December 06, 2013How to retain the best women employees
In order to retain their brightest female employees, organisations need to create a more flexible and family-friendly workforce
December 05, 2013Is the worst over for the Indian economy?
Over the last few months, the Indian economy has been on nothing short of a roller-coaster ride.
December 04, 2013Can India bounce back to a high growth phase?
The role of global factors in accelerating India's growth to unprecedented levels continues to be worryingly underappreciated.
Can 'Modinomics' work wonders for India?
Investors need to ask some basic questions before betting in the markets on the Gujarat model's national success.
December 03, 2013Tehelka tarnishes the image of India's media industry
The alleged sexual assault of a junior colleague by one of India's best-known activist-editors brings out not just Mr Tejpal's infirmities but those of an entire industry.
Why there is hope for the Indian economy
The safe conclusion to draw from the second-quarter gross domestic product (GDP) numbers that were published last Friday is that the cycle has bottomed out and things are unlikely to get any worse.
December 02, 2013The trouble with India's disinvestment story
What should have primarily served as an instrument for improving PSU management has over the years become a mere financial exercise to raise revenue to reduce the fiscal deficit.
How election results will impact markets
From here till the next government is installed, political equations will play an increasing role in driving perceptions about India.
How will the Indian economy be post elections?
The key similarity between 1991 and 2014 is the criticality of decisive action.
November 29, 2013Japan's superfast trains will be able to touch 500km/hour
Japan will start building the world's first long-distance magnetic levitation railway that can hit a top speed of over 500 km an hour.
Why India failed to become an economic giant
Investment in human capital is likely to fail to translate into effective growth if incentives for entrepreneurs are missing.
Why the Iran nuclear deal is an economic breather
Recently, Iran and western powers signed a deal in which it was agreed the West Asian nation would scale down its nuclear programme in exchange for a cut in economic sanctions.
November 28, 2013How to make India's public sector banks successful
Since public sector banks are unlikely to be privatised soon, the aim has to be to make as many of them perform as is possible.
November 27, 2013Are special perks for VIPs in India justified?
The race for VIP perks has pernicious consequences and is undermining the elite's authority.
Dealing with government, a big hurdle for India Inc
Reforms may have removed many controls on industry, but the need to deal with the government or its civil servants has not declined.
November 23, 2013Why businessmen WANT Narendra Modi to come to POWER
There is a wide chasm that separates business and the UPA government. This has driven business straight into the arms of Narendra Modi.
November 22, 2013COLUMN: Applying economic theory to airline regulation
In July and August full-service carriers cut fares to levels that were, absurdly, only a whisker more than the fares of low-cost carriers.
Why investors are unhappy with leadership at Apple, Microsoft
Stakeholders are getting impatient with CEOs who are steady and stable. They want the leaders to take fast decisions and deliver quickly.
November 21, 2013India will be devastated if it ignores environmental concerns
By 2050, India will be a devastated country if the deafness to environmental and resource concerns persists.
The unique story of India's luxury market
The real talent for purveyors of luxury goods and services will lie in training Indians to serve them.
How research will change after this year's Nobel Prize
The Prize highlights that that if researchers from different fields work together, the quality of results is better and more definite.
November 20, 2013The good, the bad and the ugly of India's rural transformation
Despite impressive progress, a Green Revolution-era policy framework - subsidies for fertiliser and free electricity for groundwater irrigation - has now become an escalating risk to sustainability.
November 19, 2013What triggers Sensex's split personality
A few shares foreigners love have lifted markets, leaving investors open to a reversal of hot money as well as political risk.
The Reserve Bank's mission impossible?
Taming inflation may prove difficult because the social consensus in favour of moderate inflation appears to have eroded
November 18, 2013COLUMN: How to predict the next economic crisis
Economists have long argued that they shouldn't be expected to predict crises, such as the one that almost sank the global economy five years ago.
Vegflation: Another killer for India's economy!
A double-digit food inflation has become a standard feature of our economic history now for the sixth year.
Why rupee fall is good for India
In March 2012, the rupee was about 51 to the US dollar - not much cheaper than it was a decade earlier.
'Non-IAS experts must feel welcome in govt organisations'
The sudden exit of Yogesh Agarwal as the chairman of the Pension Fund Regulatory and Development Authority, or PFRDA, has once again brought the relationship between financial sector regulators and the finance ministry into sharp focus.
Why the long-term bullish trend remains intact for markets
Although the current long-term bullish trend is intact, markets are awaiting clarity on the taper and the Assembly election results.
November 15, 2013How low oil prices can revolutionise Islamic countries
As the oil moneybags get lighter, it will be increasingly difficult for Saudi Arabia and other Gulf states to continue to support incendiary radicals. And over time, there will be greater integration of Muslim life and culture into the "mainstream".
November 14, 2013Economists vs politicians: Tough fight over economic policies
Macroeconomic policy aimed at short-term political gains does not augur well for a poorly performing economy.
November 13, 2013How smart cities can transform India's future
Cisco's CEO says India's urban planners urgently need to think innovatively to prepare for the unprecedented migration from villages that is expected over the next decade.
Twin DEVILS that have eroded the Indian economy
Consumer durables shrank year on year, which could suggest to observers that spending confidence is yet to return to the economy.
November 12, 2013Private investment: Engine to drive India's economic growth
By enabling, not colluding, with the private sector, the government can drive growth and deliver social protection on a much larger scale.
November 11, 2013Why it may be a very volatile week for markets
Trading through this coming week could be influenced by reactions to events in Europe and the US.
How India's business leaders have let down the country
The private sector has been selfish and greedy, and does not realise that it's they who should be blamed for the failure of India's growth story rather than the system and politicians.
Fresh tremors for the rupee?
