“It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of light, it was the season of darkness…” So begins Charles Dickens’ A Tale of Two Cities . That is precisely the way top European investors perceive India. These are difficult days for India, but they could also have been the “best of times” for investors — if only things were right.
While business leaders across Europe are uncertain about what the future holds for Europe, they foresee growth and recognise the huge potential of the Indian market. The European media widely reported the recent statement of Congress party spokesman Mani Shankar Iyer, on a Bloomberg TV talk show with Tim Sebastian, that “the people’s revolution in India has already commenced.”
Serious European investors are also startled at the total confusion prevailing among the Indian political parties, especially with the winter session of Parliament round the corner. No one knows what the outcome will be, but Europeans believe that tumultuous changes are bound to happen.
Very difficult
The latest corruption allegations involve the ‘royalty’ itself, besides some of its chosen conscience-keepers. It seems very, very difficult for either to survive the present onslaught.
Europeans see Rahul Gandhi as the only other Gandhi, recognised politically, as the heir to the Congress tradition, based on primogeniture. Former Prime Minister Indira Gandhi used the political crisis of 1966 to great personal advantage, and also to re-deploy the Congress party as an agent of change. But for her resourcefulness and determination, there would perhaps have been no Congress party now. What are the options for Rahul?
Man enough?
Many European investors think that Rahul has to come out in the open, and express his desire for an independent, high-level investigation to establish the truth, or otherwise, of the allegations now floating around. He should even be ready to take over as the Congress President. He would be taking his mother and sister head-on, but he must put the nation above family. He should keep aside any immediate political ambitions, until he has been able to convince the people of his sincerity and purpose.
Rahul’s greatest advantage is that no one has so far alleged any impropriety with regard to his political career or conduct.
In the Mahabharata , Bhishma advises Dhritharastra to banish Duryodhana and says:
“ Tyajedekam kulasyaarthe graamasyaarthe
kulam tyajet graamam janapadasyaarthe
Dharmaarthe prithivim tyajet.”
(Sacrifice one for the sake of the family; give up a family for the sake of the nation and, even the nation to uphold Dharma.)
(The author is former Europe Director, CII, and lives in Cologne, Germany. blfeedback@thehindu.co.in )