3rd Sep, 2010; Source: The Economic Times
Growth in the nineties averaged about 6% but now we are consistently doing better at 8% This has led to a sense of complacency and even triumphalism amongst policymakers and the media The ‘second fastest growing economy’ appears to be waiting comfortably for China to stumble so that we can perhaps even lay claim... Read More
OPEN THE DOORS TO ORGANISED RETAIL
30th Jul, 2010; Source: The Economic Times
The story of Indian retail is a complicated one To put things in perspective, about 40% of the country’s total GDP of $1 trillion comes from retail sales to Indian consumers The local, one-off corner stores account for more than 94% of this total retail sales of around $400 billion So-called organised retail that... Read More
8th Jun, 2010; Source: The Economic Times
Phase-II of the global recession was always going to hit the global economy That Greece took the honours was purely incidental The bigger issue is whether in saving the too-big-to-fail banks of the world, governments have overstretched themselves This is the nagging fear that is disquieting the markets Let's hope... Read More
Irrationality of global capital markets
11th May, 2010; Source: The Economic Times
Global capital markets are not perfect Nor are they rational, or even oftentimes effective A quick look at the performance of the capital markets over the last 15 years just confirms this In 1993, foreign investors pumped billions of dollars into short term, local currency, fixed income instruments in Mexico,... Read More
7th Apr, 2010; Source: The Economic Times
India has an almost unique system of promoters who own and manage much of the corporate sector There are the eponymous promoter groups that have been around for decades such as the Tatas, Birlas, Mahindras, Bajajs, Goenkas and Godrejs Then there are the relative newcomers such as the Ambanis of Reliance , the Mittals... Read More
8th Feb, 2010; Source: The Economic Times
India is such a land of contrasts that sometimes one wonders how the different pieces form part of the same whole How does the 8%-plus GDP growth economy coexist with one where little, unclothed children sleep in the freezing streets of our Capital How do we have a world-beating IT sector living side by side with huge... Read More
7th Dec, 2009; Source: The Economic Times
Imagine, as John Lennon said, if the country was managed like a company There would be a chairman/CEO — the prime minister, a board of directors — the Cabinet perhaps — a set of shareholders — the people, regulators — the Parliament, employees — the bureaucrats, and so on The key difference is that for a... Read More
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
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
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
