Thursday, August 13, 1998
Climbing the wall
Whenever the yen plunges, our eyes turn automatically to China. The reason is simple--if the Chinese decide to devalue the yuan, that'll make steel, textiles, petrochemicals, plastics and chemicals cheaper, with disastrous consequences both for our exports as well as our domestic industry.
Strengthening ties
Reports indicate that Chambal Fertilizers & Chemicals has signed an MoU with an Australian company for setting up a joint venture to produce miniature potato seeds. Other fertilizer majors like Nagarjuna Fertilizers and Indo Gulf Fertilizers have also diversified from producing urea to related areas like the marketing of pesticides and other agri-products.
Public-sector banks in search of a strategy
The second report of the Narsimham Committee on financial sector reforms has, in some ways, charted the external environment in which the Indian banking sector is likely to operate and the regulatory thought processes that are likely to inform policy-making in the near and not so near future.
|
|
