Challo!”

IPL is just a one facet of it. They have found the formula of making money out of almost anything! Just like the way the Americans started to do it at the turn of the 20th century.

It wasn’t a long time ago some subcontinent cricketers were penalized by the ICC, for speaking to native umpires in their local languages (Especially in the games against England). English remained to be predominantly the official language of the classic English game of cricket. And, England remained to be the richest country in the cricketing community, for last two centuries. But it wasn’t to be the case in the 21st century!

Just about a one year ago, ICC made a total financial failure out of a World Cup cricket tournament featuring 18 world nations. Today, India has shown to the ICC and the world about how to create profit out of cricket (And, only with the local version of it).

Indians have clearly found a formula of monetizing almost everything. Who would ever thought at ICC, that a local cricket tournament could outdo a World Cup, in financial terms? India is clearly on the right track. Think about the number of Indian entrepreneurs reached the top of the list of the world’s richest men, during last two decades. Think about their thriving Indian entertainment industry, which outsell even Hollywood productions, all across the Asian continent and reaching even the Middle East.

IPL will soon turn out to be the Super Bowl of India. And Lalit Modi will become a household name, at least in all cricket playing nations. For some players IPL would open the doors to the stardom in almost no time. For several other Indian entrepreneurs, IPL would turn out to be a gold mine, to dig their fortune. I was listening to Lalit Modi speaking to CNN’s Talk Asia, when he told that “an average IPL player could earn in a one season of IPL, as much as money he could earn by playing international cricket for five years”. (But the flip side is, you got to play international cricket so regularly, to build a demand for you to be in the IPL.). When money starts to move around, everything else starts to move all over. Indian economy is slowly gaining the economic leadership of the 21st century, and the Americans had been warned.

P.S.
If someone is wondering why I haven’t taken China into this equation; please note that I wanted to comment on this, mainly from the angle of a capitalistic point of view. China is thriving in the world economy too, but with completely a different model than in India (And that model seems working too). Indians seems to believe in “personal success leads the way for a nation’s success” cliché, which I believe is more capitalistic.


Recommended Reading: The World Is Flat 3.0: A Brief History of the Twenty-first Century



4 comments:

  1. so what about the 450 million poor people???

    ReplyDelete
  2. You got a point! Development should reach the deep roots of any countries society, to gain it's full potential. You are absolutely right about the 450 million poor people.

    Let's check what are the alternatives.

    Shoot down Lalit Modi, Ambani family, Laxmi, Sharukh, Sachin, and make them part of the 450 million poor community?

    Well. I'm not Indian. But I don't think that's a good idea. I believe, your country is doing extremely well in creating opportunities for "individuals" to rise to the top. You can't make all your population millionaires over night.

    You have tested the "centrally planned economy" model, ever since independence, up to early 90's. Idea was to "make everyone equally prosperous". But, did it work? Now with the new system, you are at least creating a Sabheer Bhatia or a Lalit Modi, every once in a while. And their entrepreneur wisdom, creates more opportunities to young people in new economic sectors. Of course, it doesn't make all 450 poors rich over night. But at least it takes few people to the top.

    If Americans worried too much about their millions of homeless citizens during the 60's, we wouldn't see Neil Armstrong landing on the moon.

    The other alternative is, let the private sector to skim as much as profit they can. And the government should divert some of that profit, for the benefit of the poor people. It's a better alternative than, controlling the private sector making profits, and few entrepreneurs becoming millionaires. So, don't blame Modi or Ambani, for making profits. Blame the political leaders who fail to take care of the poors.

    I should say it again. I am not Indian. My be my point of view is totally stupid, if looked at from an "insider" point of view. But as an outsider, I see your country is moving on the right direction in the new millennium.

    All 450 million people stay poor for another decade, or at least create opportunities for 1 million of them to reach to the top? Decision is yours. After all it's your country :-)
    P.S.
    And I am sad that the leaders of my country still haven't open their eyes for the new millennium.

    ReplyDelete
  3. I think there is some point in what ami said...

    Okay.. its correct that IPL could make out some millionares and it does nothing to the poor..

    But remember that every cricket test has got associated with it many workers from the field level to the engineering level.. so its definitely gonna create more oppurtunities in every levels..

    Beyond that like any other industries its not at all going to harm the so called poor sector..

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  4. Exactly my point, emkay. Prof Keynes once said, "if people are jobless, ask people to dig holes in the ground and pay them for doing that. it will drive the national economy up" (Paraphrasing. Not quoting).

    IPL will do the same effect on Indian economy, starting from all the "behind the scene" people inside the ground, the taxi drivers (who will get additional trips on the days when matches are played), and so on and so forth. It's pathetic how some people only look at the big money that Modi is earning. If money is in the move, everything else would be!

    Beside that, this is a great concept for Cricket to be competing with football, basket ball and other "90 minutes" sports. And, it's a good competitor to Hollywood and Bollywood too! If this concept works well, we would see Cricket becoming an Olympic game at least in another eight years (Giving my country a chance to win the first ever gold medal in Olympics LOL)

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