The RBI's strategy to feed dollars to oil marketing companies directly from its dwindling reserves is not sustainable
How Sardar Patel could have changed India's economic fortunes
Narendra Modi's recent observation that India's fate would have been different had Sardar Patel been the country's first prime minister, instead of Jawaharlal Nehru, has caused a stampede of public opinion.
November 08, 2013Advantages of RBI opening up to foreign banks' subsidiaries
In the absence of clear incentives for subsidiaries, foreign banks logically prefer the branch mode; but now, those who see India as a long-term growth opportunity have the basis for deciding between the two modes.
COLUMN: How to deal with post-retirement blues
The number of financially well-off people seeking emotional crutches after retirement is increasing rapidly.
COLUMN: How long will the equity bubbles last?
Most expect these bubbles to break in short order and cause serious financial pain to anyone who's foolhardy enough to remain invested in financial assets.
November 07, 2013COLUMN: All about the row over GM crops
It is past time for India to revisit the question of cultivating Bt brinjal hybrids that have been field-tested in the country.
COLUMN: Of Raghuram Rajan and a few natural-born biases
If Mr Rajan's citizenship is considered relevant for heading an organisation that issues sovereign currency, should the provenance of a participant in a critical function of a sovereign democracy not count as well?
November 06, 2013There is a SWISS connection to Indians' craze for gold
Swiss data secrecy suggests a sinister explanation for India's gold fetish.
November 05, 2013Philanthropy and Buffett Junior
While his father has often been quoted on tips for investing, Buffett junior's focus is on spreading the word about both self-improvement and ways in which to make a positive difference in the world - with a special focus on solving hunger.
27 days to start a business in India! It's UPA's failure
India has been ranked 134th among 189 countries in the World Bank's Doing Business 2014 report.
November 04, 2013Why powerful business houses want Sebi chairman to quit
The Supreme Court has dismissed many petitions in the past but rarely has the country's apex court accused the petitioners of being "stool pigeons" of powerful corporate lobbies.
November 01, 2013COLUMN: Is management responsible for Infosys' setback?
The US legal action is likely to further strengthen public opinion, at a time of high unemployment, against information technology outsourcing -- which is seen to take away jobs from locals.
Economy: No RECOVERY yet in sight
But weak rupee helps India Inc.
October 31, 2013COLUMN: Why do Indian cities need a complete redesign
We need a comprehensive redevelopment plan that seeks to redesign our overgrown cities in terms of connectivity, mobility and liveability.
COLUMN: Why the govt needs to focus on growth now
The consumer price index has been in double digits for much of the past year, and was 9.8 per cent in September.
Swiss tax pacts: Can India catch the biggest tax defaulters?
Switzerland finally signed an agreement to exchange information on potential money launderers and tax dodgers last week but neither this nor a modified tax avoidance treaty is likely to help India.
October 30, 2013How India can reduce poverty drastically
Policymakers need to work towards raising the median household income rather than per capita income.
It is a dead-end for India's services-led growth
Resumption of rapid GDP expansion requires accelerated growth of the production and export of manufactures.
October 29, 2013Who will be the next Steve Jobs?
In some ways, Elon Musk's vision is even bolder and more transformative than that of Steve Jobs, says B S Prakash
Will oil get cheaper in India? No way!
India's overwhelming dependence on imported energy will remain a significant weakness.
October 25, 2013When cronies plunder scarce resources
Crony capitalism will of course generate investment and ensure profit for private capital, but it won't give employment or income to the people. If you can make money by selling coal or speculating in land, why produce electricity, why invest in research and development, why even set up factories, asks Praful Bidwai
Indian economy: There's no room for complacency
Given the 18-day government shutdown in the US and the likelihood for continued wrangling between the Democrats and the Republicans, it now looks like tapering may be off the table till the first quarter of 2014.
COLUMN: Will CBI move against Birla dampen biz confidence?
Corporate Affairs Minister Sachin Pilot intoned, "Recent incidents will certainly dampen business confidence and investment sentiment, both domestic and foreign; and perhaps also negatively affect decision making by bureaucrats and policy makers."
October 24, 2013COLUMN: Why soft loans will be hard on the exchequer
The government is somehow convinced that selective low-rate lending will stimulate demand and accelerate economic growth that plunged to a four-year low of 4.4 per cent in the first three months of 2013-14.
October 23, 2013How India can become a technology leader
There is a big hole in India's electronics manufacturing capabilities, one that does not fit in well with the notion of a large economy with matching technology muscles, says Subir Roy.
October 22, 2013Should Aadhaar be made mandatory?
The concept of Aadhaar (the Hindi word for basis or foundation) has evolved since it was introduced in 2009.
October 18, 2013Why India must clear the sky for airlines flying abroad
India must do away a pointless policy that mandates that a domestic airline must have been in operation for five years and have 20 aircraft before flying.
COLUMN: What actually saved the rupee?
An upward climb of the rupee has been maintained since Dr Raghuram Rajan's appointment, helped by his policy announcements and actions. But was this the whole story?
October 16, 2013UPA vs NDA: Who helped Indian economy the most?
While UPA has been more pro-farmer, and delivered better GDP growth while the NDA was steadier on the fiscal and industrial side.
October 15, 2013COLUMN: Whom to blame for India's stagflation?
Raghuram Rajan is correct -- the RBI's monetary response to inflation in the past has been too weak.
October 14, 2013COLUMN: Changing the climate of India-US strategic ties
Under the radar, Manmohan Singh and Barack Obama made a great deal of progress in resolving outstanding bilateral issues around climate change.
COLUMN: How India can gain from the US Fed's taper programme
For one thing, US Fed Chairman Ben Bernanke was perhaps right in postponing the quantitative easing taper even though the markets had complained at that time that they were primed for some reduction in QE3 and the Fed had missed an opportunity to execute their plans without causing too much of a flutter.
