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| December 31, 2008 | | The need for petroleum pricing reforms
After all, general elections are round the corner and it is not reforms but hand-outs that will fetch greater returns.
Terror attack: Key queries and what India Inc can do
India Inc can immensely contribute in this area. Indian managers at McKinsey, BCG, Hindustan Unilever, TCS, etc. can write the processes, help train our people. India is an IT superpower. Companies like Infosys and TCS can help develop a technology strategy for the nation's security.
Home shopping comes of age
Home Shopping, it seems, is serious business not just on TV but across media.
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| December 27, 2008 | | Why India's ability to forecast is so poor
The government's statistical system is being overhauled with painful slowness. The base years for the indices are too far back in time, the weights for different sub-sets are out of date, the methods of data collection are defective, and the statistical methods used simplistic.
Failure of board oversight
If there is one great news out of the Satyam case, it is that the press and institutional investors are acting as watchdogs.
Financial crisis: Getting facts right-I
2008 was a study in surprises, but that fact seems to have launched a barrage of commentary that borders precipitously on doom-mongering.
Global accounting standard: Challenges India faces
With India set to adopt IFRS in 2011, a number of legal/regulatory issues need addressing for a smooth transition to the globally-followed accounting standard.
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| December 26, 2008 | | 'Nodders' in the boardroom
Most independent directors have mastered the art of nodding whenever the chairman says anything.
BRICs too small to lift global growth
The simple truth is that BRICs are still too small to be global locomotors unless they sustain double digit growth, which they manifestly can't in the present environment. Of course, the fact that the Asian BRICs are still expected to enjoy moderate growth in 2009, is itself testimony to their resilience in the face of global recession.
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| December 23, 2008 | | Begin with the end at B-schools
To begin with the end is to start with a clear idea of the goal. Once that is clear, you will have a better idea of the steps you need to take to get to that destination.
Hurt by namby-pamby pilots
Sadly, the WTO is not in a position to stop the damage caused by dominant players due to its namby-pamby pilots!
Pharma regulator fails again
The death of a participant in a clinical trial by a Hyderabad-based contract research firm has refocused attention on the practices followed by an industry which is said to have great promise, because it can earn good dollars by leveraging cheap Indian skills.
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| December 20, 2008 | | Of pride and poverty
Bankrupt West Bengal has more VIPs with security than rich Maharashtra.
A National Identity System=huge benefits
It generates huge end-user benefits as well as dramatic industrial spinoffs.
Enough is enough: Nothing will change
The world is not about to change just because some people get angry and call for tax boycotts. Indeed, citizens seem to be quite happy with the governments they have -- three of the five that went back to voters have got re-elected, and the voting percentages have been large.
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| December 19, 2008 | | Why car makers are in trouble
While Detroit's Big Three wrangle with the US Congress for a bailout, we could be witnessing another extinction story.
Satyam: A new low for India Inc
In an economic downturn such as this, when the markets have crashed, there are many more Satyams which are vulnerable to hostile takeovers because the promoters do not have a controlling stake. Such promoters will be tempted to take cash out of their companies and park it elsewhere.
How Satyam case has dented India Inc's image
It is unfortunate that Corporate India's image should be dented in this fashion; but it would be even more unfortunate if the Satyam case did not lead to a more careful scrutiny of what exactly goes on in Corporate India.
GoAir: Budget airline or not?
From being a low-fare, low frills airline, GoAir has out of the blue announced the launch of something called 'GoComfort'.
Common sense is not that common
We should be less doctrinaire about monetary and exchange rate policies and stimulation packages.
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| December 18, 2008 | | India's terrible telecom networks
Demand has outstripped capacity, not enough spectrum (in the case of mobile) and maybe not enough on-ground investment to keep data speeds high and voice quality good.
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| December 16, 2008 | | Pathetic tale of services sector in India
No wonder all of us collectively have decided that nothing can be done at an individual level, and individually understood that at a collective level, nothing can be done.
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| December 12, 2008 | | Trade protectionism cannot fight economic crisis
The recent financial crisis and prospects of a prolonged downturn in global economic activity have once again invigorated the critiques of global financial integration and free trade.
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| December 11, 2008 | | Poor India, rich politicians
Those looking to see just how fast India is growing would do well to see the growth in assets of elected representatives.
