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Showing posts from October, 2009

Free Expression

Jaswant Singh may have suspected all along that the release of his latest book “Jinnah – India, Partition, Independence” would create a stir in India’s political circles. These are known to harbour a reputation of rarely thinking beyond the paradigm. However, he could never have had the slightest inkling that the response of his own party could be as extreme, so as to terminate an association that was build over decades of personal commitment. He must now wonder with bewilderment as to the levels to which the BJP has fallen on moral grounds by the rejection of free expression.

The expulsion of Mr Singh from primary membership of the BJP is indicative of a larger malaise that the party seems to have acquired following its defeat in India’s parliamentary elections. Instead of focusing on a structural reorganisation which involves replacing older individuals from leadership positions, with a new generation of younger smarter people, the BJP disappointingly remains shackled in internal con…

Too early to rejoice

It is hard not to notice the contagious excitement amongst punters about the stock markets. In a recent interview with Vikram Chandra of NDTV, Rakesh Jhunjhunwala, a Mumbai-based equity investor, excitedly spoke about his bullishness on India’s longer term future and its positive consequences on stock values. Mr Jhunjhunwala was clever enough not to commit himself too obviously on nearer term forecasts, but he did leave the impression amongst less observant viewers that the worst, for the economy, was certainly over and that the markets would sustain buoyancy in the months ahead. Other forecasters too remain eagerly optimistic with lofty claims of where the Sensex may be in the few months leading up to the Finance Budget. Perhaps it is a bit early yet, for traders, to rejoice the return of good times.

The economy certainly seems to be on a path of recovery. Demand is strong in many consumer segments such as durables, electronics and passenger cars. Cement despatches, as the chart sugge…