All You Need to Know about Data Security and How to Protect yourself Online
Data Security in the News for All the Wrong Reasons The issue of data security has been in the news in recent months. First, there were reports of hacking of computers in the Presidential Election of 2016 where Russian hackers were alleged to have hacked into the computers of the Democratic Party and reveal insider […]
Information Security Threats in Organizations and Ensuring Prevention and Recovery
It has become commonplace in contemporary organizations to have extensive IT (Information Technology) infrastructure and software and hardware assets. Indeed, with the wholesome adoption of IT by organizations, there is no organization worth its name that does not have an IT backbone no matter how small it is. This means that organizations cannot function without […]
Lionel Messi and Cristiano Ronaldo: Convicted Criminals?
Lionel Messi and Cristiano Ronaldo are arguably the best soccer players in the world. Their performance in the recently concluded FIFA World Cup was highly viewed as well as highly scrutinized by the critics. Their fans often argue and even fight over who is better than the other. Their supremacy over the soccer field is […]
Selecting Critical Business Process for BPI Projects
Using Business Process Improvement as a tool to improve internal efficiencies and to bring about the desired changes in business operations has become an accepted practice in most of the Organizations. At a time where the life cycle of products and businesses is becoming shorter and fast changing in line with changes in technology and […]
The Problem with Antitrust Laws
During the 19th century, the robber barons were dominating the American economy. A handful of people had more wealth and power than the entire nation. It is for this reason that they would collude with each other to keep everyone else at bay. These robber barons were depriving everybody else of fair opportunity as a […]
The recent report by the World Bank about doing business in India places the country at 130 among the nearly 180 countries surveyed. India has risen by four places as compared to 2015 and other parameters in the index have improved.
The change of government in 2014 which ushered in a pro business and pro-reform dispensation headed by Prime Minister Narendra Modi is cited for the noticeable increase in developmental indices such as the GDP (Gross Domestic Product) growth rate, FDI (Foreign Direct Investment) inflows, and an overall increase in competitiveness.
For instance, the GDP growth for the last two years has been above 7% (though there are some doubts about the methodology followed), inflation has been tamed and cooler at around 5%, the FDI for the last year has been at $63 Billion surpassing even China that has been a global benchmark for the last decade or so in terms of attracting foreign capital. All these measures seem to indicate that India is indeed a “rising star” and is being seen as the “fastest growing major economy” in the world.
Having said that, it must also be noted that while the market sentiment and the investment climate has improved, much needs to be done on the ground for India to be able to fulfil its potential as a “Caged Elephant” that can overtake the “Asian Tigers”.
For instance, the ease of land acquisition is still yet to be reformed, and successive governments including the present one have tried without success to pass legislation that is business friendly and inclusive at the same time. In a similar vein, the ambitious GST or the Goods and Services Tax Bill which envisages a unified market under one tax rate is stuck in Parliament despite the Modi government expending significant political capital on its passage.
In addition, if the ease of doing business in India has to succeed, there needs to be reform of the labour laws as well as noticeable improvement in the physical and virtual infrastructure.
Further, the success of any attempt to make the Indian economy investor and business friendly would also have to take into account the slow moving Judiciary, the rampant corruption that has corroded all the institutions and has been a bottleneck for economic growth which can only happen with a mindset change at all levels and in all sections of society.
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What the Current Wave of Protectionism and Populism mean for the Future of Globalization and Free Trade
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