Indian exporters do not have strong negotiating positions with buyers, and therefore tend to get squeezed out disproportionately when trade hits a rough patch.
Over the past 50 years, India’s GDP growth has improved every 10-15 years, though it hasn’t really had many economically enlightened leaders steering it.
Former finance minister says the idea is impossible to execute under the present Constitution of India, also takes on government on the issue of job creation.
The three stars of a ruling party's Parliament majority, development agenda and low oil prices may never align again, that is the biggest takeaway from Economic Survey 2018.
It is necessary to break the spell of socialist dogma on the imagination of those attracted by its Utopia as the only scientific way of progress, wrote MA Venkatarao in 1963.
While bond yields tend to fall amid low inflation & interest rate cuts, market experts say they’ve been rising due to concerns over tax collections, fiscal deficit & potential impact of US tariffs.
It is one of the most advanced long-range air defence and anti-missile radars. It has been acquired under an about USD 145-million deal signed in 2020.
To be truly functional and durable, even eternal, a state doesn’t just need a leader, a party or an ideology. It needs functional and robust institutions.
This ignores the real problem: an overvalued Rupee. With all global markets on an upswing, unemployment levels at record low levels India is missing out. A 5-7% devaluation will change India’s fortunes and may even bring back BJP next year.
It indeed is sectoral. For instance, IT services exports have virtually become now a slow growth industry owing to maturity of the industry and not as many low hanging fruit; likewise indian pharmaceutical exports are suffering dramatic price erosion. Other sectors too might be facing similar challenges. We need newer growth engines and unfortunately they have been very slow to come by.
No obvious answers suggest themselves after reading the column. There is another reason to exclude exports of petroleum products and even gems and jewellery for the purpose of studying trends of export growth, for there is much lower value added, as compared to say, exports of automobiles or engineering goods. The focus, to reduce the merchandise trade deficit, will have to be on manufactured goods, with high local content. The sharp turn towards protectionism will not help, for it will insulate the Indian economy, make it even less globally competitive. At a time when remittances and software exports are levelling off, we cannot sustain a trade deficit approaching $ 200 billion a year.
This ignores the real problem: an overvalued Rupee. With all global markets on an upswing, unemployment levels at record low levels India is missing out. A 5-7% devaluation will change India’s fortunes and may even bring back BJP next year.
It indeed is sectoral. For instance, IT services exports have virtually become now a slow growth industry owing to maturity of the industry and not as many low hanging fruit; likewise indian pharmaceutical exports are suffering dramatic price erosion. Other sectors too might be facing similar challenges. We need newer growth engines and unfortunately they have been very slow to come by.
No obvious answers suggest themselves after reading the column. There is another reason to exclude exports of petroleum products and even gems and jewellery for the purpose of studying trends of export growth, for there is much lower value added, as compared to say, exports of automobiles or engineering goods. The focus, to reduce the merchandise trade deficit, will have to be on manufactured goods, with high local content. The sharp turn towards protectionism will not help, for it will insulate the Indian economy, make it even less globally competitive. At a time when remittances and software exports are levelling off, we cannot sustain a trade deficit approaching $ 200 billion a year.