There is an impression that Indian entrepreneurship has taken a hit with Nirav, Vijay and Rotomac episodes is unfortunate. There are people who spend their lives building legitimate businesses and the negative perception does a disservice to the business community. I feel for the lost jobs to be honest more than the lost money to the banking system, where NPA’s are a reality.
It is easy to critique the non availability of good work in the system, where reservations and lack of public sector jobs are major concerns/drivers. In this precarious environment, business is the avenue for jobs. The amount of risk an entrepreneur takes is mind boggling. The money that the entrepreneurs make is after walking on a bed of thorns, and lost sleep. There is no rent seeking in this matter. Businesses lose face value of their stock over a tweet now a days.
The hype and the hysteria of the Lynch mob mindset should be tempered. Who will create the jobs in this gig and AI economy? Not at AK Gopalan Bhavan certainly. Cyber Hub is more the correct geography.
Demographic Deluge rather than Dividend is not too far away.