Recession: India's prospects in 2009
With over 60 percent of global GDP having toppled into recession, a significant deceleration of India's economic growth is simply unavoidable.
The success of BPOs in rural India
BPOs can transform the face of rural India if they can retain even a small proportion of educated youth in villages.
Benefits of port liberalisation
Gujarat's ports have not just enhanced its industry's efficiency, but also spawned a slew of new industries like ship-building.
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| December 10, 2008 | | What's wrong with the economic package
The so-called fiscal stimulus with which the government spokespersons have gone to town is actually a crazy quilt of disparate offerings devoid of any evidence of their having been woven together with any larger design or purpose.
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| December 09, 2008 | | Remanufacturing: India needs to be alert
No other country can match the uncanny knack of the United States in pushing its agenda for trade negotiations. Recent inclusion of issues like remanufacturing into current WTO negotiations is a case in point.
Chidambaram: Glad to switch over?
A slew of economic indicators in the current fiscal threatens to sully P Chidambaram's record as FM.
The first rules of central banking
Never allow financial capital to dominate over the real economy.
Why industry must cut prices
A slowing economy needs stimulus packages to bring back growth on the track. It is my belief that while the government has to do its bit in areas like infrastructure, hard and soft, the private sector is yet to do enough this time around.
Can the economy be over-stimulated?
Is it possible for the economy to be "overstimulated"? How would we know?
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| December 06, 2008 | | Terror: What happens to the money allocated?
The first step would be to understand that the system's failures when it comes to preventing terror strikes are symptomatic of failures elsewhere in the government; the real problem is the government's increasing incapacity to function.
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| December 05, 2008 | | Of abbreviations, acronyms and financial crisis
At the heart of these predictable manifestations of business cycles usually were financial instruments which became so popular that they came to be more commonly referred to by their abbreviations or acronyms than their original names.
Is it the end of India's rave?
Easy credit magnified the impact of higher incomes during the boom - a depression mentality will multiply the impact of a loss in incomes.
Will terror attacks change the face of India?
Brand India has a lot of inherent product equity and strength that will see it through this upheaval.
Terrorism: What India Inc must do
But industry needs to take up the issue at the highest level, business groups need to set aside their differences and work together, inconceivable as the idea may seem. It would be a pity if the corporate sector were to keep quiet this time.
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| December 04, 2008 | | The 3G auction blunder
India began systemic reforms in telecommunications over 10 years ago with auctions
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| December 02, 2008 | | What did you do today?
The heavyweights among the ministers that make up the Central government have spent their time schmoozing at the right places, wearing the right attire and, of course, making the right noises without an iota of action.
Needed: A full-time FM
Manmohan Singh may be the best suited to take charge of the finance ministry after Mr Chidambaram's shift to the home ministry. The problem is that Dr Singh already has a full-time job.
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| December 01, 2008 | | FDI through Mauritus: Has the dust settled?
The Foreign Investment Promotion Board seems to have laid to rest the controversy surrounding FDI investments routed via Mauritius.
Laws may have to intrude on hospitality
Rules of conducting businesses likely to be impacted.
Terror: The question of liability
While horror and anger transcend all other emotions about Mumbai's Black Wednesday, eventually they will also raise issues of liability and damages. That the losses were occasioned by forces beyond the control of the management is not in doubt. Nonetheless, a critical issue would be: Whether these hotels were insured against acts of terrorism.
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| November 26, 2008 | | G20, Manmohan, and the 'only good news'
Except for China's leaders, few others have any capital or standing to make a difference. Not Manmohan Singh or George Brown, both on the way out. But Manmohan Singh would typically read being there as India coming of age under his stewardship. The only good news for us is that our elections are around the corner.
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| November 25, 2008 | | Manage interest rates, not prices
A tight interest rate regime and falling demand will induce the suppliers of goods to cut prices and focus on inventory rather than ego. Tight interest rates affect demand too, as in home and vehicle loans, but the hit cannot and should not be taken by consumers, says .
Bankers: From hunter-gatherers to farmers
Just as the Sumerians had to make the transition from hunting to farming, bankers are learning to deal with derivatives while curbing their dangers.
