Food prices going up is a critical factor in a country with the highest population in the world. The BJP government has withstood this pressure by frequently restricting exports of food grains, onions and other food items. The foreign exchange has to be conserved by make in India, atma nirbhar projects and increasing revenue from emerging areas like defense equipment exports. Steps to start manufacture of semi conductors for domestic consumption and exports are essential for the march towards becoming the 4th and then 3rd largest economy of the world. In the current geopolitical situation, India may attract investors and setting up of manufacturing facilities by some leading companies that may benefit from the talented pool of available manpower resources. The cost of hiring also compares favorably with other international manufacturing hubs. The transition from a country exporting tea, jute, raw leather 50 years ago, to an exporter of software, defense equipment and engineering goods, is indeed plausible. Thank you Anil for sharing an excellent article on a topical issue.
Thank you for your response and for flagging the political and economic significance of food inflation--in fact, the defeat of Kamala Harris in the US election is being attributed to the rising cost of living in the country.
Indeed, India has taken steps to improve ease of doing business, created domestic opportunities for the Indian private sector in critical areas like defence and space. At the same time, the country has a long way to go. Some sectors are world class, but most of India is still struggling. Worse, most state governments are way behind the curve in implementing ease of living, doing business measures. This is beginning to pose a drag on Indian competitiveness and entrepreneurial instincts.
Hopefully, the message of change will start resonating in more state capitals, including Delhi.
Look forward to your continued participation and support.
Food prices going up is a critical factor in a country with the highest population in the world. The BJP government has withstood this pressure by frequently restricting exports of food grains, onions and other food items. The foreign exchange has to be conserved by make in India, atma nirbhar projects and increasing revenue from emerging areas like defense equipment exports. Steps to start manufacture of semi conductors for domestic consumption and exports are essential for the march towards becoming the 4th and then 3rd largest economy of the world. In the current geopolitical situation, India may attract investors and setting up of manufacturing facilities by some leading companies that may benefit from the talented pool of available manpower resources. The cost of hiring also compares favorably with other international manufacturing hubs. The transition from a country exporting tea, jute, raw leather 50 years ago, to an exporter of software, defense equipment and engineering goods, is indeed plausible. Thank you Anil for sharing an excellent article on a topical issue.
Dear Gautam,
Thank you for your response and for flagging the political and economic significance of food inflation--in fact, the defeat of Kamala Harris in the US election is being attributed to the rising cost of living in the country.
Indeed, India has taken steps to improve ease of doing business, created domestic opportunities for the Indian private sector in critical areas like defence and space. At the same time, the country has a long way to go. Some sectors are world class, but most of India is still struggling. Worse, most state governments are way behind the curve in implementing ease of living, doing business measures. This is beginning to pose a drag on Indian competitiveness and entrepreneurial instincts.
Hopefully, the message of change will start resonating in more state capitals, including Delhi.
Look forward to your continued participation and support.
Best
Anil