2/ncrh Remember these are the same folks whose neo-colonial progeny, preach us "principles" to support their selfish interests, and to "shame" us into working against our own national interest
3/ncrh The response must be rational, not emotional. Learn about India's (own) National interest, and the national interests of the major powers (Hint: USSR & PRC were colonial) to understand how "principles" are used & misused!
As I have said in many talks, and as the author @pujamehra wrote, the period 2004-13, was a, “lost decade” in terms of economic policy reform, not in terms of GDP growth rate. The latter was due to the lagged effects of 1991-2003 reforms.
The effects of sept 2019-March 2022 #policy#reforms will therefore, likely not be visible in the growth rate, before FY 24 or FY 25. However, the quicker the changes in law are reflected in the rules & procedure applicable to firms, the quicker they will be reflected in growth!
3/gdpi Remember “#India#Shining” campaign in 2003-4: Bcs of lags btwn enactment of policy rfrm into law, their translation into rules & procedures, and decisions by investors, it took years to translate policy reforms into aggregate growth. Wrld econ is in much worse shape today
Today I am going to talk about an old & dear friend, one of the first Indian startup entrepreneurs(electronics hardware), an amazing patriot, who was badly treated by GOI, 12-13 years ago. I met him again after 13 years & heard the amazing story, which I had missed. 1/n ….2/n
2/n This friend’s company, designed & implemented for the IAF in many airfields, (1) the national real time digital, communication system, for the IAF, which is now used to communicate between every defence airport and every air headquarters. (2) ….3/n
3/n (2) A cellular air control system for the air force, the best in the world at that time, to replace the legacy system of the kind, which is still used in most civilian airports in India. What happened next, is a disgrace to the country….4/n
India has been pleading with “super power #USA” for 15 yrs, to help strengthen #India’s technological capabilities, so it can independently deter aggression by #China in the Indian sub-continent, & become key US-backed security provider in the Indian Ocean & its littoral (#IOR).
2/indus The logic of competitive strategy(Andrew marshal) shows that its in the best interest of USA to provide strategic technology to India to get best bang out of its military budget, so as to divert PLA attention away from Taiwan which is critical to long term defence of USA
3/indus For example, (1) accelerated development of an SLBM with a range of 5000 km. (2) Capability to detect(24x7) PLRF launches of conventional & nuclear missiles within seconds of launch. (3) Defence production capability(#AND) to sustain a hot war with PLA for > month, (4)…
🃏”Widespread protests by Sikhs in Arab World, Turkey, Iran, Pakistan, Indonesia, Malaysia, and other Muslim majority countries (Oh sorry, my mistake, there are no Sikhs, in these countries?)”
68/indus I am confident that #US foreign policy establishment, which is still nostalgic about its 20th C World dominance, will eventually realise that #India will have to be treated in 21st C, as an independent (albeit junior) “partner”, not a 20th C, “Allied Minor (child)”!
#IndiaEcon Policy reform must be translated into simpler rules & procedures on the ground, before it translates into production efficiency, investment, job creation and productivity: Well designed & implemented reform, will reboot the economy. ..2/ hindustantimes.com/india-news/reb…
2/rfrm Badly designed reform, like original GST structure (with 10s of Cess), will Not result in greater efficiency or growth. Incomplete reform, like Labour codes, will not generate visibly more jobs, till simple rules, procedures & reporting requirements are put in place!
3/rfrm There are 2 human weakness to beware; Tendency to, (1) “rest on ones laurels” tire & leave things incomplete and/or unattended, (2) Arrogance; In a world of great uncertainty, shocks & big changes, one has to constantly learn and adapt to new threats & opportunities!