October 11, 2013COLUMN: The irony of India story
Hopes for India's long-term growth have never been lower, but the likelihood of that growth has never been higher.
COLUMN: Indian promoter-CEO is answerable to nobody
There is no shortage of businessmen in India who have run their firms into the ground, putting into jeopardy money given to them by small shareholders.
October 10, 2013Indian economy: Why we shouldn't be complacent
The tide began to turn in early September with the new Reserve Bank of India governor's confident and well-considered initial policy statement on September 4.
COLUMN: Why is it hard for founders to step down?
The question holds significance in the light of investors' call for Bill Gates to step down as Microsoft chairman.
October 09, 2013Why Indians FEAR rapid economic growth
The fear is that we in India are really not ready for a society where the social order is disrupted, says Amberish K Diwanji
October 08, 2013Why inflation is so high in India
India's rampant inflation remains a hotly debated puzzle.
October 03, 2013Has the Rajan panel BETRAYED Bihar?
While the rest of India marches towards the promised destiny of 'progress', Bihar - the heart of India- is doomed to poverty and the injustices of a caste-based society.
October 01, 2013Column: Decoding Governor Rajan
Raghuram Rajan's signal of a neutral stance is at odds with concerns about inflation and markets' revised expectation of more increases in the repo rate
The real culprit behind the hike in onion prices
The most plausible suspect for the price surge, therefore, is the inability of the market to channel onions from growers to consumers without too many intermediaries adding to costs.
September 30, 2013Raghuram Rajan on the right track to save economy
Everything seems to be falling in place for the new RBI governor but there is a need to prepare for the imminent tapering by the Fed.
September 27, 2013COLUMN: Why diesel subsidy should be removed for all
In January this year, with a view to cutting the subsidy on diesel, the government had decreed that all bulk users, such as the railways, state transport corporations, armed forces and all commercial establishments, would be charged the market price for diesel.
September 26, 2013COLUMN: Honouring Solar Mamas
Bunker Roy, founder of the Barefoot College at Tilonia in Rajasthan, was awarded the Clinton Global Citizen Award at a ceremony in New York on September 25.
September 25, 2013Glaring errors in Modi's big claims will backfire
Narendra Modi should worry about fact-checking.
September 21, 2013How India can boost its foreign exchange reserves
Regrettably, another voluntary disclosure scheme may be needed to strengthen India's foreign exchange reserves.
September 20, 2013Rajan targets inflation, now will government go after growth?
Rajan was treated as the messiah who would rescue India from its current economic mess of growth stagnancy and high inflation.
September 19, 2013COLUMN: Of markets, politics and policy
The fragmentation of politics and the pressures of coalition management have contributed to a near-secular rise in budgetary social expenditures and spending on subsidies since 1991, leaving little fiscal space for government-led capital investment.
How India can build world class cities
Between 2010 and 2050 India is expected to add about 500 million to its 2011 urban population of 377 million.
September 17, 2013 It's the GDP, stupid
'India should exit Hubristan and stop patting itself on its back for 5 years of rapid growth, and all the Rolls Royces, BMWs and private jets owned by its billionaires, and instead focus on the urgently needed reforms to get GDP growth back in the 7 to 8 pc range and higher,' says Ram Kelkar
Why India cannot grow as fast as China
In the past two decades China grew at a breakneck speed keeping its debt low and the quality of its infrastructure high.
September 16, 2013The situation in India is grave but hardly hopeless
The immediate challenge to faster growth is to restore stability to the currency markets.
September 13, 2013The ugly spat between Vikram Bakshi and McDonald's
The war of words that has broken out between Vikram Bakshi and McDonald's Corporation is the latest in the long list of ugly spats between Indian businessmen and their overseas collaborators.
September 12, 2013Why thousands are losing jobs in India
India Inc's hiring outlook has become the weakest in the past eight years in the Asia-Pacific region, even as job losses have emerged as a critical concern.
September 10, 2013Food Bill: Lessons India should have learnt from Soviet Union
By throwing food at poverty that is result of faulty economics and lack of jobs, one is only trying to suicidal path.
Why holding on to shares can save tax liability
Don't sell the shares immediately after you get possession. It might translate into tax liability, if not held for one year or more.
September 06, 2013Stagflation: Biggest challenge for Raghuram Rajan
Rajan's call to diaspora can't stem rupee rout.
Rupee fall: India can revamp its manufacturing sector
Thanks to rupee depreciation, India has a chance to fundamentally rework its stifled manufacturing sector.
COLUMN: Is Infosys losing its corporate governance sheen?
There are solid reasons recent observations at the company raise question marks about its adhering to corporate governance in spirit.
Mr PM, the Bangladeshi taka is doing better than the rupee!
Based on the GDP numbers and the remarkable stability of the taka Bangladesh's Prime Minister, Sheikh Hasina, is a better manager than our 'economist prime minister',' says TVR Shenoy
September 05, 2013Why restrictions on home loans is a good move
India's real estate sector, many fear, is unstable.
H-1B visas: Why does the US blame Indian firms?
Indian and Indian-American IT businesses are being scapegoated for abuse of the visa programme - using it for cheap, immobile labour - that actually pervades the entire industry.
September 04, 2013Food Bill: Boon for politicians, bane for economy
Whatever may be their flaws and the adverse impact on industry or the Centre's finances, the food security and land acquisition Bills are likely to be seen by voters as people-friendly initiatives
COLUMN: All about the Food Security Bill myth
The Bill at best makes the existing public distribution system a legal right, an aspect that seems of little consequence to the lords of high finance, whose primary anxiety is the FSB-by-numbers.
How the government can stabilise the rupee
The shortage of capital flows into emerging markets is unlikely to go away in a hurry.
