Indian sensibilities stand at a crossroads in cultural and economic evolution, particularly regarding high-profile events such as concerts. The recent controversy surrounding the ticketing announcement for the Coldplay concert in Mumbai highlights significant challenges in this arena. The summoning of top executives from BookMyShow, the exclusive online ticketing platform, by the Mumbai police over ticketing issues makes one ask if it is a troubling bureaucratic reaction.
The sale of the Coldplay tickets - a private event legally facilitated by a digital platform - represents a legitimate business transaction in a free market. If the platform engaged in black-marketing, it rightfully deserves punishment. If 'ticket scalping' had been done by AI bots deployed by other platforms, then it's a lesson for policymakers in preparing regulations for cyber safety and consumer protection. However, it is essential to recognise that there is nothing wrong with person A purchasing a ticket from an official platform and then privately selling it to person B, a willing buyer ready to pay a higher price. This mirrors real estate transactions, where property values rise with announced infrastructure developments, or the increase in value of a private art collection when an artist passes away.
Allegations of black-marketing in such cases often reflect vested interests seeking to benefit from extortionist tactics. India is not a communist market, where ticket access is dictated by hierarchy; in a democratic market with free economy, the price of tickets reflects the intent of organisers, shaping the audience they wish to attract.
Let's consider Singapore as a benchmark. What can we learn from its ambition and focus on building an investor-friendly international city?
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