Credit crunch: How industry is coping
We seem to have a chicken and egg problem here. The liquidity shortage is being blamed for the dire situation that Indian industry finds itself in.
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| November 24, 2008 | | Banks: U-turns in the US policy
Lehman Brothers was allowed to go bankrupt. One has not seen any convincing explanation for the different treatment.
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| November 21, 2008 | | Use of meltdown as USP appalling
An entire nation and even the world is literally walking on a razor's edge, yet we have some marketers of insurance and banking products using the financial crisis as a plank or a fear factor to sell? A G Krishanmurthy is appalled by their lack of ethics.
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| November 18, 2008 | | Global crisis: What's the G20 plan
Despite President Bush's attempts to talk up the 20-country emergency summit on financial markets and the world economy, it was hardly surprising that the outcome yielded little in terms of substantive solutions to a problem that goes beyond the immediate threat to global growth.
Why derivatives are weapons of mass destruction
With volatility persisting, Warren Buffet's description of derivatives is turning out to be more and more apt, says .
Global crisis: What's the G20 plan
Despite President Bush's attempts to talk up the 20-country emergency summit on financial markets and the world economy, it was hardly surprising that the outcome yielded little in terms of substantive solutions to a problem that goes beyond the immediate threat to global growth.
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| November 14, 2008 | | The Ayn Rand twist to the Greenspan plot
If the famous Greenspan 'put' is at the heart of the crisis, blame it on the faith in unbridled free enterprise he inherited from Ayn Rand.
The wisdom of Nehru's middle path
'India now has a great demographic advantage in having half the population in the 25+ age bracket. The so-called brain drain of the 1960s and 1970s is now reversing. The economic fundamentals that were laid out in the first four decades which many dub as the period of 'Hindu' rate of growth paid off ultimately and the country is now well poised to being an economic power in its own right.'
Is inflation just a matter of luck?
Whether lower inflation is a result of globalisation or just good luck remains the
Why predicting the market is like predicting the weather
Which is why is always suspicious of market analyses -- whether 'fundamentalist' or technical. Using scientific methodologies to try and analyse forces that are at-best science plus always -- being euphemistic -- leaves plenty of room for interpretation. The trick, of course, is in figuring out the interpretation.
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| November 13, 2008 | | Jugaad: India's gift to the world
This unique verb loosely translates as 'making do' and is sometimes unfairly used in the pejorative sense. But extend the idea a little more and it could be interpreted as 'maximising scarce resources.' There is no better time to cash in on this outlook than now, as the world heads for a slowdown and corporations struggle to grow top and bottom lines, says .
Want the right job? What you need to know
"Employers have become extra choosy. Earlier, the demand was so much that some companies were willing to recruit anybody with a pair of hands. It's time now to separate the men from the boys. So you recruit less, but recruit better," says an HR consultant.
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| November 08, 2008 | | Obama win and BPOs: Can we talk of self-respect?
Looking for crumbs from Obama doesn't say much for India Shining.
Financial crisis? The news getting worse
If you look at the broad numbers, industrial growth in the first five months of this year was 5 per cent, compared to 10 per cent a year earlier. As for next year, the International Monetary Fund has in the space of a month lowered its forecast from 6.9 per cent to 6.3 per cent -- a range where perhaps only one Indian forecaster has dared to tread so far.
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| November 07, 2008 | | Times of upheaval create great leaders
When the environment is one of gloom, panic and fear of the unknown, you could be paralyzed into inaction. You could crib and wait for the sentiment to change by itself. You could listen to soothsayers. Or you can choose create the future with hope, dreams and aspirations. This environment always throws up unique opportunities. It takes a visionary to see and relentlessly pursue them and achieve success, says D Rajappa.
Solving India's transportation crisis, the Obama way
We need to change our policies to get more buses on the roads -- in Obamaspeak, we need change we can believe in, says .
Dragged down by financial leveraging
Obviously, with the larger corporations in a bit of a spot, ancillaries and vendors are feeling the pinch; others too are finding the going tough. Over the past five years financial leverage helped earnings; it will now work the other way, says .
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| November 06, 2008 | | Mumbai's woes: How other states are to blame
People come to Mumbai because they can't find jobs in their state that can offer even minimum sustenance. People leave what passes off as their home and hearth and arrive, near destitute but with hope in their dim eyes, in big cities, not just Mumbai, says
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| November 05, 2008 | | Manmohan Singh's masterstroke
With inflation under control and no fear of large-scale retrenchment, the Congress election campaigners may feel a little more emboldened before the polls.
