Our Finance Minister wasn’t giving her opinion on the automotive industry and was citing Deloitte’s global study that stated: “consumers in India feel empowered trusting the power of digital solutions that make their commute safer.”
Now, I resonate with the study, holding millennials responsible for the auto sector slowdown. I also hold millennial responsible for 2019 election results because, like no generation ever before, it is easy to commoditize and influence.
Millennials have this false belief that they are front row viewers of development rather than victims of planned obsolescence. For instance, show millennials different shades of Lipsticks and paid versions of PUBG and they will drive the economy mad in the Uber pool.
The study and Nirmala Tai have beautifully grasped millennial mindset because I have no intention of purchasing a vehicle immediately and going for another EMI to die with the defaulter tag in Punjab National bank. You can call it the commitment phobia because it is an epidemic amongst the millennials.
I know where it’s all coming from. Millennial attitude is disagreeable where they don’t get married, don’t cook, don’t buy houses, don’t buy cars, and don’t breed kids. All they like is traveling, shopping online, Netflix and chill, meals outside, and adorable dogs and cat videos on social media.
Millennials, like Piyush Goyal, don’t follow utopian guidelines. This gen must shake off any entrepreneurial spirit, once promoted by the government itself. Another reason to blame millennia is for the declining unemployment rate.
I am concerned about the economy as it’s the talk of the town. It’s an unfortunate fact that because of a tanking economy, millennials don’t buy stuff, mostly because of the decisions made by the non-millennial government.
The slowdown in consumption began with the note ban, as reported by RBI a few weeks ago. It triggered a drop of an amazing 73% of the gross bank’s exposure to consumer goods loan and continues to fall. The automotive industry is not the only one that has gone into a ditch.
At the moment, the textile sector is also tumbling, with last year’s unthinkable 33 percent fall in cotton yarn exports. Texprocil’s chairperson, who is not a millennial, has specifically pointed out that this is a question of deep concern as this is the last five years’ lowest monthly export.
Because of the rise in GST, many memorable and great products are decelerating. For instance, Parle G, the supply has dropped so much that the company might have to let go of nearly 10,000 staff before situations get worse.
Although I love chai and it’s the first thing I’ve had for the previous 15 years in the morning, the 170-year-old Assam Tea Industry is dwindling, thanks to rising manufacturing expenses with no corresponding increase in supply.
I’d blame it on millennials because they prefer Frappuccinos and slimming tea.
In almost every avenue of the economy, we face an unprecedented slowdown. According to the reports, senior executives at the HUL recently used the term recession. This is a terrifying term for this generation because there is a crisis in jobs and it is the most affected lot.
When you go down to education, gender and caste, and woman’s safety, things get increasingly worse.
I think millennials are the only ones who aspire for a better lifestyle so they can wander off to Murthal with their friends to have overrated parathas. And show it off on social media. It is the only reason prized possession like cars are still running high, despite the lump.
If the government offered an option, millennials would be pleased to purchase even the Taj Mahal because they are hopeful dreamers. They discuss their hopes and dreams to make the world a better place to live in and make every bit of the effort to spread awareness about the environment, gender, caste, and society. It is important to raise valid questions when the need arises because anything that happens in the economy or society will equally affect them.
Don’t hate us for not buying cars. We will soon drive India’s economy.