Indian corporate billionaires have become rich by getting India’s scare resources by paying well below the actual market price, due to corrupt nexus with politicians and bureaucrats, for scarce resources like land, spectrum, licence to mine and drill for range of commodities. In the West, Japan, and East Asian nations, a lot of wealth and employment is generated for their nation by the rich people by investing in R&D. This high risk and high return investment in R&D is vital for becoming self-sufficient and avoid perpetual imports, which essentially exports jobs. Unfortunately, Indian billionaires stand out for being singularly least philanthropic, spending little or nothing on indigenous R&D, but yet have outdone every other billionaire in grotesque and vulgar display of their ill-gotten wealth.
Re: Vulgar wealth display yes but R&D and philanthrop
by Herry on Nov 18, 2010 03:10 AM
what was the last invention made in India which have been successful?
Re: Re: Vulgar wealth display yes but R&D and philant
by Chaitanya Kumar on Nov 18, 2010 03:21 AM
dude, keep the inventions for yourself. for people to prosper all you need is food and clothing.
If you are able to provide that, it is enough. so stop your inventions nonsense...
Re: Re: Re: Vulgar wealth display yes but R&D and phi
by asdf asdf on Nov 18, 2010 06:18 AM
how u will get food, clothing etc ?? u need to make something else to sell.. and that is invention...
How Dhirubhai and later Mukesh grew is known to every one in business circles.Globlaisation is biggest fradu enacted by capitalist coutnries to milk poor economies and convrege wealth towards USA lobby countries.IN my view India is heading for serious civil disturbnaces,poverty,pollution and almost zero law and order.A few more people like amabanis would emerge.