Chapter 807: Mining Boom!! Street Lamps
The stimulation brought to the empire by the resources extracted from the overseas territories was not small. Many sectors of the society affected by the abundance of raw materials grew rapidly, the mining industry, manufacturing industry, and logistics industry, along with various other industries saw blowout growth after a long time.
The mining industry is the industry that was directly affected the most. With the discovery of several mines in the overseas territory of the Bharatiya Empire, the mining companies have started to make huge profits. The royal family, which discovered a lot of mineral veins, did not directly mine the minerals by themselves but instead sold the mining rights to the mining companies of the Bharatiya Empire in an auction.
This led to the mining industry developing more quickly. Some of the mining companies in the stock market, like the Kombay Minerals Company or Jyothi Minerals, have jumped up in stock prices by three times on average in the last 30 days. Kombay Minerals had gone from 98 Varaha per share to 200 Varaha per share, bringing the total valuation of the company to 400 million Varaha. Jyothi Minerals, as well, being one of the first mineral exploration and extraction companies operating overseas, the share price has gone from 15 Varaha to a whopping 60 Varaha—an increase of four times in a matter of a month, bringing its valuation only a little short of 100 million Varaha.
Due to the blowout growth experienced by the mining industry, which happened for the second time in the last few years, the number of jobs directly generated was in the hundreds of thousands. This metric was especially pleasing to the politicians, as the mining industry, very similar to the infrastructure industry, is one where the qualifications of the workers do not matter. For this reason, people from the aspirational class and lower middle class who did not want to immigrate to the overseas territory decisively took up the job as a miner.
In order to get employees in a more centralized way, the top mining companies like Kombay Minerals, Chittyar Mining, Patnaik and Bros, Bora Explorers Pvt Ltd, Bizenjo Mining, Shrestha Minerals, Bhonsle Mining, Jyothi Minerals, along with other new mining giants, cooperated with private human resources companies in the empire like the Indra Manju Human Resources, Manushya Human Resources, along with other companies.
The growth of Indra Manju Pvt Ltd had slowed down due to the appearance of competitors in their industry, but with such a large-scale recruitment order from the clients in the mining industry, the growth immediately exceeded all the growth they had seen in the previous period. After obtaining the biggest contract in their lives, Indra and Manju were so happy that they even decided to list their company on the stock market now that their revenue had reached its highest yet.
The company went public at the Mangaluru Stock Exchange at 20 Varaha per share, with 300,000 shares put into the market with a total value of 30% of the company, which is valued at 20 million Varaha. On the first day alone, the price of the stock rose by a whopping 75%, where 20 Varaha rose to 35 Varaha, while the valuation went to 35 million Varaha. It was one of the biggest jumps in valuation and value of the company the traders of the stock market had ever seen.
With the money obtained from the stock market, Indra decisively set up permanent recruitment locations in 3,450 places around the empire. With this, other human resource companies which were started after witnessing the profitability of Indra Manju immediately wilted, as the decision taken by Indra left them nowhere to live, as they couldn't really afford to employ people from all over the empire, even in the remotest places.
As a contribution of Indra Manju Human Resources, who even went to some of the remotest towns and villages to recruit people, joblessness dropped drastically, thereby making the government grant the company tax exemption for three years.
All the minerals mined by various mining companies were pulled into iron and steel companies throughout the empire. Iron ore was consumed by the iron and steel industry like a behemoth with insatiable hunger. Iron beams, steel blocks, and other things were being produced at very fast speeds. In the span of three months, 450 iron and steel companies have been added to the Bharatiya Empire. Not only that, some of the most prominent iron and steel companies have also established branches in overseas territories, making the development speed of the overseas territories much faster. Vijay even had the smelting and production of iron and steel split into a completely different company from Raya Machinery Group. Vijay officially established the Raya Iron and Steel Group while establishing branches in the overseas territories.
Once again, driven by the exaggerated growth of the iron and steel industries, thousands more jobs were produced, giving a chance to the hundreds of thousands of university students who are graduating from various private universities.
