December 26, 2008

2008 - The year of amazing highs and painful lows

2008 would go down in Indian public memory as a year of extremes, the highs of the year were exhilaratingly higher and more glorious than those of past many decades while the lows were so horrendously painful that we may not forget this year for a long, long time.

The year that was saw India achieve many notable milestones - the most outsatnding being the landing of a probe Chandrayaan on the moon with pinpoint precision and accuracy and at a cost that was a fraction of what the western world spent on similar projects. This one achievement can establish India as the world's leading satellite launch agent. It can help us garner billions of dollars of global business both in terms of the launch itself as also the satellite time that we can sell.

The second major feat was in the arena of sport. Something that no Indian sportsman had achieved, since the beginning of the modern Olympics over a century ago, was achieved by Abhinav Bindra when he won the shooting gold at Beijing. The gold also demonstrated to other sportspersons that one has options all the time : the option to curse the officialdom or the option to get up and do something about the way things are.

Of course there was the added joy of Vijender Kumar and Sushil Kumar, our boxers from Bhiwani, picking up India's first boxing medals at the Olympics. It was equally heart-warming to see Vishwanathan Anand emerge stronger and claim the undisputed World Championship in chess.

The impossible was achieved by our boys in cricket when they beat team Australia in their own backyard to emerge as a force to reckon with. The test series and ODI victory over Australia was followed by beating England in a test and ODI series comprehensively in India by Dhoni and his boys. The emergence of a galaxy of new, younger, fitter and hungrier stars in a variety of sporting discipines gives us tremendous hope for the future.

The salience that the first T-20 Indian Premier League (IPL) championship achieved has catapaulted India to a global leadership role in cricket. India is a major moneyspinner for world cricket, thanks in no small measure to our billion plus cricket crazy population. Today when India speaks, the cricketing world listens. In the earlier era Indians went to faraway lands to pursue careers, today cricket brings many international cricket stars to Indian shores to seek fame and fortune.

These were all moments that would be etched in our collective memory for long.
2008 also saw the horrying terror attacks on the Indian state and its hapless citizens in Mumbai, Jaipur, New Delhi and at countless other places. The patience of a giant is time and again being tested by a pygmy amongst nations. Pakistan doesn't realise that the state of Pakistan could easily get crushed should this gentle giant merely wipe the irritating sweat off it's brow. The only solace in this entire episode was the emergence of a national feeling against terror, with people rising up in arms agains Islamist jihadis, irrespective of their religious beliefs unlike the past when people responded to such extreme provocations based on whether they were Hindu or muslim. That India manged to gather world opinion in its favour and organized a UN Security Council resolution against the LeT (or JuD, as it is now known) speaks volumes about not only the fairness of our claims but also the victory of our diplomacy and our economic policies.

The global financial meltdown which has already caused tremendous hardship to many by erosion in net worth and loss of jobs and employment would be the catastrophe of the century. It is variously estimated to be graver and more severe than the great depression of 1930s. Many iconic centuries old financial institutions such as Merrill Lynch, Lehman Brothers, AIG, Citigroup, Freddie Mac and Fannie Mae just wilted in the aftershocks of this grave crisis. Analysts anticipate this crisis to last over 3-5 years in the west. However China and India appear to be somewhat better-placed to cope, considering their large populations and growing, domestic consumption-driven economies.

So I feel 2008 would go down as a highly forgettable year in our collective memory. A year which need not have been.

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