Why the market rally is likely to be short-term
Mass downgrades of GDP projections make it likely that there will be another wave of FII selling fairly soon
September 03, 2013How to cut oil import bill? Mr Moily has no clue
Veerappa Moily's suggestions on oil use do not inspire hope
September 02, 2013These 6 people are responsible for India's economic crisis
These six people have created a political climate more difficult for business, indeed more hostile to business, than at any time since the mid-1980s.
September 01, 2013The long-rumoured dollar rally in world markets is at hand
Don't catch falling knives or chase bear rallies no matter how enticing those eight pc green blips look. They may be mouse traps, warns Sonali Ranade
August 28, 2013COLUMN: The trouble with the richie itch
The basics and history of India's tax policy suggests that increase in the number of taxpayers has occurred and so has compliance with a reduction of tax slabs and moderate rates of tax.
COLUMN: How policy dilemmas led to the economic mess
As concern about the unfolding economic crisis has risen in India, many experts have assured us that 2013 is not 1991.
August 27, 2013COLUMN: Fall of the rupee only a symptom of India's mess
India imports more than it exports, so the rupee's decline will hurt more than it may help.
Reviving the economy won't be easy for Raghuram Rajan
The rupee's travails allow the RBI's incoming governor to renegotiate the objectives of monetary policy.
August 26, 2013Manmohan Singh's biggest failure in reviving the economy
When the prime minister thanked his predecessor during his Independence Day speech, it was significant because it was Dr Singh's final acknowledgement that political support for reform is essential.
Why India's 'dream team' has failed
The 1990s team worked wonders because the leaders took care to build a tier of competent secretaries and advisors under them.
COLUMN: Rupee approaching tipping point
India's fundamentals might be better served by allowing the rupee cycle to run its course.
August 25, 2013US equities stage routine pullback from 38 pc retracement level
The dollar's preliminary moves after the low 80.90 are supportive of a like dollar rally back to 85.50. We should see confirmation of that in the early part of next week, says Sonali Ranade
August 23, 2013Giving by force
Corporate Social Responsibility can become a serious tool for improving the lives of millions in any structural and long term way, writes Rajni Bakshi
COLUMN: How Tirupati Trust can help India counter economic crisis
While there are no definitive statistics available, the Tirupati Trust Foundation has well over 1,000 tonnes of gold.
August 21, 2013India's infrastructure development has come to a STANDSTILL
Infrastructure development has come to a standstill despite all the promises.
COLUMN: Are politicians even in touch with reality?
If politicians are not even aware of the deep economic trouble a country is in, the crisis can only escalate.
August 20, 2013How India can revive the rupee, economy
All major financial markets - equities, bonds and currency - are on a slippery slope, with no respite in sight.
Column: Making sense of the rupee
In the medium term what will truly matter for the rupee's fortunes are India's growth and inflation fundamentals.
August 19, 2013Why the supposed rupee-dollar parity of 1947 is a MYTH
Mr Modi should welcome the rupee's fall as overdue, not criticise it.
COLUMN: Story of two devaluations
But an unimpressed finance minister plays King Canute.
Please, let's not write the rupee off
It's in the same boat as other emerging markets with current account deficits, but the recent capital-raising measures may help
August 16, 2013How India has curbed child labour
An ILO study shows child labour has declined for girls from households that had taken up the work guarantee programme.
After kicking out the Tatas, Didi plans 'industrial revolution'
Industrialists say they were bowled over by the West Bengal chief minister's 'charm and simplicity'.
August 15, 2013Column: A cloudy Independence Day
Silver linings in the India's economic gloom.
August 14, 2013Curbing CAD? FM FAILS to take right steps
The government has chosen the wrong way to control the current account deficit.
Why even a brilliant RBI governor cannot help India much
There's no point in having a brilliant RBI governor if politicians do not listen to him.
August 13, 2013India's growth? Well, it comes last!
Trade deficit falls, inflation steady, but industry is still frozen.
August 12, 2013UPA has 'managed' to take the economy back to the 80s
The eight years and more since 2004-05 have seen a continuous non-oil trade deficit, the first such period since the 1980s.
August 11, 2013A few points for India's new RBI governor
It was the RBI which destroyed our $-job economy. It is for the RBI to resurrect it by instituting news ways of managing the INR, says Sonali Ranade
August 08, 2013Can Jeff Bezos invent a new future for newspapers?
By buying The Washington Post in his personal capacity, the Amazon founder and internet pioneer may just be looking to save an American institution.
August 07, 2013COLUMN: Has RBI actually MANAGED to stem the rupee fall?
It is logical to believe the measures that have been introduced are 'temporary'.
Insurance bill: The reasons behind BJP's puzzling about-turn
Reports suggest that the BJP may now be willing to support the Bill in the ongoing monsoon session of Parliament provided some of its conditions are met.
August 04, 2013The US dollar could surprise with a massive rally
Hoard cash. There will be plenty of time and opportunity at far lower levels, warns Sonali Ranade
in her weekly Market Notes
August 02, 2013COLUMN: Beyond the Bhagwati-Sen slugfest
Recent growth has wrought enormous environmental destruction and degradation in India, says Praful Bidwai
August 01, 2013The danger of defending the rupee revealed
To first take a position that the currency would be managed, and then to witness it fall, is a grave loss of credibility for any government, and for any central bank.
July 30, 2013India's darkest hour: Hopes recede of economic recovery
Companies, bankers and experts have all given up hope of an economic recovery
Will shale gas become a game-changer for India?
Seeing the potential of shale gas, Reliance Industries moved early to secure a foothold in the Marcellus shale reserves in the US.
July 29, 2013COLUMN: Murphy's law at work in India
Last year this time, India was grappling with an imminent sovereign downgrade, with an uncontrolled fiscal deficit, policy paralysis of the highest order with no economic reforms for eight long years and a weakening rupee.