The credit crunch conundrum
Funding for Indian companies that have borrowed abroad has also dried up because of trouble in foreign credit markets, forcing these companies to turn to the domestic banking system for credit. And firms' own funding has declined as profits have headed south.
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| November 04, 2008 | | Economic crisis: The path to recovery
But in an economy with perennial infrastructure deficit, we could do well to increase spending on these and increase the productivity and employment potential of the economy. Maybe fiscal fundamentalists should look the other way and hope for faster recovery.
The lowdown on the slowdown
Like all slowdowns this one will precipitate the shut down of unviable businesses that were riding high on easy capital. It will also mean some consolidation, especially in the television and publishing businesses where several small to medium scale firms are ripe for takeover, says .
Global crisis: Positive spinoffs for India
There is the sliding price of crude oil - which is now trading at less than half of the $147-per-barrel peak that it touched three months ago.
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| October 31, 2008 | | Spectrum: Licensed to make a killing
Since the government got Rs 9,000 crore (Rs 90 billion) from the companies to whom it sold the spectrum last January, using the Swan valuation meant the government had got around Rs 44,100 crore (Rs 441 billion) less than it should have got. But even this valuation, it now appears, may have been an underestimate.
How spite and development are related
It is harder to motivate a spiteful person to cooperate because there is a higher marginal cost to contributing to a public good - now there is also a non-pecuniary cost, any contribution may reduce his relative higher position.
Thirty-eight to the dollar in five years
The India story will look even better than it did over the past few years.
The 'bailout' India really needs
The aam aadmi are reaching a point of desperation.
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| October 24, 2008 | | Global storm hits Indian IT
That this is just the beginning of hard times is indicated by the downward revision in the dollar guidance by Infosys and Satyam and a flat projection by Wipro (TCS does not issue any guidance).
Mother of all bailouts: Costing the earth
The development model that got us in the current mess is still very much in place.
Is our govt living beyond its means?
A combination of timing (the Pay Commission), political compulsions (the loan waiver) and circumstances beyond the government's control (high energy prices) have contributed to a significant reversal of what was shaping up as a very healthy trend.
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| October 23, 2008 | | Mindless deregulation disastrous for India
Not only has India failed to learn from the US experience. It continues to bank on the same deregulation model even after it has so manifestly failed on its own soil, as evidenced by the bankruptcies of ModiLuft, East-West Airlines and Damania Airways in the 1990s.
Recession: When the giants fall
The past few years, politically, and the recent economic turmoil raise questions about democracy and finance capitalism.
The 70:30 land acquisition formula
The plan asks private parties to buy project land directly from farmers, with the government stepping in to acquire only the final 30% required after 70% has been sold by farmers of their own free will.
The crashing of airy dreams
Having experienced the affordability, convenience and joy (in most instances) of flying in India and flying overseas with Indian carriers like Jet, it will be criminal if the government lets this sector become sick, and a tragedy if those who have the power to influence the government to finally take urgent and pragmatic measures fail to do so.
Reinvention, Singapore style!
The city-state is outgrowing its culturally staid image to become an art and sporting Mecca, says .
A fairy-tale end to the finance crisis?
At best, governments and central banks can reduce the disruption to economic activity in the transition to a lower-debt world, says .
Want profit? Increase IT expenditure
According to McKinsey numbers, IT expenditure can give a return of up to around 10 times by reworking supply chains and logistics, managing resources better and so on. If a firm reduces IT expenditures by around 15 per cent, this will add around 0.5 per cent to long-run EBIT. Retaining expenditure levels could add 1-2 per cent to EBIT in terms of better merchandising and 3-5 per cent in terms of better pricing by reducing revenue leakages.
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| October 21, 2008 | | Economic fissures: Deep and wide?
The August numbers for the index of industrial production were a shock, reporting growth of barely 1.3 per cent -- the worst in many years. The manufacturing sub-sector did even worse, with 1.1 per cent growth.
Dollar's strength may not last
The world, India included, has entered a period of substantially lower growth, which is likely to be prolonged because the balance sheet implications of the end of an unprecedented financial high wire act will take time to play out.
