Preview

What Are We Reading

Good Essays
Open Document
Open Document
19477 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
What Are We Reading
The country urgently needs to shift focus from finance to commerce: Uday Kotak, Kotak Mahindra Bank

Uday Kotak, vice-chairman and managing director of Kotak Mahindra Bank, believes that solutions to India's problems are not in running after more US dollars, but fixing the broken Indian manufacturing. In an interview with ET, Kotak says that the society that has lost its bearings has to get it back - the middle class values that made the India story an attractive one globally. It will be a long and hard way to recovery. Edited excerpts: Is the India story fading? As we were all growing up there used to be a very big mantra in India which was called 'export or perish.' There was a long period when we used to focus on import substitution. In the past eight years, these two phrases 'export or perish' and 'import substitution' are no longer a part of the Indian economic vocabulary. I was looking at all the equipment and facilities, furniture for our new office. I was shocked that so much of it is imported. Tables and chairs are coming from Malaysia and China. You ask yourself what is happening to our manufacturing. If we are going to start importing, then we have a big challenge on our hands. Is the adverse trade balance the problem? You have to look at the March 2013 numbers and the number that strikes me the most - $500 billion imports and $300 billion exports. We have a $90-odd billion gap in terms of current account. It is a problem of commerce which is becoming a problem of finance. We have to get competitive. Can we afford to import Chinese Ganeshas? Are import curbs a solution? Today it has become a problem of finance. How are we trying to solve this - by getting more money to fix this. What about reducing the trade gap? If one is a heart patient, he needs a long walk. It's a long walk we must do. Is the young population an obstacle, or a boon? We have a billion mobile demand and 800 million users. Many are using more than one handset. Why are we not

You May Also Find These Documents Helpful

  • Powerful Essays

    Reading

    • 3080 Words
    • 13 Pages

    Discrimination against lesbians and gays is common in the workplace. Sole proprietors, managing partners, and corporate personnel officers can and often do make hiring, promoting, and firing decisions based on an individual’s real or perceived sexual orientation. Lesbian and gay job applicants are turned down and lesbian and gay employees are passed over for promotion or even fired by employers who view homosexuality as somehow detrimental to job performance or harmful to the company’s public profile. Such discrimination frequently results from the personal biases of individual decision makers. It is rarely written into company policy and thus is difficult to trace. However, in January 1991, Cracker Barrel Old Country Store, Inc., a chain of family restaurants, became the first and only major American corporation in recent memory to expressly prohibit the employment of lesbians and gays in its operating units. A nationally publicized boycott followed, with demonstrations in dozens of cities and towns. The controversy would not be resolved until a decade later. In the interim, Cracker Barrel would also face several charges of racism from both its employees and customers—suggesting that corporate bias against one cultural group may prove a useful predictor of bias against others.…

    • 3080 Words
    • 13 Pages
    Powerful Essays
  • Good Essays

    In 1991, the newly elected government in India embarked on a radical revamp of the economy as a necessary step to address the country’s balance-of-payments crisis. One of the many reforms it initiated was a liberalization drive to target foreign investment and attract trade.…

    • 654 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Eco Tourism in India

    • 5714 Words
    • 23 Pages

    India, a country situated in south Asia, is of subcontinental dimension with a population of over one billion people. India is primarily an agricultural economy with a vast range of crops. The livelihood of over 60% of the population continues to be based on agriculture. Of late, there has been a growing trend of urbanisation and diversification away from agriculture. The industrial sector is now playing a larger role in the economy. After the economic liberalisation in 1991, the industrial and services components of the economy have shown a high rate of growth, and today services contribute 46% of the GDP. India is rated as the fourth largest economy in the world based on the “purchasing power party” method of calculating per capita GDP. Having said this, mention of the important socio-economic issues that face India is necessary. The primary issue is one of poverty, with 320 million people estimated to be living below the poverty line. There are related problems of social and gender inequalities, illiteracy, lack of adequate health facilities, unplanned urbanisation, environment degradation, and underdevelopment of some areas. These are gigantic problems which are receiving the attention of the Indian Government and civil society, with some help from the international community. Since the foreign exchange crisis of 1991, a more liberal approach towards globalisation of the economy has been adopted by the government. India is a member of the World Trade Organization (WTO) and is opening its economy to the international market in phases. In keeping with the commitments to the WTO, exports have been increasing over the years and were reported to have grown by 30% in April, 2000. Special efforts are being made to attract foreign direct investment by providing attractive incentives to investors.…

