Globalisation has for the first time in history made poverty an advantage. It obliges companies to search the globe for ways to cut costs. The lower the wages in any country, the more competitive production there is, other things equal. […]
The squeeze on the middle Read More »
I am delighted that the pioneer of microfinance, Mohammed Yunus of Grameen Bank, has won the Nobel Prize. Disclosure norms oblige me to report that I have co-promoted two microfinance institutions, Arohan in Calcutta and Sonata in Allahabad. So I
The Nobel Prize mix-up Read More »
Management guru CK Prahlad is famous for his book “The Fortune at the Bottom of the Pyramid: Eradicating Poverty Through Profits.” This shows that the poor, often neglected by corporations as having no purchasing power, can be converted into the
Misfortune at Bottom of Pyramid Read More »
Three years ago, I thought Indian economy was trapped in a neo-Hindu growth rate of around 6 % per year. I was wrong. Growth has averaged 8% in the last three years, and looks set to hit that level again
GDP growing at 13.4% in dollars Read More »
Should iron ore exports be banned? No. Should an export tax be levied on iron ore? No. Should the royalty on ore be raised? Yes, hugely. Should iron ore exploration be opened to the private sector and FDI? Absolutely? Should
Don’t ban iron ore exports Read More »
Critics of globalisation have long claimed that the West controls the world financial system and uses this to help Western multinationals to dominate the world. Think again. In the first nine months of 2006, Indian companies have made foreign acquisitions
Global finance for Indian takeovers Read More »
Some conspiracy theorists will have you believe that everything in the Middle East is about oil, including the US invasion of Iraq. But the fact is that, three years after the invasion, the Americans have not acquired any Iraqi oilfield.
The Shia-Sunni battle for oil Read More »
For decades, I have argued that police independence and reform are crucial for governance. Public order is intrinsically political and must be handled by the Home minister. But crime detection and prosecution should not be political, and should be done
One and a half cheers for police reform Read More »
Laloo Yadav, who as Chief Minister presided over 15 years of economic and social stagnation in Bihar, is suddenly being lionised as a management guru. As Railway Minister, has transformed Railway finances and performance. The middle class remains shocked that
Laloo Yadav’s demographic dividend Read More »
Politically, the world changed irrevocably on 9/11. Yet from an economic viewpoint 9/11 could be called the day when hardly anything changed. Predictions of economic apocalypse proved laughable wrong. India is averaging 8% GDP growth for the fourth year in
Eat now, or wait for the cease-fire? Read More »
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