Oil: Hold the price line
While a price cut will go down very well with people who have been struggling to cope with inflation, it would be irresponsible on the part of the government to cut prices.
Rich crops, poor farmers
Those who thought that good crops in the past few seasons made farmers better off need to think again. The truth is that most of them are worse off.
Paying through one's nose (again) for Dabhol
As turbines fail and costs shoot up, is anyone accountable for the mess at India's costliest power project.
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| October 20, 2008 | | Nano from Gujarat: Legitimising Moditva?
By shifting the Nano factory, Ratan Tata has behaved like any other businessman in search of low-risk investments and high profits.
Needed: A new monetary framework
Should central banks explicitly respond to rising asset prices by imposing specific restrictions on individual institutions, drawing liquidity from the system or raising policy rates? Yes. As they return to some degree of normalcy, financial markets must recognise the new boundaries within which they will be expected to operate. Investment decisions will now have to build in the expectation that if government actions can provide a floor, they can also provide a ceiling.
The dollar's strength is a mystery
On the other hand, the yen's rise against the dollar is not very puzzling. For many years now, the biggest influence on the yen's exchange rate has been the "carry trade", borrowing or using low interest Japanese currency to make unhedged investments in high interest currencies.
Telecom's other $10bn problem
The government is likely to get around Rs 11,000 crore (Rs 110 billion) in terms of its revenue-share licence/spectrum fee this year from telecom operators - if all of them decide to report revenues that are lower by a fourth, this means a loss of around Rs 2,750 crore ($550mn) in licence/spectrum fee to the government.
Importance of being Krugman
Even though this year's Nobels have come in for some criticism, in one field at least, the committee seems to have got it absolutely right.
Get ready with money for stocks!
Keep a war chest ready to take advantage of the likely dips till the general elections.
Impact of reversing the ban on PNs
PNs allow such investors (primarily hedge funds, other leveraged investors and high net worth individuals) to enter and exit the India market without the need to register and establish settlement facilities and other requirements. Since it has been difficult for regulators to know those using PNs, questions on the source of such funds have risen.
Credit card? Look at your salary first!
While banks may offer a good credit limit, look at your salary and needs before spending.
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| October 18, 2008 | | Is Indian aviation heading for disaster?
If Jet and Kingfisher are not allowed to rationalise their businesses, including staffing, expect the biggest crash ever in Indian aviation.
A Global Depression in sight?
It will take a big change in economic policy and very radical, coordinated action among all advanced and emerging-market economies to avoid disaster.
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| October 17, 2008 | | Jet Air issue: Raj Thackeray's word is law
After all, the employees did not flock to the Shiv Sena-run union but to Raj Thackeray despite the fact that many of the sacked employees were not Marathis. These non-Maharashtrians, going by the Raj Thackeray-led Maharashtra Navnirman Sena, were those who came and usurped the local's share in Mumbai's and Maharashtra's economy.
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| October 15, 2008 | | Do you know what a patent troll is?
The overriding image of the patent troll is of an entity that relentlessly hounds companies, individuals and institutions that it thinks has incorporated the IP in any patents that it owns in a product without due permission. Its main activity is the business of suing and it is a creature more reviled than the troll of mythology ever was, says .
Crisis: What more needs to be done
The RBI must drop the cash reserve ratio (CRR) by another 100 to 150 basis points, to release a further Rs 40,000-60,000 crore into the system. The CRR will even then be at 6 per cent or higher, which is at least double the statutory minimum and therefore a perfectly acceptable level.
Lessons from the financial crisis
Crises are teachers. There are lessons to be learnt from the current one as well, says Suman Bery.
Sub-prime bomb: Where were the auditors?
Either the auditors' advice was disregarded or the auditors failed to find out the root cause of the trouble. The damage is so widespread, that one point which comes out clearly is that there is a need to look at the auditing processes adopted and advocated in this murky scenario.
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| October 14, 2008 | | Cursed with a goldmine?
India is yet to devise a government mechanism to compensate those who live atop mineral-rich areas in Orissa, Chattisgarh and Jharkhand, says .
