Signs of the Times

The other day, at a party hosted by a prominent politician/businessman in Delhi, there was a new addition to the panoply of performing bartenders, live music, expensive wines and exotic cuisine. The hostesses placed at strategic points were all blondes! Nor were they flown in from eastern Europe at bargain basement rates. They were all-half a dozen of them-British with posh accents. These were professional hostesses which meant that they literally cost a pretty packet. As party bling, it's fairly new but behind their presence on the Indian social scene, however, lurks a larger story.

Ignoring the clichés about Revenge against the Raj, this is about the kind of money people have these days to splash out on. The blondes-at-the-door is not a one-off: at least two other events this year featured hostesses flown in from the West. That's an expensive indulgence but also quite in keeping with current levels of affluence. A few years ago, such displays of wealth would be restricted to industrialists or arms dealers. Today, affluence is following the trickle down theory, with a wide range of people enjoying the ability to spend big money. This is not to do with black money or vulgar displays of ill-gotten wealth. These are people riding the new economy including high-paid professionals who are betting big on the country's booming stock markets. Go to a health club and the TV will be showing Bloomberg or CNBC: a year ago, it would have been MTV or Star Sports. At social events, everybody's advising you on the next hot market tip.

There's a new affluence but also a new level of risk-taking. They may be catching a wave but they are also aware that they are gambling on their future. Most seem unconcerned. That indicates a level of confidence not seen before. Between this Government and the last, the economic opportunities made available means that India may have finally shrugged off the chains that stunted individual growth and injected doubt in almost every aspect of life. These days, you have to strain to hear the cynics, in such abundance not so long ago. Earlier, we had the Indian paradox. Indians who went abroad prospered, while those back home struggled, albeit because of official restrictions. Today, it's more of a level playing field and the signs are everywhere. The spread of affluence means more positive vibes in general society: no longer are you envied, in a negative way, because of the money you have or how you spend it. A few years ago, examples of entrepreneural inspiration were minuscule. Today, there's one in every urban neighbourhood. That's enough reason to party. With or without blonde hostesses in attendance.