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15 August 2019

Sequencing Governance and Economic Growth

The Narendra Modi government came to power in India in 2014, promising "minimum government, maximum governance". Its roll-out of numerous government schemes meant that democracy and governance came before economic growth. But it returned Modi to power.Analysing the current debate on growth and governance the author explores how the sequencing of governance and economic outcomes is different in China, Turkey and India

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14 August 2019

The Persian merchants of Bombay

Bombay’s trade with the Persian Empire grew rapidly in the 19th century because of regular steamship services between the city and prominent Iranian ports such as Bushire. The wealthy and public-spirited Persian merchants, who settled in Bombay, endowed their community with a religious and social infrastructure, in use even today

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8 August 2019

Africa’s ambitious path to trade growth

The African Continental Free Trade Area, launched in July, is a landmark achievement, aiming to eliminate tariffs on 90% of products covered by intra-Africa trade and thereby spur entrepreneurial initiative and job creation. It envisages many other gains as well, but the hurdles in their realisation cannot be wished away. An analysis

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1 August 2019

A case for the petrorupee

India can catalyse trading in oil on its domestic exchanges, and thereby adjust global oil prices so they reflect the changing patterns of global trade. In the process, this can help Indian companies and government reduce the risks arising from high energy prices. And in the long run, it can give India a more central position in the global financial system

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25 July 2019

India’s potential game changers

The reelected BJP government faces the dual challenges of agriculture stress and weak employment. The author believes that India's world standing in food and agriculture gives it a platform to address the issue of genetically modified seeds, and that performance risk insurance should be used to support financing for Small and Medium Enterprises

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18 July 2019

Bombay’s Irani cafes

The Irani cafés of Mumbai are a unique part of the city’s history. Founded about 120 years ago by Zoroastrian and Shia immigrants from Iran, they catered principally to workers in mills and factories. The few that remain are a reminder of a well- assimilated cultural, particularly culinary, link between India and Iran

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11 July 2019

Making India a Methane Economy

India is the second largest emitter of methane in the world. But methane-cracking has enormous economic potential. It can help India become a high-technology manufacturing powerhouse by producing a steady supply of methane-derived, advanced carbon materials and hydrogen-energized transportation

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11 July 2019

Chandrayaan-2: presaging private participation

On 15 July, the Indian space programme will achieve a feat with the Chandrayaan-2 mission. Two challenges lie ahead: the speedy construction of Chandrayaan-3 and the development of a public-private ecosystem of space capabilities