The BPO industry was indeed a boon to so many middle class Indians who saw a surge in their incomes ; just five years back Ankit would not have imagined earning RS 50,000 per month . So much had changed since the outsourcing boom happened and so many new job opportunities were thrown up ..of course one needed to have the requisite skills to avail of those and Ankit was fortunate to have taken up Structural Detailing soon after completing his Diploma in Civil Engineering .It was 2003 when he passed out and he had through campus recruitment taken up the offer which came from Seth and associates ..the offer itself was not very attractive but the job attracted Ankit ; As a site supervisor he would have to be actively involved in the civil construction process and this was the place where he thought he could apply some of the theory he had learned at college . Only three months in to the job Ankit had a chance meeting with the Structural Engineer who taught him how to read the rebar drawings and to prepare the bar bending schedules and very soon Ankit was managing the schedules and preparing the MTO’s . Observing Ankits skills and his quick grasp of the subject the structural engineer offered him a apprenticeship in an Engineering services company which specialized in structural detailing . The company had all overseas clients who paid in dollars and the company offered a very decent salary and much above what he had drawn as a site supervisor and that’s when Ankit realized the benefits of working in the outsourcing industry . With a good salary came the ability to save and on top of his priorities was to book a flat and move his parents in to the comforts of a residential complex and out of the hardship of the housing board apartment in which they all had spend the past 35 years .
Keshavbhai walked intently clutching his stark white pyjama pocket quite oblivious to the din and cacophony around .As he entered the Virdhiman commercial complex he did not wait to take the elevator and instead took the stairs ..probably he did not have the patience to wait or may be wanted to avoid the crowd . “ Kem Cho Keshavbhai “ greetings came from Hitenbhai who was seated across the table along with four other Kathiawadi banias . This was Virul Shahs office and unlike any other Chartered Accountants office there were no law books or Income tax ready reckoners on display . Virul himself was seated behind the large desk while the assembly of banias with the addition now of Keshavbhai sat across . Keshavbhai finally released his hold on his pyjama pocket and removed a bundle wrapped in an old newspaper and said ” Aa Saru ek peti che” Virul did not count the notes , he simply unwrapped the bundle and placed it in the drawer of his desk .He peeled off a single stick it note from the pad and scribbled on it RS 1 lac , wrote the date and initialled and gave the paper to Keshavbhai .The transaction was complete …Keshavbhai had just invested RS 1 lac in the cartel which financed a group of builders .Virul would collect funds from the Keshavbhais and the Hitenbhais on a daily basis and invest the funds with one of the builders in the group. The builder would usually allot a complete floor to the ‘investors’ on a price much below the market price ; this arrangement suited both as the builder got the funds to complete his project and the investor got the premises at a discounted rate . There were no formal agreements , no paper work what so ever and everything was based on trust .But in line with the risk came the profits ..which were immense . Typically an investment doubled in a period of 1 year which would give an indication of how steeply and how quickly the property prices were soaring .
The builder was making the moolah and so was the investor and it was all at the cost of the genuine buyer like Ankit . Very soon Ankit realized that his dream project would have to wait ..he did not have the requisite funds to make the initial investment , the prices were far more then he had budgeted for . As he walked back home he wondered if this new economy was indeed a boon or a curse ..it had raised his level of income and so had the prices ; the rich with their surplus income were becoming richer as they speculated and manipulated the supply to create scarcity ….and in all this the peoples government was the silent spectator , thought Ankit ,as he entered the housing board apartment where he had spend all his life and by the look of things would have to spend the balance of the years that were in store for him…