INDIA
EC’s special intensive review is a corrective to contaminated electoral rolls
The task may not be as difficult as it seems. That illegal immigrants have entered the voter rolls is evident from the recent deportation drives after Operation Sindoor
WORLD
Dhaka Diary 3: Yunus administration outdoes Hasina government in record time
Fake cases, arbitrary arrests and political persecution are some defining characteristics of the Yunus-led administration in Bangladesh. Indeed, it is no different from the record of the deposed Sheikh Hasina-led government. The difference, if that matters, is the Yunus-led regime has likely undermined the judicial system to a greater extent in far less time
WORLD
Dhaka Diary 2: Will an election change anything?
Bangladesh’s economy is in trouble, with critical economic indicators weakening since the July 2024 ouster of Sheikh Hasina. Political uncertainty looms with the equation between Yunus and BNP turning fractious. More importantly, for many ordinary Bangladeshis, there’s a sense of quiet despair at the lack of political choice and the absence of positive economic developments. An Indian journalist gauges the public mood in Dhaka
BUSINESS
Dhaka Diary 1: Fading impact of July 2024 uprising
It’s almost a year since street protests toppled the Sheikh Hasina regime. The fervour that undergirded the protests and the anticipation of far-reaching change have given way to something akin to weary acceptance. An Indian journalist in Dhaka spoke to a cross-section of Bangladeshis to discern that they yearn good governance
WORLD
Indus Treaty suspension is a wakeup call for Bangladesh
Yunus government in Dhaka has been cosying up to Pakistan and China, unmindful of India’s security concerns. Posters of the banned Hizb-ut Tahrir are widespread in Bangladesh. Al-Qaeda flags are a common sight in Dhaka. The India-Bangladesh Ganga Water Treaty comes up for renewal next year. It’s still not too late for Bangladesh to reassess its approach to India
BUSINESS
As the world reels from Trump tariffs, India’s playing it right
Panic-stricken offers to bring tariffs down to zero haven’t really impressed Trump. No one’s off the hook yet. Given this context, India’s approach has been wise in trying to impart greater stability through a bilateral trade agreement with the US. The 90-day pause needs to be utilised to firm up the deal, followed by FTAs with all major trading partners except China
BUSINESS
How Assam’s ability to attract investments has made it a lodestar
Tata group’s proposal to locate its greenfield semiconductor facility in Assam made everyone sit up and take notice. It was not a stroke of luck but the outcome of sustained work for over a decade. In its CM Himanta Biswa Sarma, the state has a leader whose clout extends much beyond the region, which helps in attracting investment
BUSINESS
A Bilateral Trade Agreement will insulate India from Trump’s tariff squeeze
Following the Trump-Modi meeting in Washington, both sides agreed to negotiate the first tranche of a multi-sector BTA by the fall of 2025. This is evidence of India getting a good deal, something U.S. trade treaty partners haven’t yet pulled off. However, time is short and India needs to use it to meet the deadline and avoid trade-related shocks to the economy.
BUSINESS
Infra projects deserve opportunities for refinancing. Will RBI relax its NPA policy?
