Bullish on Gujaratis
Index : 1,405 | 1Yr : -3.32% | 1Mo : -2.62%
Category : Geographic
Min Investment : 21,886
Business, indeed, is the business of Gujaritis. They have been celebrating the cult of the entrepreneur long before it became a fad in the startup frenzy in the last decade. Like the Jews, they have come to form an impressive global network. They bestride large sectors of the economy and without a doubt, they have been involved in the rise and fall of stock markets and nations. For this population, enterprise is virtually a cultural obligation. The sheer scale of their achievements has earned them respect as an intelligent community around the world.
Gujaratis dominate the diamond market and about 90% of the world's rough diamonds are cut and polished in Surat. They control close to 75% of the largest diamond district in the world (Antwerp). They also dominate the textile industry in India. Approximately 30% of the motels in USA are owned by the community. 3 out of the top 10 wealthiest Indians are Gujaratis and on the basis of community representation, they rank the highest in wealth. With just 5% of India's workforce, Gujarat produces 22% of the country's exports.
The community has a safety net for their own by financing internally rather than dealing with banks. They operate with a level of trust to the extent that a spoken word is more valuable than a written contract. With the spirit of capitalism running in their veins they often aim to monopolise whatever business they set up. However, in the age of knowledge economies, will the Gujarati utilitarian approach allow them to conquer economies of the future? The popular belief is that as long as there are opportunity gaps, they will be exploited.