The Turn of the Tortoise
Author : TN Ninan
Publisher: Penguin, Rs 699
This labourious comparative analysis of economies, Governments, and nations is insightful, holistic, and easily understandable by a layman reader, writes ANSHUMAN MISHRA
In his debut book, titled The Turn of the Tortoise, business journalist TN Ninan comprehensively touches upon the key political, economic, social, and technological issues that have affected India’s past,present as well as those that will play a key role in shaping up the country’s future. In each chapter, he picks up a pertinent area and utilises his 25 years of journalism laden with experience to delight us with stories, facts, data and anecdotes about the key people, policies and processes influencing India’s growth, or lack of the same thereof.
From talking about how India’s magnanimous size and diversity account for the perpetual difficulty in defining a common growth objective for the country to how its people, policy and markets affect its economy, the author chooses a vast canvas to paint India’s picture. Ninan states, “Anyone who seeks to glean India’s future would need thereof to understand four questions : What works in India, what doesn’t, why and whether it can be fixed.”
In a comprehensive critique of the Indian Government, Ninan emphasises on the need for Government to focus on their core areas like law and order, education, and health while leaving running the airlines companies, hotels, and banks to the private sector which has been much more successful than the state. Also, he brings to light the tendency of each Government to dole out freebies and subsidies in the name of inclusion, while noting that real inclusion can only be brought out through capacity enhancement and providing universal education to the citizens.
Referring to the visit of a major MNC CEO, he mentions that he “observed during a visit to India that his company had succeeded every time it bet on the Indian people, less so but with good success when it bet on the Indian market, and least of them when it bet on Indian policymaking and policymakers.”
Touching upon the contrast between China and India’s growth story, he reflects that China has a better macro story than a micro one where the state performed better than individual companies. On the other hand, with India it has been the opposite with the private entrepreneurs driving the major economic growth: “...revolutionary China placed emphasis on education while, in the initial decades, de-emphasising university education. India, ruled mostly by the upper caste during the post-Independence decades, adopted a Brahminical approach: It neglected school education while building quality institutes of higher learning”.
Ninan further critiques the underperforming state owned companies, massive corruption, poor policies and highlights the irony that while India is massively successful in driving ‘missions’ like the launch of ‘Mangalyaan’, it’s miserable in maintaining daily infrastructure like traffic control.
Emphasising the primary role that politics plays in the Indian economy, he quotes, “Indian Politics has witnessed three master narratives in the twentieth century: Secular nationalism, Hindu nationalism and caste-based social justice. On the whole, economics is subservient to the master categories of religion and caste.” Further, he covers the trade and the political equation with the neighbouring countries, especially SAARC and ASEAN and how India will play a crucial role in shaping up and defining the key global environment and climate order due to it’s high growing economy. To conclude, Ninan quotes Robinson stating, ‘Whatever you can rightly say about India, the opposite is also true’ and comments, “India is very much a work in progress”.
As a writer, Ninan has insightfully presented a balanced perspective on the integral issues. He has focussed on the analysis of data, providing insights pertaining to India’s economy. He does this aptly by sticking to the facts as closely as possible. At the same time, one cannot help saying that for a veteran journalist of Ninan’s stature, it’s a surprise that his first book has come so late in his career. Although, his command and in-depth understanding of each primary theme is captivating. This labourious comparative analysis of economies, Governments, and nations is holistic and easily understandable by a layman reader. For a comprehensive overview of our postcolonial economy with hardhitting facts, data and insights, this is a good read.