Saturday, March 28, 2009

“G” for Globalization...echoed the voices from the classroom. No it wasn’t a bunch of suit clad, jargon spitting B School graduates, but a bunch of young Pre-School students studying in a neighborhood “corporatized”, learning their A…B….C’s, their first step in becoming what is today proudly called as global citizens. The concept of globalization has today sunk in deeply in our lives, especially in the major metros of India. The products and services we use, the firms we work for, the cars we drive, the brands we shop for, our bankers, our service providers. We prefer to buy “global” brands –maybe for their perceived quality and for the status that is associated with it.

Just thought it would be nice to do a status check and see where I stand. In my case I have very strong brand preferences in most of the categories. For apparel and electronic items I would buy only global brands. I don’t mind spending a few extra hundred bucks for an Arrow shirt for a few thousands more for a Sony television set but when it comes to banking, financial products I am a nationalist at heart. I choose to bank with State Bank of India, opt for insurance products only from Life Insurance Corporation of India. I use a credit card from one of the leading PSU banks of India. Infact when pretty voices from global banks (not mentioning names J call up and ask me to opt for their credit card, or a 10 lakh immediate cash loan or simply open an account with them, it sends a shiver down my spine. When it comes to “cash” and safety issues I get completely completely nationalized. Whether this perception of mine would change, 10 years down the line ? I don’t think so. If any it would get stronger; considering the fact that I’m getting older by the day!