ECONOMIC GRAVITY SWINGS TO THE EAST


27th Oct, 2009;  Source: The Economic Times


What is one to make of this global downturn — is it a prolonged recession, a mild depression or merely a correction Is it likely to be V shaped, U shaped, a W or even (heaven forbid) an L Is unbridled capitalism dead, consigned to the dustbin of history along with communism Are regulated markets back in vogue, is a... Read More


LACKS DEPTH TO REFORM


7th Jul, 2009;  Source: Business Standard


The Budget presented by the finance minister today was a workman-like effort rather than an overarching one At a broader level, it seeks to continue the UPA’s economic philosophy of generating growth by distributing funds at the grassroot levels and letting the demand filter up, rather than being top down The... Read More


LEARNING THE HARD WAY


20th Nov, 2008;  Source: The Financial Express


It is amazing how quickly the India forever bull story has got punctured Of course, all this is happening on the back of an unprecedented downturn in the international economy and capital markets Nevertheless, it is a jarring coming down to earth of all those who subscribed to the sustainability of the India growth... Read More


INDIA: EMERGING MARKET CAUGHT IN EXTERNAL FACTORS


16th Jun, 2006;  Source: The Financial Express


Saying “I told you so” has a curiously unsatisfying quality to it That the market was crazily overvalued was apparent to most, but when the Sensex was rising so much , it was hard not to lose one’s conviction However, even during the Sensex’s upward march, a sequence of events was beginning to come together... Read More


HANDLING THE LESS HOSPITABLE ENVIRONMENT


2nd Jun, 2006;  Source: The Financial Express


Prasanna, who helps with the housework at my parents’ home in Delhi, told me on my recent trip there that he had put a substantial part of his savings into the stock market Not only that, he had also borrowed from a friendly bank to leverage his investment The recent correction, needless to say, has not been kind to... Read More


PLANNING AT A PREMIUM IN THE GOVERNMENT


21st Apr, 2006;  Source: The Financial Express


At some point, it gets totally beyond one’s comprehension The municipal body resurfaces the roads in your neighbourhood just before the monsoons and just as you begin to applaud their effort, they dig them up again There is this constant activity on the same roads Workers busily lay tar, and then sometime the very... Read More


GET AHEAD OF THE CURVE WHEN TIMES ARE GOOD


24th Mar, 2006;  Source: The Financial Express


Rahul Dravid’s decision to field first in the Mumbai cricket Test that ended in disaster for India was an example of misplaced confidence When you add the fact that the Wankhede pitch is a nightmare to bat on in the fourth innings and that the Indian team went in with only five recognised batsmen, Dravid’s... Read More


REPUBLIC DAY RUMINATIONS ON WHAT AILS OUR NATION


27th Jan, 2006;  Source: The Financial Express


It is now handily over 50 years since India became independent and our Constitution was adopted with India becoming a democratic republic The idealism with which the country embarked on its journey has been dissipated somewhere along the years I shall list below what I think are the major problems facing India and a... Read More


STRATEGIC INVESTORS SHOULD AIM AT REAL VALUE CREATION


13th Jan, 2006;  Source: The Financial Express


Hedge funds know how to pick stocks and make lots of money, particularly with stock which they can “trade at will”, unburdened by inside information or other constraints But, that is not the same thing as creating value through ownership of an asset over the long-term in a hands-on way Henry Kravis, Kohlberg... Read More


THE ENGINE TO DRIVE INDIA’S FUTURE GROWTH


16th Dec, 2005;  Source: The Financial Express


Recently, I had the good fortune to judge two MBA student activities, which I found were quite interesting The first event was part of a national business school debate competition called Acumen The topic of the debate was ‘Manufacturing, and not services, is the true measure of the health of the economy’ The... Read More