13 June, 2021

The Market Is A Donkey

The uncertainty of certainty is India's hallmark. It should apply to growth too.

Madhu Kapparath
The Market Is A Donkey
When I wrote a book called No Full Stops in India nearly 17 years ago, my friend Karan Thapar accused me on television of wanting to drag India back into some mythical Golden Age which had never existed. I asked Karan, "Do you want an India true to itself or an imitation America?" Much has changed over those years. India then was on the verge of bankruptcy, the first faltering steps towards unravelling the red tape strangling the economy had not taken the country very far forward. The Hindu rate of growth had been overtaken, but no one was talking about India being one of the economic superpowers of the 21st century. Within the country, optimism was in short supply. Now India has been recognised for what it is, a country with the material and human resources to become one of the biggest players in the global market. It is argued that this change has come about because India has followed the example of the economically successful, Western countries and that it must follow them without questioning. But I still believe in what I wrote in No...

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