The Business World Magazine has been a part of my studies as a commerce student. This habit was inculcated into my daily curriculum by my father. Almost three years down the line I still depend on the same magazine for my dose of information on the know – hows of the business fraternity. The recent edition of the magazine (dated July 15-21, 2008) has once again lived up to my expectations, providing beautiful cover stories and other features which were quite thought provoking.

The cover story “The Price of Growth” serves an eye opener and depicts how India has ceased to be a lucrative business destination unlike the recent past. It also throws light on the fact that India now falls into the high cost economy, thus resulting in industrial and services migration. In this regard an incident has been narrated where a successful entrepreneur from the US is trying to start up a venture. However, unlike popular belief, he now finds the expenses way too much to bear and says that if costs scale, he might just have to recalculate his plans. This looks like an alarming situation for the country. From past histories of the world economy such as US, the inventors of semiconductors losing their industries to Taiwan for being a high cost economy, India definitely has lessons to learn. Why just industries? I think each and every common Indian today would relate to the present costlier ‘avtaar’ of the country. According to me it is difficult to maintain a life style here, but it is much more difficult to do business. Is it the price of growth that everyone is paying in the country? This is the question which may plague the general public, industrialists and economists alike for days to come in the future.

What impresses a reader like me about the Business World is their ability to club inter related stories together within one magazine. The next story that pulled my attention was the “The High Cost Of The High Life.” While on one hand it portrays a blooming India with rising per capita income, it also points out the Indian mentality to show off wealth. This urge to show off often leads an average Indian to even buy over priced products, thus resulting in inflated prices of goods in India as compared to other developed nations like the US. Somewhere deep inside, I feel that it is this attitude of consumers that has made our country a so called a high cost economy and the market is playing on this Indian mindset. However, what we must understand is that, such an attitude would serve as a derogative towards the real growth of the country. The only curbing measure can come from the government in the form of luxury goods taxation.

Finally, I would like to sum up with an international event of utmost importance. This is an event which would hold significance in years to come in the future. Yes…You people got me right. I would now be talking about the new US-France relationship which might just get stronger, based on France’s return to the NATO (North Atlantic Treaty Organization). Recently President Nicholas Sarcozy announced sweeping reorganization of the French Military. The new plan reverses decades of French security policy, primarily focused on a Cold War-style invasion scenario. The new emphasis highlights counter terrorism and intelligence. The step is likely to bring Paris closer to Washington, which signals a beginning of a new era in US and French relationship. France till now was the only country to echo it’s thought against US monopoly and dominance. Now, with the change in the government and its stance, the international arena and the world political field has become a ground without opposition for US. This is a very alarming situation, which needs everyone’s attention.

Overall, the magazine provided a good overview of the current global as well as national political and economic scenario and I think it’s a must read.