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A SubPrime Crisis for India

India is always fast in picking up various trends from the International markets. Whether it be clothing, fashion or foreign policy. Thus how is it possible that India not pick up international faults and repeat them in its own style? Well, I’m not just talking about the cost fluctuations due to Oil Prices and the whims of the Oil Sheikhs and those of the Federal Bank of the US. I’m talking about taking the biggest blunder of the century being adapted to the Indian scenario. We all know what the sub prime crisis has done to the United States, the world’s biggest economy is now at the brink of a recession best remembered way back between the World Wars… And its not even War right now, it least not for a majority of the world (I hate to say this, but I’m wrong, it IS war for most part of the world). But India is Unique in that unknowingly it is having a sub prime crisis too. No, not food grains, Cellular connections. India is currently one of the largest growing cellular markets and in order to woo the populace, the many cell operators in India Introduced very early various schemes for which the ICM (Indian Common Man) fell hook, line and sinker. But these amazing schemes have a draw back. Lifetime prepaid is a dream well dreamt, but most people are not staying with it at all. Thousands of free smses per month are a boon for the college student, but the companies providing these facilities are now facing the heat of not just TRAI but also the fact that they have to earn money in order to buy more spectrum in the coming years. So companies like Hutch (now Vadophone) and Spice have done a volte-face and upped their prices. MTNL and BSNL still hang on to the Great Dream but they too will soon realise that the government is not interesting in funding their whims and fancies.

Worse of all is the fact that the govt will be introducing Number Portability as early as 2009 in many circles. This will give undue power to the consumer in threatening the Cellular Operator into giving away freebies or loosing vital subscriber database which already has their favourite phone number. This will lead the companies to join hands under the Aegis of TRAI and set the minimum standards for call and sms rates. This will also lead to a uniformity not achievable as yet as each operator tries to use some loophole to their benefit.

For Example- TRAI told all operators to start charging rupee 1 per sms on goverment denoted holidays or festivals. This was a bane for prepaid consumers who had to develop strange habits of being overpunctual in wishing their relatives a day before the festival in order to save precious talktime. But odd it is when you still recieve many smses on the good day too! These are from PostPaid consumers who, amazingly have been granted the boon of being exempted of such silly reforms.

May God only Intervene in the Crisis now ravaging the minds of the mobile happy ICM.

Hoping that solutions be Just a corner away,

Nitin.

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