At the customary press conference after the monetary policy announcement, RBI Governor Duvvuri Subbarao was asked whether he cut the policy rate this time around because he might have missed the bus with inflation expected to head up again next fiscal. I may have missed many buses, Subbarao said laughing, and much to the amusement of those present.
At the CII Global Partnership Summit in Agra, WTO director general Pascal Lamy got to know that the father of commerce, Kautilya (Chanakya), who wrote Arthashastra or the rulebook of commerce, was an Indian. On my trip to India, I discovered that he was an Indian and that commerce as a preoccupation goes long back in India. This is a good sign for the negotiations, he said.