Refinance is the missing piece of the puzzle as India goes big on infrastructure building. RBI scrapped refinance schemes in a kneejerk response after the IL&FS debacle, and imposed strict NPA provisioning norms, blocking extension of repayment periods. This needs to change as large infra projects needs long ‘concession’ periods, stretching at least 30 years
INDIA
CAA Rules: Righting the neglect and wrongs of decades
The Punjabi migration was over in a year or two of Partition but the displacement of Hindu Bengalis continued in very large volumes till 1971 and never stopped. For decades, GoI did precious little for these immigrants even as the state government machinery turned them into a votebank. Citizenship to the undocumented is belated recompense for those who lost everything on the other side of the border
BUSINESS
How Himanta swung the Tata Semiconductor Assembly and Test (TSAT) project to Assam
In a rare instance of a highly advanced industry stepping out of the comfort zones of India’s industrial belts like Gujarat, Maharashtra, Tamil Nadu, etc, Assam has bagged the prestigious Rs 27,000 crore semiconductor assembling and testing unit project. For months and weeks, Assam CM Himanta Biswa Sarma made the rounds of the power corridors in New Delhi to dispel doubts of Assam’s ability to execute the project
INDIA
Energy transition will hit a roadblock unless power sector’s inefficient status quo is dismantled
The Indian power system is in a bind. The overcharged section of consumers have reason to switch to solar to cut costs. But state monopoly in distribution tries to prevent their exodus, to preserve revenues. The Suryodaya Yojana promoting rooftop solar is coming amid this delicate scenario. Subsidy on the final consumer cannot be eliminated but the subsidy regime should be made transparent
BUSINESS
The North-East finally closes its infrastructure ‘gap’ with Assam leading the way
Assam as the connecting state to the North-East’s “seven sisters” is witnessing a paradigm shift. If Assam prospers, its immediate neighbours will benefit
INDIA
A Temple For Ram: A strong symbol of unity finds his rightful place in the life of the nation
The common people never had any doubt that they own a rich civilisation. They saw the world through the Ramayana and Mahabharata. Unlike other gods and goddesses, people visualise Ram in blood and flesh. That’s a very strong visualisation for a god. And, that explains why there are 350 railway stations, thousands of towns, villages and neighbourhoods in Ram’s name
BUSINESS
The cat-and-mouse game derailing India's projects in Bangladesh
For all the talk of Sheikh Hasina being pro-India she has neglected many projects that would have furthered economic cooperation between India and Bangladesh. The lure of China’s easy money has proven too hard to resist
BUSINESS
Bangladesh: Sheikh Hasina triumphs again, but to what end?
Awami League will govern Bangladesh again with a brute majority. But the facade of a stable government can no longer mask the intensifying political strife and economic crisis
BUSINESS
Bangladesh: As elections draw close, India needs to rethink its strategies
Holding a free and fair election was never a virtue of India’s eastern neighbour. But elections had never been as consistently farcical either. It would be of keen interest to know how the prevailing scenario in Dhaka had been helping and would help the Indian cause
BUSINESS
Pension Scheme Dilemma: OPS is fiscally unstable while NPS needs more strengthening
The primary task is to take the four states – Rajasthan, Chhattisgarh, Jharkhand, and Himachal – which implemented OPS between 2022 and 2023, back to NPS. This is easier said than done
INDIA
Critical Mineral Blocks: Getting mining auctions right is key for India's growth ambition
The global dependence on China for critical minerals and their refining has made it important for India to build its own efficiencies in this key area. It is early days yet as India embarks on this new path and regulatory frameworks and skill sets will have to be put in place quickly
POLITICS
It’s time for the CAG to undergo a performance audit
There is no political consensus yet to reform the institution and make it useful to democracy
BUSINESS
Bangladesh: An economic disaster, not just a forex crisis, is in the making
When competitors report a sharp decline in specific garment exports, shipments of those from Bangladesh grew in July-August. From $48 billion in 2021, forex reserves are a lowly $21 billion. A $12 billion gap between shipment values and export receipts suggests corruption or data fudging. Exchange rate mishandling has dented the trust of migrant workers and their foreign remittances
BUSINESS
India Railways needs Chinese wheels to run its trains
The introduction of new passenger coaches and wagons enhanced the demand for the rolling stock. However, the second largest steelmaking nation in the world with a long history in forging, did not create domestic capacity. Wheels and axles are imported from China, Malaysia, Europe and the US to meet the demand-supply gap
BUSINESS
Russia's diesel export curbs can be a windfall for India
Russia’s decision to curb diesel exports in the peak winter stocking period provides Indian refiners an opportunity to step up the export of petroleum products and lower the trade deficit
BUSINESS
India needs to weigh its options in Bangladesh
Supporting friendly nations is necessary. However, it is time Delhi must question the unstinted support to a hugely unpopular Bangladeshi leadership, which has been in power for 15 years
