sometimes the story of indias economic journey since the mid80s sounds like a blossoming ragstoriches saga and when the raconteurs are famous artisans who built the foundation and continue to construct the edifice it becomes a rare glimpse into history and a peep into the future at the same timec rangarajan perhaps described the early 90s shift the best as the reserve bank governor rangarajan had then just set about repairing the countrys obsolete financial structure it was a new turn and direction in economic policy and management it was like the birth of a child it was painful he saidthose labour pains did delivermost of all a new crop of uninhibited entrepreneurs speaking to the elite of indian business prime minister manmohan singh said consider the fact that barely 15 years ago most of the awardees tonight were not well known figures a few weeks back at a similar business ceremony in delhi i found that more than twothirds of the nominees were not even in business in 1991 they were all children of reform not necessarily of businessmen many of the awardees are children of reform that is a measure of change under wayfinance minister p chidambaram held out what the magnitude of change was and what it has done to indian enterprise as of july 2006 3058 projects with a total investment spread of nearly rs 10 lakh crore were under construction that is only a third of the projects announced the other twothirds would mean an investment of another rs 20 lakh crore chidambaram said whats more last year india inc spent 10 billion to acquire companies abroad the finance minister said these are but only glimpses of the beginning of a growth wave that may change indias collective destiny lifting its multitudes out of poverty and ignorancesingh summed it up quoting robert kennedys remark on shaping history it is from numberless actions of courage and belief that human history is shaped each time a man stands up for an ideal or acts to improve the lot of others or strikes out against injustice he sends forth a tiny ripple of hope and crossing each other from a million different centres of energy and daring those ripples build a current which can sweep down the mightiest walls of oppression and resistance the five wise policymakers did stand up for an ideal and the ripples they set off are building up into fartravelling waves