Swaminathan S Anklesaria Aiyar
Marx to market, Bengal voters are no longer buying inequality narrative
Voters care not a fig for statistical debates. What they do know is that soaring stock markets have made the wealthy wealthier. However, they are not unhappy that Mukesh Ambani has become richer, nor are they happy that Anil Ambani has gone bust. They don’t care either way because, unlike Left ideologues, they do not think that they are poor because the rich are getting richer
Opposition should have backed delimitation
Analysts had expected BJP to invoke equal representation to increase the proportion of seats in the Hindi belt, where family planning was weakest, and the population expansion was highest. Instead, it proposed a flat 50% increase in seats for all states regardless of population. BJP has the moral high ground and sounder logic
Hormuz free passage is over, and so is the era of global cooperation
Having tasted blood, Iran is not going to go back to free naval passage. Other countries may well follow suit
The Gallipoli lesson Donald Trump would do well to remember in the Gulf
Low-tech Iranian mines and drones are paralyzing commercial traffic in the Gulf, challenging the US Navy's dominance. This echoes WWI's Battle of Gallipoli, where mines hobbled Britain's mighty fleet. Iran's asymmetric tactics threaten global supply chains and could impact US elections.
China FDI: Door opens but the Great Wall stays
India's revised Press Note 3 aims to ease Chinese investment but retains strict joint venture rules, limiting FDI. This approach, seen as economically self-defeating, overlooks China's technological prowess and global investment patterns. Experts argue controlled Chinese investment, not exclusion, could actually enhance India's security leverage.
Why trade deals can’t help India become a major apparel exporter
Free-trade agreements can open doors. But if domestic policy keeps tying knots in the supply chain, those doors will lead nowhere. India must decide whether to protect a few or empower the many.
Taxing the rich? The middle class would much rather join them
Instead of excoriating these targets of leftist wrath, the middle class would rather join them by becoming shareholders, directly or through mutual funds
To put it crudely, Big Oil will scupper Trump’s Venezuela plan
Trump’s notion that his action will transform US energy security belongs to a Cold War mindset. Oil is no longer the strategic choke point it once was. Big Oil knows it is a sunset industry and will invest only in profitable locations
In 2026 Trumpism could fail but that might not affect India
Even if a sharp US slowdown is likely, India should fare well in 2026
- Swaminathan S Anklesaria Aiyar
- THE ECONOMIC TIMES
Push, not rush. India shouldn’t lock itself into nuclear power
Opening the nuclear power sector to private investors is desirable. But India should proceed cautiously without rigid targets, ready for sharp changes in the investment mix as required
India’s 8.2% GDP surprise points to a quiet economic revolution
India’s 8.2% Q2 growth isn’t a statistical quirk but the latest sign of a deeper structural shift. Multiple small reforms, digital efficiencies and sectoral tailwinds seem to be compounding into a new growth engine. The question now is whether India can sustain this momentum in a turbulent global year
- Swaminathan S Anklesaria Aiyar
- THE ECONOMIC TIMES
Swami’s Column: A brave move I suggest RBI governor should make
Statutory liquidity ratio (SLR) has long propped up government borrowing at the cost of private-sector growth. Dismantling it could be the boldest – and most overdue – reform for a $10 trillion ambition
- Swaminathan S Anklesaria Aiyar
- ET Bureau
Not the freebies, stupid! What Bihar’s voters know and pundits don’t
Bihar's surprising landslide victory for Nitish Kumar's NDA is attributed to coalition expansion and voter focus on good governance, not just freebies. Despite perceptions of stagnation, Bihar's economy shows significant growth, driven by construction and central govt investments. Out-migration, often seen as a problem, is actually boosting rural wages and remittances, paving the way for future prosperity
Buck for ballot? Why a Nitish win won’t be a victory for freebies
The loss of 63 seats in the 2024 general election seems to be the reason BJP decided to compete in cash doles in the subsequent Haryana and Maharashtra state elections. But will it have an impact in Bihar? Nov 14 will tell
Decoding the puzzle of India’s low murder rate
India's murder rate has hit a historic low, now among the world's lowest. Despite a flawed justice system, this decline is attributed to reduced militancy and improved policing. Unlike crime-plagued regions in Africa and Latin America, India's informal economy fosters a sense of order and protection, leading to remarkable safety
Will humans triumph over errant AI just like Ram did over Ravan?
Some experts warn that AI poses a ‘risk of extinction’ to humanity. But if history is anything to go by, predictions of doom routinely underestimate human adaptability
- Swaminathan S Anklesaria Aiyar
- THE ECONOMIC TIMES
Google AI hub is a turning point, not a trophy
Will Google’s centre in Visakhapatnam be a survivor? Nobody knows. But even if it fails, it will leave a very valuable residue. India would still retain its new infrastructure and, most importantly, trained talent.
India wants rupee to be global currency. China's experiment should offer a stark warning
RBI's small steps like last week's to internationalise the Rupee are ok, but don’t think of full convertibility now, the columnist says. Here's why
- Swaminathan S Anklesaria Aiyar
- ET Bureau
India can attract far more foreign investment, so why doesn’t it?
To achieve that we need second-generation reforms in politically difficult areas like labour, environment, and land acquisition. But even first-generation reforms—lifting controls and permits—are far from complete
Slowdown scare to ‘miracle economy’, India’s growth defies pessimists
The Indian economy is performing well. Recent growth figures have surpassed expectations. Despite concerns from economists and potential trade impacts from the US, India's GDP continues to rise. The nation's resilience is evident amid global uncertainty.