28 October, 2020

The Silver Bullet’s Ricochet

With China’s might and security concerns impinging on the prospects of Indian businesses, Dasgupta offers a primer on making the most of bilateral trade opportunities

The Silver Bullet’s Ricochet
outlookindia.com
2020-02-07T14:36:47+05:30

Decades after the world discovered the opportunities a rising China ­offered by way of trade and investment, and started to carve out strategies to take advantage of its opening, business circles in India, Dasgu­pta appears to suggest, still cannot decide whether it presents a threat or an opportunity.

Economics, however, is very much still a function of politics in this country. Much of the book covers ground that has been the subject of extesnive research and discussion since PM Vajpayee’s path-breaking visit and the agreement to resolve the boundary dispute politically. This gave a shot in the arm to business ties and China soon became India’s largest trading partner.

Even as our exports to China increased by over 15 per cent (imports also increased marginally), ­macro-level optics continue to be shaped by the massive trade deficit—we buy three times as much as we sell to China. While the problem could partly be that China does not provide easy ­access to its market, Das­gupta believes that the “Indian side has not been...

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