The slump in global stock markets since July has wiped out an estimated $5 trillion of wealth, five times the GDP of India. So, world inequality has fallen dramatically. Are poor people across the world celebrating the great reduction of […]
Markets slump and inequality Read More »
Even if the US converts the 123 agreement into law, no US supplier will look at India until it passes a liability protection law. Since the Congress-led coalition lacks a majority, it cannot pass any legislation without your support. By
Relax, Mr Karat: 123 is a non-starter Read More »
The 60th anniversary of indepen-dence launched a thousand colum-ns on the achievements and failur-es of the last six decades. Some extolled our democracy and rise as an IT power. Others bemoaned the collapse of governance and appalling lack of basic
Our greatest achievement: longer lives Read More »
We are celebrating, simultaneously, the 60th anniversary of Independence and 150th anniversary of the 1857 mutiny against British rule. Some historians and most politicians call the mutiny the first war of independence. This is a dubious proposition. The concept of
Freedom, won by himsa or ahimsa? Read More »
The sub-prime problem may not be a big deal in itself. But it\’s a symptom of a bigger problem in the real economy: the bursting of the US housing bubble… The US is not the only market with a housing
Will the housing bubble burst hit India? Read More »
Ten years ago, the Asian financial crisis sma-shed markets and economies globally. Today, another financial crisis is brewing in the US mortgage market. Is this a small problem that will soon be resolved? Is it a serious problem that will
Financial hurricane from the US Read More »
Today, globalisation is equated with economic liberalisation. Of course, the Soviet Union once sought a different sort of socialist globalisation. But the Soviet Union is now gone, and globalisation is seen to be driven by the private sector. Indeed, the
Swaminathan S Anklesaria Aiyar: Forex Read More »
Earlier Indian companies cooked their books, kept profits black, and rigged their share prices up. Once foreign investors entered the market, they marked down the price of dodgy companies while paying high prices for companies with good standards. Some Indians
How foreigners improve our standards Read More »
It’s the 10th anniversary of one of the most successful international trade agreements India has signed. But nobody is celebrating it. Indeed, the remarkable fact is that few have even heard of it. This is the Information Technology Agreement (ITA)
Unsung success among trade Read More »
In February, The Economist (the British weekly) hazarded a guess that India\’s current account deficit in 2006-07 would be 3% of GDP. Others, including me, felt it would be closer to 2% of GDP. In fact, it was just 1.1%
The $23 bn black box in India\’s BoP Read More »
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