The Hindu Business Line : The Slumdog’s corporate mantra

“India is at the centre of the world now and I am at the centre of the centre.” Salim says this to his younger brother Jamal in Slumdog Millionaire, as they sit silhouetted, watching skyscrapers come up at what was once their slum.

That conversation between the brothers could well sum up why “jai ho” has found more resonance among people outside than just those based in India, the country to which the Oscar-winning film traces its roots. The insight, spouted rather crudely by Salim, is chanted ever so often in corporate circles, only here it is cloaked in more sophistication and referred to as “emerging markets”.

Emerging markets

Earlier, corporates flocked to emerging markets because the developed markets were saturated. So you had top-honchos of consumer products, pharmaceutical and other such business segments looking for growth in markets such as India, China and Brazil.

The world has since changed, and growth in developed markets is down to a crawl, while India is still talking about clocking seven per cent. So again, it is the emerging markets mantra. As one head of a multinational drug company recently said, one cannot afford to ignore having a base in India. Putting it more bluntly is the chief of a local company. India is at centre of the “emerging markets” growth story, because companies have their backs against the wall in other developed markets, he observes.

Casting the net wider

So can the Oscar awards and the film that walked away with the accolades be viewed through the same prism? Worldwide, the entertainment business is looking to become more inclusive in otherwise difficult times, a reason why it is looking to cast a wider net in (no points for guess this one) – emerging markets!

About 1,000 films are made in India every year, one of the highest production rates in the world. The spread is as colourful and different as the country itself. And except for two Indians who have been feted with the Oscars in the past – Satyajit Ray and Bhanu Athaiya — the country’s 100 billion people have been witness to not-so-successful campaigns by names such as Lagaan, Water and Little Terrorist. Though the song-and-dance format, overall quality etc have been cited as some of the reasons for our lacklustre show, classic, technically qualified and heart-warming movies have been made here. However, it is possible that these finer points are lost in translation as they reached the western audiences. That said nothing can take away the credit from the exceptionally talented A.R. Rahman and Resul Pookutty. There is also no dampener on the rejoicing that is taking place here as other markets like America dance to Indian tunes.

But twisting Slumdog Millionaire-Salim’s insight into context, it is worth keeping in mind that: It is all business, and India is at the centre!

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