Is India planning to take a loan from IMF?
A rapidly deteriorating balance of payments may warrant that but the political climate is too risky
July 28, 2013US equity markets are approaching an intermediate correction
The dollar is king in an intermediate correction, says Sonali Ranade
July 26, 2013The Sen-Bhagwati slugfest: Not the 1st in history
Is the unfolding Bhagwati-Sen debate likely to have the same impact on economic policy in India as Hayek versus Keynes had on the West?
July 24, 2013Can we trust India's poverty figure? Well...
The Planning Commission has issued poverty estimates based on the Suresh Tendulkar methodology, while admitting it was not taking this seriously.
Singur: A tale of ambition, politics and BLATANT LIES
Mamata Banerjee and Singur share a history that dates back to 2006.
July 23, 2013COLUMN: Vexing issues of gold import, current account deficit
The external current account deficit remains our biggest worry today.
Digital media turns into a money spinner in India
As both video and streaming services take off, online entertainment is finally showing signs of making money.
July 22, 2013Bihar and India's uncertain glory
There are reasons for India to hang its head in shame," says Amartya Sen in an interview this week.
How the govt bent rules to appoint Ramadorai as PSU chief
The senior Tata Group executive's appointment as NSDC chairman raises the vital question of conflict of interest
Black money: Tackling the controversial Mauritius route
Mauritius is back in the news, and as usual not for the right reasons.
July 21, 2013When the market offers you money for jam, take both and run!
Time to take profits and move to the sidelines in an euphoria, says Sonali Ranade
July 19, 2013India faces growing problem of more skilled workers than jobs
In 10 years, we will have two college-trained aspirants for every job.
July 18, 2013Fliers beware! AirAsia in India may not be good for you
The airline's entry may trigger charges for every extra service such as baggage and seat selection.
If Indian companies don't spend on R&D, they will die
At present, India spends 0.9 per cent of its GDP on research and development (R&D), which is well below what developed countries.
How G5 power can revive emerging economies
Brazil, China, India, Mexico and South Africa are still a logical grouping.
COLUMN: Govt's move on FDI welcome, but insufficient
Simple fact is that this will not be enough to get pools of long-term funds interested in India again.
July 17, 2013How a telecom miracle can happen in India
The mistrust between the authorities and service providers can end if the contentious issues are addressed as a package deal.
July 15, 2013Myths and reality of the Food Security Bill
All those who have been dismayed by the food security ordinance should thank Manmohan Singh and his colleagues for a neat optical trick, says T N Ninan.
July 14, 2013As the markets hit new highs, look to take profits
Keep exit plans handy, D-day could be the second week of August, writes Sonali Ranade
in Market Notes.
July 12, 2013COLUMN: Why have some students rejected IIT?
The inference that the IIT brand name has been devalued is unfair; this could as well reflect a wider market for student choices
July 11, 2013COLUMN: Is the Indian economy shrinking?
The toxic brew of fiscal populism, crony capitalism and bad economic management has ensured the collapse of economic growth, industrial stagnation, stubbornly high consumer inflation, declining savings and investment, shrinking employment opportunities, and a dangerously vulnerable external financing situation.
COLUMN: Why measures to arrest rupee fall are not enough
Recent measures by the Reserve Bank of India and the Securities and Exchange Board of India are being seen by observers as an attempt to reverse the inexorable decline of the rupee.
July 10, 2013COLUMN: UPA and the economic consequences of Amartya Sen
One may fault this government for incompetence, corruption, and delayed action but it cannot be faulted for lacking a vision.
COLUMN: Justice and the Indian-American way
Is focusing on Rajat Gupta and Raj Rajaratnam the best way to chronicle the South Asian-American Diaspora's rise?
Is the Food Security Bill a game-changer?
Food insecurity and hunger are rooted in bad policies, faulty design, poor governance and a lack of political will.
July 09, 2013Tough times for emerging markets
India is hugely vulnerable to a sudden stop in emerging market liquidity.
July 08, 2013Why India lags behind in innovation
Stricter intellectual norms can help India grow faster.
Major problems with the Food security Bill
There continues to be several major problems with the food security scheme that deserve to be more thoroughly discussed at the highest level of law making than they have been so far.
July 07, 2013US equities resume rise amid surging $, crashing commodities
A resurgent US dollar is the key feature of the current scenario and its value continues to drive other markets, from euro, yen to the INR. Most currencies continue to seek lower valuations against the greenback. This trend is likely to continue until the dollar peaks out by yearend at around 89 as opposed to 84.5 right now, says Sonali Ranade
July 06, 2013Why India should take care of the telecom sector
DoT, has decided that it will not cancel the GSM licences of dual-technology companies.
July 05, 2013Uttarakhand disaster: Should govt ban dam construction?
These activities need proper environmental assessment, disaster potential assessment, and climate change assessment before giving the green light.
July 04, 2013How the India-Europe bilateral trade pact will help
Time is running out for a possible India-Europe bilateral trade investment agreement that would be beneficial for both parties.
New banks: Why RBI must be cautious
New banks will mean the RBI must improve oversight.
India's aspiring banking moguls fail to impress
The scarcity value of the licences has attracted a motley crew of hopefuls, ranging from India's humble postal department to billionaires.
July 03, 2013Zombie wheat case: GM food safety debate far from settled
Efforts by Indian activists to challenge the Biotechnology Regulatory Authority Bill, now pending in Parliament, may get a boost from a controversy that has broken out in the US
How India can improve its highway network
If India had a road regulator in the late nineties, the capacity-building model based on public-private partnerships would not have been in tatters.
How FM, RBI handled the economic crisis
The response by the finance ministry and the RBI to the churning in financial markets is mature.
