SENSEX is like IPL – Business for a few, entertainment for many, and pain for most. – There is nothing Normal – where is the question of New Normal?
If any stock market index like SENSEX/NIFTY, is a tool to reflect performance of dominant/bigger companies from the major sectors of the economy, representing chunk of GDP of the country, then ideally it should reflect true health of the country‘s economy. But then there is a catch – because different players (Animals) in the stock market while making buying and selling decisions don‘t go by historical performance alone but also try and reflect expected performance of these companies in short-medium and long term. That is where it introduces speculative elements in the forecasting models which leads to divergent behavior. When experts forecast future, certain elements are foreseeable and certain elements are merely expectations which could be optimistic, neutral or pessimistic. Read More
India’s three-layered pragmatic statecraft at WHO amidst US-China rivalry
On 22 May, Indian Health Minister Harsh Vardhan assumed the chair position of the World Health Organisation‘s (WHO) Executive Body for the next three years. Earlier, in the run- up to the 73rd World Health Assembly (WHA), the WHO ̳s governing body, Indian statecraft faced three distinct but interconnected conundrums – Taiwan‘s observer status at WHA, an independent investigation into the source of COVID-19 outbreak, and WHO reforms. The three conundrums will incessantly test Indian statecraft and challenge New Delhi‘s multilateral leadership aspirations during India‘s WHO leadership term over the next three years. Read More
Conscious Cooperation for COVID Investigation
Australia-led diplomatic campaign gained the support of 122-member nations, including India, to seek an ―impartial, independent and comprehensive evaluation‖ into the origins of the coronavirus and WHO‘s response. While holding the demands over Taiwan‘s membership at bay, New Delhi joining forces with Canberra over the investigation into COVID-19 source is well- coordinated conscious cooperation against Beijing‘s recriminations and geo-economic coercions. Despite strengthening and institutionalising Indo-US cooperation through Indo-Pacific Core Group consultations during COVID-19 outbreak, India rebuffed US’ tougher language against China and the WHO. It reiterates New Delhi‘s strategic autonomy, which should clear China‘s suspicions over India‘s support for the investigation. India aims to strengthen WHO capabilities to bolster preparedness and prevent future pandemics by identifying the origins of the outbreak and the nature of spread. Read More
National Economic Security An Indian Perspective
National security is essentially understood in terms of the state of physical (i.e. defence related) security of the nation vis-à-vis the neighbouring countries with whom we share the borders; particularly the ones with whom we have inimical relationship largely due to territorial disputes.
However, in the modern global times, the national security also has an economic perspective, which is as important as the concept of physical security; particularly in view of global trade environment wherein a nation is also economically dependent on its trade partners. Read More
Post – Coronavirus “new normal” – Restructuring the Global Economic Order
It is increasingly clear that our world will be re-defined by Covid-19 pandemic effects on our health-risks, our society and its cohesive-ness and the dramatic restructuring of the economic rules by which businesses have operated traditionally. The burning question; across the globe, regardless of economic prosperity or poverty is – what will be required of nations and their people to overcome this crisis that has rendered traditional assumptions irrelevant?
In the western world, management and consulting companies like McKinsey are calling for a 5-stage approach of: Resolve, Resilience, Return, Re-imagination and Reform here; various countries are using this methodology or its variation to re-ignite their economy and social confidence on a priority. The issues faced by various countries are different and based on their demography, financial systems, and social rights of individuals. Read More
Education, Employability, Employment and Entrepreneurship in relation to Five Pillars of Atmanirbhar Bharat Post COVID – 19
COVID-19 has spread to over 200 countries across the globe, exposing fragility of healthcare systems, inefficiency of social protection frameworks and lack of economic resilience. Governments have taken drastic measures like imposing country-wide lockdowns and closing borders to arrest further spread of the pandemic. These strategies, however, have caused slowdown in economic activity and trade, disrupting global supply chains. World Trade Organisation (WTO) estimates that impact of health crisis on global trade will be more severe than that of financial crisis of 2008-09. Devastating consequences on nations like India is being witnessed due to large population and weak healthcare infrastructure (Warjri & Shah, 2020). Read More
