Condensed from "India's Smaller Cities Begin to Show Off Growing Wealth," copyright Lydia Polgreen, the New York Times, published in the Cambodia Daily, Oct. 25, 2010. All text below is copyright Polgreen/the New York Times.
AURANGABAD, INDIA – A group of more than 150 local businessmen [in central Indian city Aurangabad] decided to buy, en masse, a Mercedes-Benz car each, spending nearly $15 million in a single day and putting this small, but thriving, city on the map.
"The story of Aurangabad is the story of India," said Debashish Mitra, head of sales and marketing for Mercedes-Benz in India. "People want to spend, and feel they deserve luxury."
These men could not be more different from their cautious fathers, who stashed every penny as a hedge against an uncertain future in India's economy, which until 1991 was heavily controlled by the government. In the land of Gandhi and the birthplace of Buddhism, grand displays of material wealth are still frowned upon.
Older men like Ashish Garde, who runs Nirlep, a company that has made nonstick pots and pans here since 1968, declined to join the group. Garde said the nearly $15 million spent on luxury cars would have been better spent on investments in industries that would create jobs or donations to charities. He declared himself satisfied with his economy car.
"Those of us who went through the hardships of the past know the value of money in a different way," Garde said." Those who get quick money, their relationship is different. After globalization things happen very easily."
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