Topical

E for economy: E for engine

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E for economy: E for engine

Shashank Purandare

Saumit was never really interested in academics. Known for his antics in school days, his parents used to receive endless complaints from his teachers.

After school, he received a degree as Bachelor in media studies. He started with odd jobs in photography. He was never interested in a 9 to 5 job.

After struggling for a year he got a break and got an assignment to conduct behind the scene photo shoot for a Marathi movie with a famous director. This was about five years back. After that he never looked back.

Today he works as a free-lancer, has done countless ad films, travelled all over the world, worked as a second Director of Photography for a very successful Hindi film, Fighter, among other films and has created a niche for himself in advertising and the world of video films. While some of his peers are struggling, financially he has done very well for himself through sheer hard work.

But instead of splurging the money, he has invested it in shares and mutual funds and it is multiplying in leaps and bounds.

This, in a nutshell, is an example of young Indian middle class, who have become the engine for Indian economy.

Indian stock market boomed after the COVID years. Today, when economies all over the world are struggling, ours is galloping. Some say it is driven by Foreign Institutional investors. But look at the facts. The FIIs are withdrawing money from Indian market because they can book profits, which they are unable to do in other markets, which are struggling. The FIIs are withdrawing money from Indian market, but the bull phase continues. Why??? Because of the domestic investors.

The Indian middle class is growing. They are earning money and investing it in various avenues like real estate, stock markets or even startups. Mutual fund investments are rocketing. It will be no wonder if we become a five trillion dollar economy in near future.

The older generation is always critical of the young generation, that is, those who are in their twenties to forties. But most of them have a sound mind and a good head on their shoulder. They are extremely confident in what they are doing. They are the new middle class, the driving force of our economic growth. This is the story of today’s India.