Indian economic prospects may require a more realistic analysis

India's economy is growing fast but the country stares at a welter of worries that'll weigh against Panglossian projections

- KAUSHIK BASU

The chaos and cacophony of bazaars have a life-affirming quality. In fact, the marketplace with all its exchanges, wrangling and camaraderie-has shaped human society from the very beginning. So, it should not be surprising that anthropologists often turn to marketplaces in their efforts to understand distant cultures. It is certainly a good way to glean insights into modern India.

Walking through a Delhi bazaar last week, chatting with friendly shopkeepers and roadside merchants and revelling in the warm glow of traditional India, it was impossible not to feel optimistic about the country's prospects. This is not a place where one turns to their mobile phone to answer a question or guide them to their desired destination. Simply ask for the information you need, and several locals rush to provide it.

In my case, that exercise led me down a narrow lane lined by buildings bearing torn posters and peeling paint the impression was that of a Raoul Dufy sketch-toward a local photo studio to get a new headshot. When I stepped through the door, the ample store-owner-who, with two assistants and no work, had been listening to melodious Vedic chants-gave a broad grin and asked if I wanted to have a "lovely" photograph taken. Before I could respond, his assistants were preparing the scene: setting up the camera, arranging the lights, adjusting the screen behind me, and tilting my head by my chin "to get the best angle."