Courtesy: Food Corporation of India
India's refusal to budge on food security has resulted in the World Trade Organization’s failure to reach the first multilateral trade agreement in the last two decades. Having taken a tough stand can India take the lead, among developing countries, in reframing the power equations of globalisation?
Courtesy: MEA/Government of India
Looking back at the 2008 financial crisis, when governments had to resort to bail-outs to keep economies afloat, the BRICS member countries have decided to set up a New Development Bank which will provide for a contingency fund. This initiative aims at building an alternate financial structure in terms of trade among the member states as well as creating a safety net
Courtesy: MEA/Government of India
The launch of the BRICS bank can now give the member countries confidence to experiment with other geoeconomic ambitions. Incubating a non-dollar financial architecture can be the next goal. There are existing models to build upon but India will need smart economic diplomacy to secure its interests
Courtesy: idevie.com
The New Development Bank was formalised at the just concluded meeting of the leaders of the BRICS nations in Fortaleza in Brazil this week. The location is to be Shanghai. The more appropriate and natural choice for locating the bank would have been Mumbai. There are several reasons why
Courtesy: Sikh24
Finance Minister Arun Jaitley’s first budget on July 10 is expected to provide an insight into India’s global economic diplomacy. It should indicate the direction of policies on Foreign Direct Investment and on energy security
Courtesy: Ken Hodge/Wikimedia Commons
The BJP government can begin to address regional disparity, which is a drag on economic growth, by redirecting to the east and north-east some of the infrastructure and investment planned for LNG imports. This policy push, along with concessions for customers, can re-industrialise the region
Courtesy: Gateway House
A brief visit to Stockholm for a conference provided an opportunity to the author to participate in discussions on India under Prime Minister Modi. It also opened his eyes to many India related things in the Swedish capital
Courtesy: indiagiftspoint.com
For too long, India's intellectual elite and foreign policy establishment have ignored economic statecraft, focusing instead on the immediacy of security and political diplomacy. Now with Narendra Modi, a focused push to gain lost ground seems likely - and Indian business can play a vital role.
Courtesy: wikimediacommons
Even small Indian IT companies have managed to succeed in the Latin American market. Understanding the local culture is one of the main keys to success as illustrated in the case of Mann India Technologies, which was one of the earliest Indian entrants in the Latin American IT market.
Courtesy: RBI
RBI’s second bi-monthly policy did not raise interest rates, as was expected. But, away from the noise on repo rates, the policy has two critical pivots: an emphasis on making liquidity available for credit expansion and, more importantly, managing inflationary expectations through upbeat language