Thursday, February 21, 2008

A sneak peek at India's crorepati

The eight digit number looks rather naive at first glance — one single digit leading a train of seven zeroes — but in India, owning Rs 1 crore or more has literally put the whole country in a rat race. The entire country is lining up to become a crorepati.But over the years the charm of Rs 1 crore has faded and even Kaun Banega Crorepati now offers twice as much.Traditionally, a crore signified a lifetime of hard work and planned investment. But with the corporatisation of Indian society in the last few years, aided by a boom in the stock market, an entire generation of instant lakhpatis (millionaires) and overnight crorepatis (billionaires) have been fuelled.CEO Investshoppe, Ashish Kapoor says, "These days, Rs 1 crore is just the stepping sone. People who have invested a few lakh of rupees in the stock markets have now become crorepatis."
Today, corporatised film studios are signing mutli-crore deals with film stars. Director Anees Bazmi, who earned Rs 8 crore for his last film, says that big money is what gets one respect — be it in Bollywood or elsewhere.

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