India, too, is copying the Chinese economic model. The government says free trade has reached its limits, and so has been raising tariffs for five years. It has offered subsidies as high as 50% for some sectors like chip fabrication. …
Despite claims, countries, India included, are copying China’s ‘industrial policy’ Read More »
China strongly favours expansion of BRICS, seeing a chance to convert the grouping into an anti-Western front by inducting countries dependent on Chinese aid and investment. India should argue against rapid membership expansion where it will have little influence. The …
In India, industry’s share of jobs (25%) is actually higher than in Bangladesh (22%) or Indonesia (22%), and not much lower than in China (28%). Of course we would love to have a still higher share, but you cannot say …
View: Surprise! The notion that India has somehow failed in industry is just not true Read More »
Modi remains immensely popular. So, the NDA argues, it will definitely win in 2024. After Karnataka, that certainty has diminished to a probability. Corruption now matters. BJP has lost its halo. In all probability, it will still win the 2024 …
View: Post-Karnataka, BJP’s victory in 2024 is probable, but no longer certain Read More »
I was reminded of this when Indian External Affairs Minister Jaishankar recently said, “The West has a bad habit of commenting on others. They somehow think it is some kind of God-given right. They will have to learn only by …
Incentives should not be extended beyond five years: the biggest risk is that they will continue forever in flop sectors to save face and jobs. Demands from additional sectors to get PLI must be resisted. 14 sectors are already too …
Why PLI for cellphone making should be mostly for export, not domestic market Read More »
India has a huge comparative advantage in skilled labour, especially engineering skills. India now produces 600,000 engineers a year, and MNCs are harnessing this flow of inexpensive skills. Accenture has 300,000, of its global workforce of 700,000 in India. IBM …
Forget production-linked incentives, service exports represent India’s future Read More »
In this millennium, central banks across the world have adopted inflation targeting, sometimes to the exclusion of other concerns like economic growth or employment. Some monetarists hold that central banks should target only one parameter – inflation – since simultaneously …
Reserve Bank should not focus on inflation targeting alone, events show Read More »
In 2006, I researched and wrote a paper for the Cato Institute on Gujarat’s new strategy of port-based development. This strategy was launched by Congress chief minister Chimanbhai Patel in the early 1990s and expanded by BJP successors. I visited Gautam Adani‘s …
Why Hindenburg report is a blessing in disguise for Gautam Adani Read More »
Globally, similar corporate revelations occur periodically. They highlight the shortcomings of investment banks and credit agencies that give good marks and encourage massive investment in companies without sufficient scrutiny. The Hindenburg report is an indictment of global credit agencies and …
The Adani affair shows the unwitting virtues of the globalisation of scrutiny Read More »
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