COLUMN: Don't bet on the rupee's story to end soon
Rupee's misunderstood fall is far from over despite some near-term respite.
July 02, 2013COLUMN: Why malnutrition, not hunger, is the problem in India
UN report shows holes in govt's food security proposal.
What keeps China from playing fair?
This corporate pragmatism makes sense individually, but may undermine efforts to make China one day 'do the right thing'.
July 01, 2013COLUMN: Govt courts controversy by increasing gas prices
India's reforms are business-friendly rather than market-friendly, says T N Ninan.
June 30, 2013Equity markets resilient but precious metals collapse
If the dollar continues to rally as expected, commodities will continue to tank after a short counter-trend rally.The same holds true for precious metals, says Sonali Ranade
June 28, 2013India sees deficit falling, debt rising
There is vulnerability on both current and capital accounts.
COLUMN: Difference between super-rich and rest of the world
A recent incident has underscored one more way in which the lives of the super-rich are diverging from the lives of everyone else.
June 26, 2013COLUMN: Asia's emerging markets should be called 'submerging'
Everything, from stocks to bonds and currencies, has been hammered by indiscriminate selling.
June 25, 2013Mobile remittances: A potential game changer in India?
While Indians are increasingly using mobile platforms and technology for various financial transactions and purchases like bill payments, ticket bookings, entertainment, travel and banking transactions, cross border mobile remittance is yet to see the light of the day.
COLUMN: Why the rupee needs to fall some more
The calculations on the inflation-adjusted value of the rupee are deceptive
COLUMN: Microsoft needs narrower focus and more realism
Microsoft has done well in selling software to enterprises, but it has never really figured out consumers or hardware.
June 24, 2013Column: Why India must support start-ups
We need to make start-ups, instead of small businesses, part of the priority sector, says Shubhashis Gangopadhyay
The upturn in the interest rate cycle cracks SPX and DAX
The crack in the equity markets is serious and portends a deeper correction ahead. The markets will almost certainly attempt to complete the interrupted up move next week, says Sonali Ranade
June 21, 2013COLUMN: Rise of the winner-take-all economy
Number of people in the world with more than $1 million to invest soared to a record of 12 million in 2012, a 9.2 per cent increase over 2011.
Succession plan: Why India Inc STRUGGLES to find a leader
Too many corporate leaders cherish the crown of indispensability.
The UNHOLY nexus between business and politics
The unholy nexus between business and politics has taken a whole new form, says Bhupesh Bhandari
How rupee fall adds to India's external sector risk
As the rupee falls to new lows, the author reviews India's external sector risk indicators.
June 20, 2013European banks: The elephants in the room
With non-performing loans rising, European banks may be forced to reduce their India exposure, putting more pressure on the rupee.
June 19, 2013COLUMN: For India, high growth is now a mirage
Policy focus should shift to targeting modestly good growth and using its fruits to improve lives.
Blacklisting companies? What the govt must do
Governments must give companies a hearing before blacklisting them.
June 18, 2013COLUMN: Economic worries and the global elite
Making capitalism work for everyone, and not just the plutocrats, is our most pressing political and economic problem.
Water: By the people, of the people, for the people
Six villages in Maharashtra that are within the drought affected area have remained water secure even in an extremely bad year.
June 16, 2013World equity markets may attempt to stake out a new high
The fall in equity values following the spike in interest rates was sharp but very shallow; stopping just at the 50 DMA for most markets even after the first 5-wave leg down was complete. That shows markets could have another leg up that could make new highs, says Sonali Ranade
June 13, 2013COLUMN: Why is the rupee under pressure?
The rupee has been falling for five straight weeks, taking its losses this quarter to 6.6 per cent, making it the worst performing currencies in Asia during this period.
June 12, 2013COLUMN: Halfway to an emerging bear market
One culprit behind the poor recent performance of emerging markets is growing bond market volatility and the knock-on effect that that may be having on so-called carry trades, under which investors borrow money cheaply in one currency and then invest it for what they hope will be higher returns elsewhere.
June 11, 2013Address the current account deficit with concrete steps
Given recent tendencies, it was only a matter of time before the rupee fell below its previous low.
June 10, 2013Downslide: Rupee to FALL further
All the indicators point to a further steady weakening of the Rupee.
Any rally in RUPEE will be short-lived
Emerging markets, including India have been large beneficiaries of global monetary easing.
How India's urban poor also HELPS the economy grow
Most informal enterprises in slums employ local residents, generating benefits for the local economy.
June 09, 2013Equities all set to resume bid for new highs
The structure of the rallies that unfold will determine if they make new highs or not, and there is scope for new highs, says Sonali Ranade
June 07, 2013Real Estate Bill: How it makes buyers the KING
The provisions in the bill will curb malpractices by developers and it even proposes to penalise them if norms are violated.
ANALYSIS: Founders at helm is Infosys' BIGGEST problem
The stranglehold of the founders over the Infosys management has strengthened after the recent changes.
Narayana Murthy: A big BRAND in the IT sector
Narayana Murthy is akin to being the first man on the moon for the IT services industry.
June 06, 2013Apple patent case EXPOSES trade arbiter's flaws
A US ban on imports of older iPhones and iPads is example of the International Trade Commission being too quick to block products on dubious grounds.
Why austerity can be BAD for economy
In the current circumstances, aggressive efforts to rapidly reduce budget deficits may backfire and affect industrail output and jobs.
Column: The rupee's FALL still makes waves
An immediate aftermath of the recent fall in rupee is rise in fuel prices, the decision made politically easy by simply blaming it on the exchange rate.
June 05, 2013Mohandas Pai: How Murthy can TURN AROUND Infosys
A centralised, founder-led model that relies on organic growth is no longer workable.
