It’ll give India’s economy a structural upshift
While the reform is expected to immediately boost private consumption, its deeper significance may lie in its potential to solve a far more stubborn problem: India’s decade-long decline in private…
Demand is at the heart of India’s capex conundrum
Without tackling core demand problems by empowering wage earners, easing household balance-sheet stress and revitalizing exports, sustained growth in industrial capex will remain out of reach. To achieve this, addressing…
Why Jagdish Bhagwati isn’t overly worried about world trade
To this day, any conversation with Bhagwati, now 91 and retired from Columbia University, is both educational and entertaining. Ask which metro stop is closest to his apartment and one…
The state should quit playing nanny
Last week, out of the blue, the Government of India brought a ₹2 trillion industry to its knees. Over the course of a few short days, a brand new law…
RBI must not abandon headline inflation as its target
The Reserve Bank of India (RBI) has invited comments from stakeholders on a discussion paper on the next five-yearly review of its monetary policy framework. This framework, called India’s flexible…
India must look east again as global relations get reshaped
I concluded my previous column arguing that the current geopolitical moment is similar to 1991 and that India ought to do now what it did then: undertake economic reforms and…