Finance meltdown: Asleep at the wheel
Barclays and Nomura are spending $ 2.5 billion and $ 1 billion respectively to retain erstwhile Lehman employees in businesses they have taken over. Even more complex derivatives will have to be invented to recoup the expenditure, says .
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| October 10, 2008 | | Global finance crisis: A five point solution
There is a way out of our shared predicament. The trick is to get policymakers around the world to pull in the same direction, says .
Will shareholders speak up, please?
Even big public sector investors such as LIC that have very large stakes in companies haven't been known to voice their concerns. If institutions came together to air their grievances in public; that would put more pressure on managements to make more disclosures and do things the right way, says Shobhana Subramaniam.
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| October 06, 2008 | | How China could wreck the US economy
The US till date was depending on the Chinese for imports and to finance them as well for such imports. Now they will have to be considerably dependent on the Chinese to protect their currency as well as to ensure liquidity in their money markets.
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| October 04, 2008 | | 2008: A year of black swans
This has been the year of the Black Swans -- unlikely events, or incidents that are at the extremes of probabilities.
Economic crisis? India's tide has turned
We forget that, three months ago, the over-riding economic problem in India was inflation. So the good news is that the tide has turned.
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| September 29, 2008 | | Hobson's choice for the United States
The entire global financial system is going through a process of 'de-leveraging'.
Semi-conductor projects galore
The Indian semi-conductor industry lobbied hard and eventually obtained an elaborate package of incentives from the government to enable India to secure a foothold in the global semi-conductor play.
Of banking reforms and growth
Clearly, Indian banks', and Indian importers' and exporters' recourse to short-term credit is getting squeezed. It seems that many of such credits are not being rolled over. (There was a report last Monday that Indian banks are using buy-sell swaps to fund their overseas branches.)
2G spectrum: What's $10-15 bn between friends?
So far, most of those horrified by the dramatic evidence that surfaced last week of Telecom Minister A Raja's largesse on 2G spectrum costing the nation $10bn (that on 3G will probably cost another $5bn) have comforted themselves with one thought: maybe the Telecom Dispute Settlement and Appellate Tribunal, which is hearing the case, will conclude the policy changes were illegal and smacked of favouritism.
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| September 27, 2008 | | Financial debacles: More to come?
Informed opinion in India has it, for instance, that those at the centre of the financial world knew a long time back that this was going to develop into a massive crisis, and deliberately underplayed the problem at every stage in the hope of keeping a lid on the issue.
Puja? It's now Durga Inc.
But the more significant development is that just as politicians took over pujas some years ago, NRIs, hi-tech and market managers are now moving in. I have nothing against them except that it would be sad if professional commerce overwhelms the spirit of collective youthful effort that traditionally sustained public pujas.
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| September 24, 2008 | | Global financial crisis: What's the right strategy?
The reality is that this is an unprecedented time, and the environment far murkier than usual. While a trading rally is clear, it is to my mind premature to make any statement beyond that. While it is probably dangerous to have very high cash levels, I find it difficult to be fully invested, either, says .
Global finance: Of crooks and buffoons
If the distinction between the regulator and the regulated gets blurred, such financial disasters are bound to happen.
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| September 23, 2008 | | Three weeks that changed US economy
The world of American finance has changed for good, and will not be the same again
How RIL gas find helps India's energy needs
Reliance's entry into the club of integrated energy majors, courtesy the start of oil production in the Krishna-Godavari basin, marks a strategic inflection point for India, as it comes some three decades after the last major find at Bombay High went into production.
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| September 20, 2008 | | US and a failed financial model
It isn't funny any more to say that the Indian financial regulatory system shines because of its innate caution.
How fragile is the US financial system?
Given rising default rates, the Fannie and Freddie bailout may not be enough - along with AIG and Lehman, it shows how fragile the financial system is.
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| September 19, 2008 | | Future bleak for Indian IT? Well, no
The domain competencies of Indian IT firms could see the employment of many professionals in a redesign of the financial systems in 2009.
Currency futures -- a step in the right direction
For the first time, an Indian entity can bet on the external value of the rupee, whether or not it has an underlying foreign exchange exposure. This, in fact, is capital account convertibility, and the RBI is to be congratulated on taking this step, says .
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| September 17, 2008 | | Fixing American finance
It is worth pondering Robert Shiller's perspective: imaginative, radical but not implausible.
