Exports – India’s Achilles heel

Before the world became flat in 1990 — to borrow the title of Thomas Friedman’s 2004 book on globalisation — developing countries were locked into twin traps of low access to foreign currency and low levels of domestic savings. India’s anxiety about foreign exchange, to fund imports, goes back to those desperate times when export […]

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Indian Rabudom and Baniagiri

Is India a land of Banias or Rajas, Babus and bonded labourers (the latter collectively termed “Rabudom”)? The anglo-west is clearly a land of banias (service with a smile, anything to improve the bottom line, everyone tries to work) as is China and East Asia.  South Asia (including India) and Africa are still caught in […]

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