June 04, 2013COLUMN: Why there's a twist in the GM tale
Anti-GM voices have inadvertently spurred farm scientists to support the use of gene manipulation for producing stress-resistant crops.
New RBI norms: They are tough but necessary
After 2015, all re-structured assets will be treated on a par with non-performing assets, requiring the same level of provisioning.
June 03, 2013Column: RBI should explain 'liquidity'
There seem to be several concepts of liquidity floating around. And a distinction is sought to be made between money supply and liquidity.
Murthy's return shows DEPTH of malaise at Infosys
The company should reward the confidence of the shareholders by returning some cash to them.
COLUMN: Protecting customers from 'banksters'
The RBI must apply its mind to the heart of the issue: are bankers competent to advise customers on anything other than their own banking product?
June 02, 2013Next market rally could be last before major correction
If the corrections underway across most markets hold first support, the probability of another leg to the rally until mid-August is fairly certain, says Sonali Ranade
June 01, 2013COLUMN: What's behind the spooked stock market?
The outlook appears to be improving as policy shifts away from austerity and toward growth.
May 31, 2013Warren Buffett needs luck for Las Vegas gamble to pay off
The Billionaire investor is under pressure to deploy the $44 bn cash on Berkshire's balance sheet.
May 30, 2013LESSONS from China's public transport system
A network of interchangeable transport systems with seamless access, like in China's Guangzhou city, can go a long way in easing urban commuters' woes.
COLUMN: Open fight over sustainability
While the violence of guns gets more media attention the war between votaries of sustainable development and those who favour rapid industrial growth rages on.
Why RBI reducing policy rates will not REVIVE economy
It's not the high interest rates that's affecting the economy but the policy bottlenecks.
The DANGEROUS aristocrats of finance
Despite the financial crisis of 2008, the finance industry is still arrogant, isolated and ridiculously lucrative.
May 29, 2013Should you trust Delhi govt's claims on the city's growth?
Once you analyse the data, you will realise the state government wants to take credit for achievements that do not belong to it.
May 28, 2013Why safety concerns over Bajaj's quadricycle are overblown
Due to the low power engine, the chances of serious accidents are less compared to other four-wheelers.
How the West's central banks' turbulence will AFFECT India
Winding down quantitative easing will be messy for the West and a big problem for India.
May 27, 2013COLUMN: Global inflation slide stirs the bogeyman
Policymakers now have to start worrying about deflation.
May 26, 2013World commodity markets continue to slide, equities pause
There is no ignoring the fact that world equity markets at this point are in unsustainable parabolic trajectories. The question is when, not if, a deep and sharp correction arrives. Investors need to be prepared for a quick exit if they are riding the rallies at this late stage, says Sonali Ranade
May 21, 2013Why global companies are betting BIG on India
Global businesses still believe that India consumption story is intact despite the slowdown of the past couple of years.
May 20, 2013COLUMN: How India should reform its trade?
Focus should be on integrating India into regional trade blocs and helping professional services transcend borders.
May 19, 2013Expect equity markets and dollar to consolidate
Clearly the DXY is overbought and needs to work off overbought conditions. That will trigger consolidation in US equity markets that are just as overbought, says Sonali Ranade
May 18, 2013Call the doctor, toll free
A Piramal social venture enables people all over Rajasthan to call 104 toll free to seek medical advice.
May 17, 2013New Mercedes S Class is MAKE or BREAK for Daimler
If the car flops, Daimler's goal to regain leadership in the premium segment by 2020 will be a pipe dream.
Markets: Preparation for volatility a must
Low volatility, in general, means low risk, which highlights another anomaly -- when any asset gets into uncharted territory, risk, almost by definition, should be high.
Corporate group-run banks: Are they useful?
On February 22, 2013, the Reserve Bank of India issued guidelines on 'Licensing of New Banks in the Private Sector'.
May 16, 2013FDI in retail: Why govt's policy is completely FLAWED
The conditions imposed on prospective investors in the retail sector betray a lack of understanding of the dynamics of the business.
May 15, 2013How CORRUPTION has engulfed the Railways
Lucrative contracts negotiated through influential middlemen, gratification for officials and their political patrons has become a norm in Indian Railways.
May 14, 2013How the US immigration Bill will hit Indian cos
The immigration Bill from a bipartisan group of US Senators will hurt US companies as much as Indian IT service providers.
May 13, 2013India needs to focus on e-vehicles for public transport
The future of sustainable transportation in India lies in developing electric vehicles across transit automobile segments.
Did the CAG overstep the mark?
The Comptroller and Auditor General reports saw senior politicians, powerful ministers and top bureaucrats end up in jail. Thanks to those reports, public scams such as 2G, Coalgate and the Commonwealth Games became part of the popular discourse.
May 12, 2013US markets make new highs while Nifty plods on
Nifty could consolidate below 6100 for a week or so. Those who missed the bus at 5400 could consider buying their blue chips in the consolidation that ensues, says Sonali Ranade
May 09, 2013COLUMN: Five days below the poverty line
A look at the lessons learnt by the columnist in his experiment to whittle down the weekly food bill to sub-poverty levels.
May 08, 2013Why India should WORRY about US' trade pacts in Asia
US is fast forging partnership with Asian countries. To grow its international trade, India needs to engage with the US urgently.
Why CAG appointment procedure needs to be CHANGED
Currently, the appointment is at he discretion of the Prime Minister. It needs to be more transparent and non-partisan.
When AGING provides a business OPPORTUNITY
The aging of the population is creating market demand for new products and services at an unprecedented pace.
May 06, 2013How to rewrite India's GROWTH story
The RBI issued a fairly gloomy forecast in its monetary policy statement last Friday.
Why does India need balance sheet reforms?
In the absence of market opportunities, the management will need to persuade shareholders that legitimate methods of valuation were used and the transaction price was justifiable.
