Indias lemon opportunity

Updated: Sep 28 2007, 05:23am hrs
Nirvikar Singh has drawn timely attention to information assymetries in financial markets all around the world (Making lemonade of lemons, Sept 27). Little did we think that India could compete with the US in closing information gaps that are distorting the free functioning of markets. The opportunity he indicates is indeed vast, but it will take courage and visionary leadership to give India a genuine global edge.

TR Gupte, Mumbai

Nerve holding

If holding ones serve is important in tennis before one can go for a smash hit, holding ones nerve is important in politics before one can go full-throttle (Formula young racing, Sept 27). Rahul Gandhi has been accused of making impetuous statements in the past. But equally, a leader who is much too caged in by the weight of established perceptions of the electorate is not a leader. In politics, as in motor racing, you overtake on the inner edge of the curvesthe inflexion points. Is India there Its a judgment call. But an idling engine would have no future either way.

John Vikluto

Defence budget

Law Minister HR Bhardwaj says that the government had paid Rs 100 crore to foreign law firms to defend itself in the Enron case (Foreign legal eagles soon, Sept 26). But if foreign law firms are allowed in India, are we not to pay any fee to have them defend us

Jacob Sahayam, Thiruvananthapuram