Corporates shouldn't turn speculators
The rupee has given the economy a roller coaster ride for nearly two years now, relegating the stability of 2006 to a distant dream.
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| September 12, 2008 | | A practical end to the Air Deccan fairy tale
With oil reaching record highs and competition intensifying, Captain Gopinath's chances of keeping his carrier afloat would have been more than slim. Employee's jobs and salaries would have been at stake if he had not sold to Vijay Mallya, says .
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| September 11, 2008 | | From offshoring to onshoring
An article in the latest The McKinsey Quarterly argues that thanks to rising wages in countries like China and Malaysia (favoured offshoring locations for manufacturing) and high costs of oil, the advantages of offshoring are rapidly eroding.
India's democracy: A game of might
The Olympics proved China is a dictatorship that achieves, Singur shows why India remains a curio to the world, says .
Singur: Whose land is it anyway?
Even if any land made free is offered to farmers, that is unlikely to be enough for all the claimants
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| September 10, 2008 | | Why Indian Railways should pay more for diesel
Not just the Indian Railways, even the state transport companies too should be subjected to the same norm of paying a market-linked price for the diesel they use. If the state transport units take an annual hit of Rs 5,000 crore (Rs 50 billion) because of the higher diesel price, let the additional financial burden be borne by the different state governments which run those services. Why let the state-controlled oil marketing companies bear the burden all on their own?
The Toyota, Merc and Lexus of Bengali sweets
As I have got to know a wider world, I have often wondered how something as material as sweets can have such a strong, almost emotional, link with those who have grown up with it.
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| September 09, 2008 | | Can a finance secy be a good RBI governor?
The finance ministry's tenancy rights to the RBI governorship distort policy and regulation.
Nano or no Nano, Left will suffer
Now that the Left Front has cowed down to Mamata Banerjee's persistent pressure, it sends out a loud signal to their detractors -- unless you create nuisance in this state, you won't be heard.
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| September 05, 2008 | | Want to sell? Appeal to the heart
Be first in the category, own an attribute or the category, leverage heritage or how the product is made, specialise or use 'preference' to be a differentiator. Underlying each of these is a rational product story and they work. However, there could be a bigger opportunity in using emotions as a differentiator in India.
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| September 04, 2008 | | A question most CEOs dread
CEOs must answer this question from employees if change initiatives have to be successful.
Google aims for Microsoft's heart with new browser
It's the operating systems market that Google after. It's aiming to strike at the heart of Microsoft -- Windows. Google is aiming to eventually move the operating system online making an important move in cloud computing, says .
Er. . . just how poor is India?
The 'poor' also own TVs and two-wheelers and no discussion of poverty is complete unless it acknowledges this.
Political contradictions & industrialisation in Bengal
In a state in which the "demonstration effect" of industrialisation is thin on the ground it is not surprising that unemployed, educated youth and dispossessed farmers facing the insecurity of limited employment options flock to her support.
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| September 01, 2008 | | India's GST woes
It appears that things will crystallise on several aspects of the GST only by end 2008. This means that the country will only have a period of 15 months, from beginning 2009 to March 2010, to ensure that all the constitutional policy and legislative changes take place. It does seem increasingly a big challenge, says .
China: Painting the world red
One should of course not underestimate the US, its strength in research and innovation, its great universities, its ability to attract talented immigrants, etc. But will that be enough to face a resurgent China, determined to take its legitimate place in the sun, asks .
How poor are we actually?
The latest NCAER annual household survey, to use other data, points out that around 33 per cent of the bottom 40 per cent of households had a television set and another 12 per cent a two-wheeler in 2005 -- how they can all be poor is anyone's guess, says .
Financial markets: Time for a reality check?
Global liquidity has gone down a little. What seems to have tipped the balance is a sudden realisation in the markets that the rising cost of cash would hurt global growth. That, in turn, would impinge on the demand for commodities and high-yielding currencies, says .
Why the dollar will always be important
The dollar is a global benchmark and it is this dollar link that completes the economic cycle as assets interact with each other, says .
Has the Foreign Trade Policy achieved its objectives?
The boom in world trade has ensured that export has grown by over 20 per cent. Has the FTP contributed to the stellar growth in exports? T N Rajagopalan thinks it did.
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