The logistics industry is another industry that has greatly benefited from the resources coming from the overseas territory. In order to transport the resources, since the government doesn't do business directly, they have been handed over to private companies. Given that there is no bureaucracy involved and only the best logistic companies are selected to transport the goods every time, the overall quality of the logistics industry has greatly improved.
VRL Logistics, Brown Logistics, Great Eastern Shipping Limited, Oppenheimer Goldstein and Co. Shipping, Reliance Shipping and Shipbuilding, Ramayya Shipping, Basavaraju Logistics, Limitless Logistics, Neelakanta Logistics are all the logistic and shipping companies that have been greatly benefited from the transportation of minerals from the overseas territories to the Bharatiya Empire, as well as transportation of different materials within the empire.
In fact, the logistics industry was so highly stimulated that it was added to the list of one of the backbone industries of the empire by the intellectuals, right alongside agriculture, manufacturing, mining, medical care, and legal. In an interview, Abhijeet Kumar Sen, the leading economist of the empire, even mentioned in one of his interviews in the Times of Bharat that the logistics industry is already a billion Varaha industry, and its room for growth is unlimited, which led to more people paying attention to the logistics industry, which was not considered mainstream until now.
Driven by these changes, the migration of people to overseas territories further accelerated. Proportionally, the development of overseas territories also accelerated.
However, not everything was all good. The real estate industry suffered a severe setback as prices of land all over the empire fell to rock bottom. Before the initiative taken by the government to open up the frontiers and establish strongholds, the price of land in the Bharatiya Empire was on the rise, making it a high-reward industry contributing nearly 2% of the empire's gross domestic product (GDP). But with overseas land being hundreds of times cheaper than the land in the empire, while being a lot more in quantity, the price of land in the Bharatiya Empire plummeted, causing a loss to a lot of real estate companies who started to recently trade in commercial property for houses or industrial lands. Even though the price of land is still more expensive than the land in overseas territories, it is nowhere compared to what it used to be a year or two ago. But not everything was gloomy, as the saying goes: dangers and opportunities coexist—it just depends on which way you look at it.
Due to the lowering of prices, people are more easily able to purchase land. Even people who don't work in a factory can now purchase dozens of acres of land in areas with proper transportation.
Even the plots in various cities also decreased in price, making it possible for a lot more people to buy and build their houses in big cities.
Before, due to Bharatiya's obsession with land, the real estate market was a little overvalued because the first thing anyone who made money wanted to buy was land, whether it could make a return or not. It is for this reason that the prices kept on rising despite the amount of profitability the lands could bring staying the same in most rural areas. But with the opening up of frontiers and seeing the huge difference between prices, the small artificial bubble that had formed in the real estate industry suddenly popped, and the land prices began to regulate themselves to the most reasonable prices.
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Bengaluru
Amar carefully measured the kerosene in a litre jug that was given to him and poured it into a metal Flask. He put the litre jug aside and then took a half-litre jug. He filled the half-litre jug and poured it into the metal Flask.
He put the lid back on top of the kerosene drum, after which he took a one-and-a-half-litre bottle of kerosene, got out of the warehouse, and left the store.
Amar came in front of a tall metal pole that had been installed on the main street, with anticipation and excitement on his face. By the time he reached the pole, a few people were already standing beside it, looking at the pole curiously because, until now, most people were unaware of why the poles had been installed after the streets of Bengaluru had been destroyed. While some people found the poles very artistic with their unique carvings and motifs, others thought they were pointless. But when they saw a man coming toward the pole with a canteen in his hands, they all stopped their discussions and looked at him, eager to see what he would do.
Amar reached the pole and did all the inspections like he was trained. The people around looked at him as if he was doing something very special, which made him a little uncomfortable, but he soon recovered. He took out a key from his pocket and opened the latch on the metal pole, which was at a height where it could reach his waist.
Looking inside, the different mechanisms appeared very complex, but fortunately, Amar was trained in how to operate them. He quickly attached a handle to the mechanism and turned it in a circular motion. The gear turned, causing the astonished gasps of everyone as part of the pole inexplicably came down from the top.
