The Indian Economy Blog

Archive for December, 2007

India’s Retail Revolution: Question 2

Sunday, December 30th, 2007

How much lower are prices because of the new retailers? Are clothes and shoes at the malls and new retail stores in India much more expensive than in the United States? It seems that way, to me at least. For instance, during my last visit to Chennai, I bought a pair of Reebok sneakers having [...]

India’s Retail Revolution: Question 1

Tuesday, December 25th, 2007

How many jobs have the new retailers actually created? The Wall Street Journal, in an article last month, writes that jobs in India’s booming retail industry are a ticket out of the slums for many. The article, titled Humble Jobs at the Mall Are Lifting Legions of Indians Out of Poverty and told from the [...]

Feeling Good About Indian Economy

Sunday, December 23rd, 2007

As another year draws to an end, extracts from two speeches delivered this year — one by an ex-finance minister (who happens to be the current Prime Minister) and another by the current Finance Minister. Both the speeches were delivered to a foreign audience and the extracts reproduced here cover only the hard facts, not [...]

The Rise And Rise Of The Rupee, Or How To Screech A Galloping Elephant To A Halt Atop Of A Dollar Bill

Friday, December 21st, 2007

Well my advice on this one – the galloping elephant part (you know, we’ve had the Tigers, the Lynxes, and the Giant Panda, and now its the turn of the Thundering Elephant to lead the global economy onwards and upward) – is not to try it. The very least that could happen is you get [...]

The Economist On India

Wednesday, December 19th, 2007

Well, here I am, hard at it trying to write a review for this blog of the latest Economist Intelligence Unit country risk report on India (which, worry not, will follow in due course) and what I find myself doing is revving-up on all cylinders to come back and point out some of the facts [...]

Contrasting Chinese And Indian Oligarchy

Saturday, December 15th, 2007

Renowned Australian author and economist Stewart Klegg brings a new angle to the India and China debate. He is scathing in his criticism of the Chinese state apparatus while claiming that there are enormous distortions in the Indian growth model due to a small oligarchy atop the system. India is often compared with China. But [...]

World Bank Loan In Rupees

Tuesday, December 11th, 2007

…likely for the Maharashtra government. The BBC reports that the World Bank is considering the first ever proposal for a loan of $3.5 billion to be disbursed and repaid in rupees and not the US dollar. This is being done to ostensibly counter the fluctuating rupee- dollar rate. However, it needs no saying that a [...]

Why Does India Have Such Terrible Politicians — 3

Saturday, December 8th, 2007

Russell Roberts says We should be realistic about politicians. George Stigler used to contrast his theory of politics with Ralph Nader’s. In Nader’s view, all of the ugly aspects of government were caused by the wrong people getting elected. If we could just elect better people, then we’d get better policies. Stigler argued that it [...]

Meet The New Boss…?

Monday, December 3rd, 2007

Removing corruption in India entails a look at ultimate reasons, not proximate causes Here’s a supposedly novel approach to corruption, the legalization of bribery, courtesy Ajay Shankar Pandey, the Municipal Commissioner of Ghaziabad [Chicago Tribune]. Today, contractors being paid after finishing long-delayed construction projects write the municipality a check for the 15 percent bribe that [...]

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