    • 5714 Words
    • 23 Pages
    Powerful Essays
  • Good Essays

    Reading

    • 598 Words
    • 3 Pages

    We believe that at the heart of understanding reading and writing connections, one must begin to view reading and writing as essentially similar processes of meaning construction. Both are acts of composing. (Tierney &Pearson, 1983, p.568)…

    • 598 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Reading Challenges

    • 2960 Words
    • 12 Pages

    A bird does not sing because it has an answer. It sings because it has a song.…

    • 2960 Words
    • 12 Pages
    Satisfactory Essays
  • Good Essays

    Cost Delay

    • 577 Words
    • 3 Pages

    decision. It would have been better if there was a single window from where all…

    • 577 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Reading

    • 2730 Words
    • 11 Pages

    In recent years in the United States, there have been numerous cases of active euthanasia in the…

    • 2730 Words
    • 11 Pages
    Good Essays
  • Satisfactory Essays

    Reading

    • 752 Words
    • 4 Pages

    Louise Rosenblatt [110] explains that readers approach the work in ways that can be viewed as aesthetic or efferent. The question is why the reader is reading and what the reader aims to get out of the reading. Is the site established primarily to help readers gain information with as little reading possible, or is the site established in order to create an aesthetic experience?…

    • 752 Words
    • 4 Pages
    Satisfactory Essays
  • Good Essays

    Reading

    • 1037 Words
    • 5 Pages

    Because both my parents came from China, I took Chinese. But I cannot read or write Chinese and barely speak it. I love my North American citizenship. I don’t' mind being called a "banana," yellow on the outside and white on the inside. I'm proud I'm a banana.…

    • 1037 Words
    • 5 Pages
    Good Essays
  • Powerful Essays

    Reading

    • 1594 Words
    • 7 Pages

    In order to answer this question, we have to focus on four aspects: what role did religion have in establishing colonial government before independence? How did religion influence any of the founding fathers? How did religion influence the Declaration of Independence and the Constitution? How has the role of religion changed in public life since the founding of the U.S. Government? Let’s find the answer one by one.…

    • 1594 Words
    • 7 Pages
    Powerful Essays
  • Good Essays

    Reading

    • 11453 Words
    • 40 Pages

    Identifying and Exploring Security Essentials, by Mary Clifford. Published by Prentice-Hall. Copyright © 2004 by Pearson Education, Inc.…

    • 11453 Words
    • 40 Pages
    Good Essays
  • Satisfactory Essays

    Reading

    • 269 Words
    • 2 Pages

    Reading is amusing, cheap, and convenient for people, yet many do not read whatsoever. In my perspective, I completely agree with this statement, but I am definitely incorrect. According to my data, four over five students said that reading is their ideal activity. Students declared that reading is healthy for them, entertaining, and an excellent form of learning.…

    • 269 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Reading

    • 2141 Words
    • 9 Pages

    Capote, Truman. In Cold Blood. Truman Capote reconstructs the 1959 murder of a Kansas far…

    • 2141 Words
    • 9 Pages
    Satisfactory Essays
  • Good Essays

    Many people take pride in the fact that the Indian economy has been growing at rates between 7% - 9 % in the past few years. In fact, some people even argue that improvement of the country's Human Development Index (HDI) is a testimony to India's progress (0.406 in 1975 to 0.547 in 2011). References are also made to the rising FDI (Foreign Direct Investment) and Forex (Foreign Exchange) reserves where everyone is busy counting millions of dollars that are infused into Indian economy by outsiders.…

    • 2070 Words
    • 9 Pages
    Good Essays
  • Satisfactory Essays

    reading

    • 1948 Words
    • 8 Pages

    3. Where do you think the author would stand on today’s debate over fair value vs. historical cost valuation?…

    • 1948 Words
    • 8 Pages
    Satisfactory Essays