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Sushma-Ramachandran

India’s image as a major economic power cemented by G20

Sushma Ramachandran The past year in this country has been dominated by conversations about the progress of work being carried out by the G20 under the presidency of India. The fact that being the rotational head of this powerful global group has been turned into a celebration of India’s soft cultural power and hard economic clout has been a source of amazement to the world. Other countries like the U.S. are reported to be regretting...

India continues to be the shining star as rating agencies give thumbs up to its economy

Sushma Ramachandran India looks set to retain its tag of the fastest-growing economy in the world this year, judging by forecasts being made for the first quarter of 2023-24. Leading credit rating agency Icra Ratings has pegged growth in the April - June quarter at 8.5 percent, even higher than projections made by the Reserve Bank of India. Yet it expects growth to moderate later in the year, bringing overall growth for this fiscal to six ...

Missing Jawan rescued by Police in Kashmir

Srinagar In a major development, the Jammu and Kashmir police have recovered an army soldier who had gone missing and was believed to have been abducted by terrorists from Kulgam where he was on leave to celebrate Eid with his family. Giving this information the Additional Director General of Police Vijay Kumar told mediapersons in Srinagar that Sepoy Jawed Ahmed Wani was being examined by doctors and then he will be subjected to joint...

PM Modi's visit changed the course of India-US relations to unprecedented levels

Sushma Ramachandran Expectedly, Prime Minister Narendra Modi’s visit to the U.S. was a breakthrough in the otherwise volatile relationship between the two countries. However, its outcome has exceeded all expectations. The India-U.S. relationship has been elevated to an unprecedented level. The positive narrative began with the nature of the trip, with a state visit rolled out for only the third Indian leader sin...

Time to cut retail prices as crude market shows softening trends

Sushma Ramachandran World oil markets continue to show softening trends, a development that is causing much cheer in emerging economies like India. Countries that need to import most of their fuel needs have been under severe stress since last year when geopolitical events pushed crude oil prices towards stratospheric levels. The current dip to more affordable levels is continuing despite strenuous efforts being made by th...

Withdrawal of Rs. 2000 notes will not impact common man

Sushma Ramachandran The use of cash for making payments is increasingly considered obsolete in India. Recently I hired a driver and assured him that any parking charges would be reimbursed. The young man said he only used Paytm for payments and the wallet could be used to compensate him too. He never carried cash and was amused at my using currency notes. The anecdote illustrates the enormous change that digital payments have brought a...

India is the only bright spot in South Asia

Sushma Ramachandran South Asia seems to facing an economic crisis as most countries in the region, barring India are seeking help from the International Monetary Fund. Pakistan, Nepal, Sri Lanka, and Bangladesh are all trying to revive their economies with loans from the multilateral financial institution. Amid this turmoil, India is looking like an outlier as it looks set to become the fastest-growing major economy in the world in 202...

Global interdependence needs to be the mantra

Sushma Ramachandran The plan to revive desi Cola brand Campa Cola has stirred up nostalgia. The fizzy drink that replaced global icons Coke and Pepsi for nearly two decades still has a place in the hearts of the older generation. Apart from recollections of a unique brand, it also stirs recognition that the atmanirbhar (self-reliance) concept is not a new one. The idea of being self-sufficient was one of the core principles of economic pol...

High vehicle sales including EVs is a good omen for Indian economy

Sushma Ramachandran Going by the latest data on sales for 2022-23, the automobile industry is reviving rapidly. This is good news for the economy as the industry plays a dominating role in the manufacturing sector. In case this momentum is sustained, it will help in ensuring that the pace of economic growth reaches the target of 6.4 percent in the current financial year. At this level, it is still expected to remain the fastest-growing maj...

SVB Collapse: lessons for Indian startups and businesses

Sushma Ramachandran The sudden collapse of a high-profile and reputed bank in the U.S. has stunned the Indian tech and start-up community. The Silicon Valley Bank (SVB) that shut shop in early March after a run on the institution was recently placed on the Best Banks list of Forbes magazine. It was the 16th largest bank in the U.S. with assets estimated at nearly 200 billion dollars. It now has the distinction of being the secon...

