Agreed on the above quote.

With everyone in the hype of salaries, a comman man term is ruling out. But I believe this has made the older generation(retired group) count for every rupee.
I would like to quote an example of a road-side vegetable vendor near where I lived in Bangalore. Naturally, he started off with nothing about 10 years ago. While my parents and neighbours were his only customers, he was negotiable with all pleasing talks to run his buisness. He knew us and we knew him.Then he grew. He brought in all his family, his wife's cousins into this buisness and now that they have occupied the whole area, the prices now are always more and nowhere to be bargained. Once his old customers stand to ask the prices he(his entire group) starts ignoring and say" If you want take it or leave it".........
Someday we did hear him say he brought a big house in our area. I must not rule out that he is bribing the police to occupy all the footpath and slowing down the traffic.

Now, with all the new kids in block earning $$$$ salaries, fill up their bags and hand him with solid notes(some do say "keep the change",bcoz they are running out of time), it never wonders me when he doesnt smile back at his old customers.

Shriya.

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you may be someone to the world but for someone you are the world.

Shriya, similar to your vegetable wala, in Delhi in our neighbourhood, two brothers (from Bihar) started chaat-papri business, they owned crores with in 15-20 yrs, have house near where we live...the spending power in India is increasing because of these good salaries and many grew on the whole economic upturn. Btw the chaat papri guys attitude hasn't changed a bit, when my husband wanted to pay for the chaat we had (after our marriage) he said " from Son-in laws we don't take money...she's like my daughter" very touchy indeed.

Jona

All this crap is giving me suspicions that many of you people are irrationally exuberant and being perhaps excessively nostalgic to India.... Or is there is really such gold rush in progress. I wonder why many desi's aren't hurrying to return. With 1.3 billion people in India, I doubt that these colorful stories reflect the life or times of MOST Indians. Can somebody tell the REAL story back home?

I guess it's a matter of perspective which depends on your experiences.

My perspective is that there is only a small percentage of population -namely in the sectors with offshore clients that are gaining the most mileage out of this growth. IT, banking, BPO are the major beneficiaries. Even in the IT industry, very few people earn salaries like 15 - 30 lacs as is being potrayed on this forum.
Only top executives of top level companies or companies like Google, MSFT pay you a lot of money. Most of the people in the IT industry in India are in the service sector ... and these companies are notorious fhasor squeezing the employee. Eventually, the salaries are limited by the $-Re exchange rate.

The standard of living has gone up so high that even higher salaries don't buy you much.

Lots of things have changed - more private banks, more options for people to buy; also the middle class has changed it's "save-all" attitude and decided to spend money now. This has lead to a consumption-led boom; which is reflected by the numerous malls that are springing up in all urban centres. On the other hand, there is a rapid credit growth in India ... people are picking up everything on EMI (monthly installments) without thinking if they can afford to pay these installments for the next ten years. I can go on and on ... but the gist is that there are several goods and bads in the current scenario ... time will tell which one trounces the other.

I hope for the better

Ash great realistic perspective! I have been outa India for so long I grow uncontrollably nostalgic while reading these stories. Of course, in the back of my mind, I always imagine tons of spicy snacks all day long! The few times I was in India, I essentially thrived on snacks... there being such variety, one never gets tired! I might cruise to India one of these days after establishing myself at the University and securing the passport... And haul back a whole lota snacks! LOL

I disagree with Ash-Canada.
Initially my thinking was like Ash-Canada's, thinking that only IT and BPO are booming. But what i conveniently forgot was that more money in IT has spilled over to many sectors.
Once the IT people started earning huge salaries in 2001, they started buying houses and land. Once they started buying homes, the construction boomed which meant that Architects, Engineers, COntractors, Building supervisior's started getting paid more. It was a sort of domino effect. As i told earlier, 15-20 % of the population are living well say compared to 2 to 3% 15 years back.
The ones who were affected the most was the govt. employees and their salaries did not go as high as people in private companies. But hey, these govt. employee's were doing no work in the first place. This growth coupled with the booming stock market really made the lives of many better.
Remember that Desi;s have not changed their attitude. This means that they still eat at road side stalls, have 5 shirts only at any one time and they earn a lot but spend only a little. People who have owned houses, found that their house value went up by 200% to 2000% (depending on the area) in the last 10 years which is higher than the inflation.
I remember that in the 1990's every one drank tap water outside but even in the end of 90's they would not dream of drinking tap water outside. All were using Bisleri water and now people in TN drink only bottled water all the time (even at their houses).
My dad lives in a village in Tamil nadu. He tells me that people are selling their lands, houses to invest in the stock market and are making really good money.
TK A

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Originally posted by Fido

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Originally posted by febpreet

I have heard stories where the children are earning more than their parents and thats not uncommon .....

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Salary in India are now based on age......there is no money for the experience or what do you exactly mean by this statement