The recent crisis at Infosys suggests that corporate governance in India’s IT sector has been slipping. Gateway House talks to T.V. Mohandas Pai, former CFO of the company, about what the Indian IT industry and the government can do to raise global competitiveness and remain recognised as centers of innovation
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Subsequent to the global financial crises of 2007, while several countries were still struggling with economic problems, Latvia managed to dramatically decrease its public debt, and its GDP too grew at an impressive pace. How was this success achieved and at what cost to the people of the country?
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At the 5th BRICS Summit that begins in South Africa today, the heads of state of Brazil, Russia, India, China and South Africa are expected to ratify the creation of the BRICS Bank. After discussion and study for over a year by the respective governments, the bank will be launched with seed money estimated at between $50 billion to $100 billion, and most likely an equal share of voting rights for the management of the bank. What remains
The establishment of a BRICS Development Bank will be among the prime topics of discussion at the BRICS Summit on March 26. Gateway House’s Akshay Mathur interviews former Indian Ambassador and Foreign Secretary, Shyam Saran, on the prospects and viability of alternate financial architectures.
The Chinese have learned from Russia’s past mistakes at reforming state-owned enterprises (SOE), and some well-connected politicians have reaped the economic benefits that followed. Will the new administration in Beijing reform China’s SOEs or maintain the large role of government in industry?
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All the major economic forces in the world have come together in Africa in a new version of the Great Game. The competition for the continent’s resources will ultimately harm Africa unless Africa uses this opportunity to its advantage and to address its own serious problems.
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As the revelations pile up after the LIBOR rigging incident, it seems Europe and Britain are more committed to enforcement action than America. Real conservatives believe fully in market capitalism, that prices must come from uncorrupted market signals. Could this start a sea-change for enforcement globally?
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Banks around the globe would be wise to take a second look at what now could be the most significant agreement in international finance since the Euro: the BRICS currency swap. Though certain geopolitical risks are involved, could this free India from unpredictable currency fluctuations?
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Few people know that Sweden was severely affected by the 2008 global economic crisis. However, the Swedish government adopted prudent fiscal and monetary policies to overcome the situation. The author discusses the factors that helped Sweden to acquit itself so creditably in the most challenging of circumstances.
As India’s growth slows, it becomes increasingly important to enact reforms so it can return to its intended growth rate of 9%. Gateway House’s Hari Seshasayee interviews Anoop Singh, Director of Asia and Pacific at the IMF, to discuss the impact of the Euro zone crisis on India and the way forward for Asia.