Amar immediately removed the cap on top of the canteen he was carrying and placed it into the chamber within the pole. He drenched the cotton wicks in kerosene and set them on fire.
He had let the wick burn a little too high, so he immediately turned the gear knob, which lowered the wick slightly, controlling the flame.
Making sure that everything else was correct, Amar quickly turned the gears, and the lamp light disappeared. But it was just an illusion because, after a few more turns, the light started to reflect from the top of the pole, illuminating the surroundings with a golden, radiant light.
"Woah, amazing!!"
A person immediately exclaimed, looking at the top of the pole with shock on his face.
"It's really an ingenious idea!" A woman immediately realized why the poles were installed in the centre of the street.
Soon, discussions broke out, and people started to enjoy the light brought by the lamps in the evening, with amazement on their faces.
Looking at them, Amar sneered. Everyone had been scolding the Bengaluru Panchayat only a few days ago, but now that they knew why the poles had been dug out, their opinions had changed so quickly. He looked at the people as if he were a superior overlooking the inferior, completely forgetting that he was the one who had scolded the Panchayat labourers the most when they came to dig up the cement ground. However, after receiving the training on how to operate the street lamp, his opinion had shifted 180 degrees.
"Woah!!!"
The next moment, more street lamps lit up throughout the street. All the people who were hurrying back home after a busy day of work or after completing their shopping were mesmerized by the lights that were lit up in the street. They all stopped what they were doing and stared at the lamps, mesmerized.
"Mother, look!!"
"Father, what is that? What is that?"
"Husband, look!"
Little boys and girls, newly married couples, young men and women, all pointed at the streetlamps with astonishment, while the old men casually walking on the streets rubbed their cloudy eyes and looked at the street with smiles on their wrinkly faces.
One after another, different streets of Bengaluru began to light up, illuminating the darkness that the human species had faced since its existence.
People, in happiness, simultaneously began to dance and sing. Houses near the street and shops selling musical instruments brought out their instruments and began to enjoy themselves. The day when the street lamps lit up, turning the city of Bengaluru into a magical carnival city of music and dance. The children, who were supposed to eat their dinners and go to sleep, ran out into the street, running around with enthusiasm and bright smiles, while they ran from one house to another, accumulating all their friends.
Police officers, civil servants, doctors, lawyers, priests, teachers, labourers, businessmen—whomever it may be—everyone came out of their houses, office rooms, and shops to look at the first light that illuminated the city. The priest was so touched that he immediately went into the temple and had it lit up throughout the compound with the help of the devotees. Noticing this change, houses and shops slowly began to light lamps and place them on the compounds of their homes, making the whole scene look like Deepavali had come early.
When Embassy Street was also lit up with radiant golden light, Simeon Brezhnev came out of the embassy with his mouth wide open. Pedro Santiago, his neighbour, also came out with shock written all over his face. Oscar Anderson, Jan Kowalski, Heinrich Mueller, Pedro Santos, and Leonardo Bellini were all mesmerized by the scenery.
The ambassadors of Southeast Asian Kingdoms were no exception, including Prince Sourigna Vongsa II. Everyone was shocked.
As the light started to radiate outward, the final-year students of Kartavya University, who had gotten on top of their campus and were sitting at the edge of the roofs, all screamed in excitement and happiness.
A girl wearing spectacles even cried.
A couple of Black African boys, noticing the commotion, came out to see what had happened, but when they saw the dazzling light that lit up the most prosperous city they had ever seen, they couldn't believe their eyes. They even had to rub their eyes continuously to be sure.
"Immortal city."
"This is definitely an immortal city," Ekema Mbongo said in astonishment.
Vijay, standing on top of the clock tower of Bengaluru, the tallest building in the Empire, smiled in satisfaction as the city he loved and adored shone with brightness in the darkness of light that only the cities of the future could have.
He had finally succeeded in building the first city in the world that never sleeps.
P.S. I might only write 1 chap per day for 2 days