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Amitendu Palit
India’s export profile gives the impression that it is an energy surplus country. However, almost everybody knows it to be otherwise. Then why does it export so much of refined petroleum products?
The Sino-Indian relationship remains pregnant with interesting possibilities. Bilateral developments continue to excite both sceptics and optimists. Sceptics hardly see light at the end of the tunnel that both countries trudge.
The financial crisis made Asian regionalism. This is not only due to the collapse of Western export markets. The outlook for global recovery is also more optimistic about a quicker turnaround in Asia as compared to Europe and North America.
A year after the Lehman Brothers went bankrupt, the jury is still out on whether the world economy has actually ‘decoupled’ or not. The decoupling paradigm had gained considerable strength before the manifestation of the financial crisis.
Healthy political ties are considered positive for bilateral economic engagement. Bilateral trade, investment and commercial transactions are expected to enhance along with improvement in mutual political ties.
India’s trade policies usually overlook a critical aspect of exports. They fail to realise that constraints affecting exports are more internal than external. The current policy is not an exception.
The Indian diaspora comprises around 23 million people spread over 110 countries. It includes people of Indian origin and non-resident Indians with the latter consisting of Indian citizens emigrating overseas and non-emigrants travelling abroad on professional or personal grounds.
The Economic Survey has indicated that the Indian economy is set to settle into a growth mode of 7% plus. The Budget to be unveiled today will likely confirm that. The general mood of optimism is reflected in the stock market.
The election results have made markets and industry hungry for more reforms. The wish list is large and includes a variety of policies, including actions on foreign direct investment.