And , a new word , I discover on my way to office, while listening to a podcast , ‘the daily brief’ by Zerodha. The word is premumisation. The term enthuses me to ponder on it and its adversaries.
Aspirations of new India
Before I elaborate on this term,let us discuss on the aspirations of new India which is bolstered by the ever ambitious middle class, who are burning midnight oil to dream better and manifestation of the same. The burgeoning middle class toils and strives to have disposable incomes, pay its taxes to build the nation. When this section goes out, it wishes to see bump free and crater less roads, and on the road never shies away to pay the road tolls. Education and experiences occupy the vantage slot on the mountain of priorities focusing on services and convenience, thus a 10 min delivery and quick commerces to name a few.
What is this term?
And, now what’s this term, sounds more of a genz slang? The podcast explains it with subtle metaphor using a reference to matte color on your everyday car where this premium paint was absent in 90s, now it’s a thing starting this millennium, this shows the section wants to have the better experience with an affordability of sorts to showcase a status symbol, using tiles on the floor to embedded sleek switches on the electric units.
Another observation is the disposable incomes what this section rides on and believes in the sweat of its own brow , this urban-clad group is mostly urbane, minds its own business while thrives to be better everyday.
GenZ v/s Millennials
Coming to GenZ, their difference v/s millennials is that they have something to fall back into while the former generations aspired to manage the basic necessities , like a roof and to pay for the bills etc. .
If I can add my observations, GenZ exudes confidence, inferiority complex is almost absent, novelty in many areas are being led by them – thus the startups – India is one of the leading countries in this segment and this will be a trend without a doubt. Goods with a premium tinge is a thing of now – thus the premumisation.
‘Jugaad’, ‘Chalta hai’ & the economic shift
‘Jugaad’ & ‘Chalta hai’ are fast becoming things of the past, which in a way boosts the economy in certain ways – take the small scale manufacturing units or the MSEs for an example , like a fancy bathroom towel hanger or kids’ dinosaur shaped pencil boxes, or a sophisticated shoe tongue. Even the CCs on the bikes have steadily followed north on the streets . I suppose the GenZ and urban-clad urbane middle class need to be credited here. This hard working section flourishes on the dynamics of experiences, economy & in coming times will only augur to the betterment of the nation.
Class politics & narratives
Now, coming to the tapestry of politics of democracy, and on caste/class politics- we listen to the constant chatter of class-based jargons which is relentless on the visual media. I wonder what purpose it serves to nation other than compartmentalising the population , this is prevalent in election seasons. It nevertheless creates barriers in communication which otherwise have been seamless , we need to build on the mindset that treats this tunnel vision to obscurity and extinction to say the least. To start with – let’s not ask anyone which caste they belong to – this will go a long way. What this will result is the cohesion within & towards an informed populace focusing on development rather than on aggrandising on the opposite. These Acronyms and abbreviations only results in a class-based society which is detrimental to growth across wider landscape.
Vote banks, which the politics and its beneficiaries revolve around seems to be an accepted term, unfortunately. Nation will stand strong, when we reject these kind of narratives.
Freebies and national priorities
And on freebies, India spends staggering 2% of the overall budget , whereas our health & education budget hover around the same number (sourced from internet and the gpts) – this is startling I would think. There is a difference between social welfare schemes and the goodie handouts. The latter just creates a sense of entitlement without a meaningful contribution in the long run. Election seasons pave ways to these give away slogans in every nook and cranny across our societal establishments. Again and sadly – the connotation of these handouts are made to resemble welfare scheme while in reality there are subtlety attached to it. Salaried middle class work one’s finger to the bone paying direct and indirect taxes while not being prioritised to avail any plausible benefits.Lastly, freebies only creates a lackadaisical and entitled society of certain populace – which could otherwise would have contributed significantly to the furtherance of India’s growth story , the emphasis should be on the opportunities rather than doles.
An optimistic conclusion
To conclude as an all-season optimist, I am excited in witnessing how India is revealing itself, as a great civilisation, a vibrant democracy. Miracle,I would say, this has been that India as a nation has never looked back albeit with a steady growth. Per capita has gone up significantly post 90’s remarkable policy reforms and realignments – the journey has continued since then with an enchanted fervour.The contours of a nation on the rise is being applauded and noticed. Arguably, the growth has not been at mach-speed levels as we can expect given the enormous potential India boasts, nevertheless it has been consistent and steady.
As we dive deeper, we need to study the journey to premumisation and implications of division and the imperatives of it. I am not going to the usual rant of inefficacies of system and blah blah blah – to do an analysis here – but would really be hopeful of the current generations and the ones to follow.
From ‘chalta hai’ to ‘chahiye hai’
We are on the pedestal of a transformation from ‘chalta hai’ to ‘chahiye hai’.
India . This is 21st century – let’s not forget the great history we imbibe , we adhere , we project and what we aspire to be !
-a Friday thought! (Apologies if I contradict anyone’s view point)