May 05, 2013How India can RAISE $1 trillion for infra projects
The government needs to create a sustainable bond market and cut the fiscal deficit.
S&P 500 makes a new high, Nifty begins a new super cycle
On April 10, the Nifty could have begun a new super cycle which could run to 2025, says Sonali Ranade
May 04, 2013How to SELL India to the US
We need to create more effective programmes to show that life in modern India is not that different from life anywhere else.
May 03, 2013Why it's DIFFICULT for India to manufacture chips
Infrastructure require for making chips is not available in the country.
May 02, 2013Revealed! How Unilever PROFITS from HUL open offer
It borrowed cheaply in the West and now investing in high-earnings assets in India.
April 30, 2013Why India DESERVES a rating upgrade
East European countries have better rating than India though their economies are not as stable as the latter.
April 28, 2013Expect the equity markets to retest recent supports
The rally from supports averted an immediate meltdown but the correction is far from over, says Sonali Ranade
April 27, 2013Brown rice and Bluetooth
Brown and organic rice were just words to many who lived in cities
April 25, 2013Vedanta and international standards on mining
The most significant development over the last 10 years is that such organisations have accepted the need to operate on the basis of the principle of FPIC, namely Free, Prior and Informed Consent, by the local people whom a mining project affects.
April 24, 2013COLUMN: Know your city to set it right
India's cities are in poor shape and it is axiomatic that unless you have proper systems of governance in place working through the right kind of institutions, there is no hope for their uplift.
April 23, 2013COLUMN: All about Bengal's Saradha scourge
The collapse of a large deposit taker, the Saradha group, has brought protesting collection agents right to the doorstep of West Bengal Chief Minister Mamata Banerjee, whose government has given a free hand to such firms.
April 21, 2013Column: Will tax havens FALL APART?
612 Indians are among those who had parked their money in tax havens around the world.
Clawback in commodities last week was a dead cat bounce
Most commodities are on the verge of tipping over into deep long-term bear markets not seen for decades, says Sonali Ranade
April 19, 2013Why govt export schemes are INEFFECTIVE
India's exports need free trade and reform. The government, however, is extending failed schemes.
April 18, 2013COLUMN: Legitimising myths about gold imports
The massive buyers of gold in the past two years have not been the distressed farmers or the manual scavengers, writes Ajit Balakrishnan
April 17, 2013COLUMN: Indians unwilling to set up productive cos
Devesh Kapur asks why FDI is not attracted to India - and why Indians themselves are unwilling to set up productive enterprises.
April 16, 2013Should you be brave and buy gold, or silver?
We are in a general commodity correction wherein we must expect all commodities to bottom more or less simultaneously since money is fungible and you have no means of knowing which bull is trapped where, says Sonali Ranade
COLUMN: Struggle for life saving drugs
People die from diseases like AIDS, TB, etc because life saving essential medicines are either too expensive, or not available because they are not seen as financially viable.
April 15, 2013Gold crash sets up market for correction in commodities
The best part of the collapse in the price of gold [bullish for India on its own merits] was in what it says for commodities in general but for crude in particula, says Sonali Ranade
An economic DISASTER is brewing in India
Rising CAD, low growth & inflation may spark off an economic crisis in India.
COLUMN: How to prevent future slums
Many people's groups have taken up the cause of Mumbai's slum dwellers, especially since the city municipal authorities set up the Slum Rehabilitation Authority.
April 12, 2013India-EU FTA: A parting kick from UPA?
Barring a few exceptions India has a chronic trade deficit with most of its existing FTA partners as it is with most of its proposed FTA partners.
Should pharma MNCs be peeved?
In spite of all their complaints, pharma MNCs have been gaining market share in India. And this growth has come largely with generics.
April 10, 2013RBI's exchange rate policy should favour exports
The daily movement in exchange rates should favour exporters, and not importers, in a visible transparent manner. The RBI owes this to exporters, says Sonali Ranade
April 08, 2013Column: What was the Novartis case really about?
The drug Glivec was a genuinely new and important discovery deserving of patent protection.
US markets in short-term correction but no reversal sign
Signs abound of money flowing out of commodities and equities into US treasuries, indicating we are nearing a top even in the US markets, says Sonali Ranade
COLUMN: India's love affair with gold
India does not regard gold merely as an investment, it is also the preferred form of hoarding tax-evaded wealth.
April 06, 2013India Inc is equally to BLAME for the current MESS!
Business has paid a pittance for farmers' land, indulged in widespread illegal mining, and cheated on 'green' commitments.
April 04, 2013Why foreign investors are LOSING faith in Vietnam
Foreign investors are losing faith in Vietnam, which was sought-after destination just three-four years back. Due to slow reforms and rising corruption the growth in foreign investments has turned negative.
April 03, 2013Why the food security bill will NOT help the POOR
'Food security' will, unfortunately, become a giant boondoggle.
April 02, 2013COLUMN: Can we have waterless agriculture too Mr PM?
We need a master plan to increase our water storage capacity, improve irrigation facilities and create water networks across the country that links the draught prone with those experiencing floods.
Will Aakash SUCCEED even as it FAILS?
Aakash is now two years beyond its initial delivery date.
April 01, 2013NASDAQ 100, SPX make all-time (closing) highs, DAX sags
Unless the markets confirm a downtrend, don't short the markets. Investors should wait till a direction to US markets becomes clear, says Sonali Ranade
How India can ensure fuel security
The one fact of life that will be unchanged into the foreseeable future is that India will remain hugely import-dependent for energy, while rival countries are booking sources of supply, or blocking other sources through trade embargoes.
The many PROBLEMS with a BRICS bank
The BRICS bank is simply too expensive a proposition for a group of developing countries that includes many who are already overspending domestically.
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