Good news from Europe, but poor countries still need G20 help

Sushma Ramachandran The good news is that fears of a recession in Europe are fading away. Green shoots of growth in the British corporate sector have been recorded after a gap of seven months while the Eurozone saw growth touch a nine-month high in February. These are encouraging reports at a time when the global economy is forecast to slow down to 2.9 percent in 2023 from 3.4 percent last year. Much of the sluggishness is attributed t...

Rajan's 'Hindu rate of growth' based on wrong premise

Sushma Ramachandran Former Reserve Bank Governor Raghuram Rajan’s latest salvo on the Indian economy warns that the country is hovering “dangerously close” to the Hindu rate of growth. The reference is to the growth rate of 3.5 to 4 percent, the average during the initial decades after independence. The term “Hindu rate of growth” was coined by economist Raj Krishna indicating that the slow pace was some...

The something for all budget has started showing an impact

Sushma Ramachandran/ Finance Minister Nirmala Sitharaman’s fifth budget seems to have put smiles on everyone’s faces. An effort has been made to provide succor to all sections of society - from tribals to farmers to the salaried middle class even while pushing forward with the drive toward aggressive investment in infrastructure. Elections are due next year but the government was not expected to present a p...

The story of Amul: Giant economic strides by small farmers:

Sushma Ramachandran/ The news that R.S. Sodhi, managing director of the iconic dairy products brand, Amul for the past 12 years has resigned, set in motion considerable speculation over the reasons for his exit. His leadership tenure spanned an era during which the organisation leapfrogged from a turnover of Rs. 8000 crores to Rs. 71000 crores. Whatever the reasons for his departure, there is no doubt that Amul and its dairy produc...

The story of Amul: Giant economic strides by small farmers

The story of Amul: Giant economic strides by small farmers: Sushma Ramachandran The news that R.S. Sodhi, managing director of the iconic dairy products brand, Amul for the past 12 years has resigned, set in motion considerable speculation over the reasons for his exit. His leadership tenure spanned an era during which the organisation leapfrogged from a turnover of Rs. 8000 crores to Rs. 71000 crores. Whatever the reasons for...

2023 – India’s growth story vs the dismal global outlook

Sushma Ramachandran The past year has been a roller coaster in many ways. It began with the third wave of the pandemic in a milder form with the Omicron variant, raising hopes that the world would get back to normalcy in a short time. While the virus did recede in most parts of the world, these hopes were dashed as other geopolitical developments had an adverse impact. The Russian invasion of Ukraine at the end of February had ripple effec...

PSU disinvestment: Credible process needed, no hurry

Sushma Ramachandran The news that the government is inviting expressions of interest for the strategic sale of the Rashtriya Ispat Nigam Limited (RINL) has sparked hopes that the privatization process may get a fillip in the current fiscal. Till recently it was expected that the public sector disinvestment target of Rs. 65000 crores set in the budget was not likely to be achieved this year. Reports indicate that the government is now think...

Unrest in China: India can become preferred FDI destination

Sushma Ramachandran/ The latest developments in China are being watched with keen interest around the world. One of the main reasons for the close watch is that it is the second-largest economy and any upheavals there can spread ripples throughout the globe. The zero Covid policy has already led to lockdowns and movement curbs in major industrial regions of that country and slowed down economic growth considerably. The latest projections b...

India billionaires need to make giving away a norm

Sushma Ramachandran With Amazon founder Jeff Bezos announcing his wish to give away most of his money to charity, it looks as if the philanthropy bug has spread far and wide among the super-billionaire community. Bezos is worth a cool 124 billion dollars, a mind-boggling amount that no one needs for his personal needs. It is thus all to the good that he has followed the path charted by others in his league like Bill and Me...

Volatile oil markets pose a challenge to India’s growth

Sushma Ramachandran The Indian economy looks set to grow faster than most others in the world today but it faces a threat in the form of volatile global oil prices. Though it is broadly expected to grow at around 6.5 to 7 percent in the current fiscal – 2022-23 – rising oil prices can act as a dampener. Fortunately, there has been considerable softening in the international market over the last few months which has brought some...

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