Invisible Trade In India

Don't ignore external sector

India has faced severe periods of unstable growth and painful adjustments whenever it developed weaknesses in its external sector. Some examples of externally induced stress are — the early 1980s due to the oil crisis; 1991 because of the balance of payments crisis; and very recently the slowdown because of the global financial crisis, though the impact proved to be mild.

The management of external sector in India saw a paradigm shift after the early 1990s, following the severe impact of the balance of payments crisis of 1991. The policies that were reshaped since then covered trade, foreign investment, exchange rate and reserves management and the management of the capital account. The strategic changes served the country well. But there are, of late, some signs of weakening of the external sector indicators.

Even while fighting inflation as enemy number one, authorities should bestow renewed attention on the external sector, before the incipient signs of weakness become worse and impact the current growth story. There are positives such as buoyant exports that need to be strengthened, and negatives such as widening current account deficit, riskier financing pattern of meeting this deficit and dwindling foreign investment, which need to be reversed.

The well-conceived trade policy of the government for 2009-2014 has so far yielded good results. Despite weaknesses in global recovery, India's export/trade performance has been exemplary. The pick-up in exports to $245.56 billion in 2010-11 surpassed the government's target and quelled fears of current account deficit exceeding the prudential limit of around 3 per cent of GDP. Despite the robust growth in imports, the trade deficit narrowed to $105.14 billion, from $116.03 billion in 2008-09.

Trade diversification both in terms of commodities/services and the regional direction shifting from traditional US and Europe to emerging markets including China and Latin America, would serve to insulate India from global shocks emanating from the advanced countries.

Invisible receipts, however, have come down from $91.6 billion in 2008-09 to $79.99 billion in 2009-10 and further down to $63.18 billion during April-December 2010-11. As a result, the current account deficit for the period April-December 2010-11 was larger than the full year level of 2009-10.

Terrorisim in India | Yemen's Parliement

Terrorisim in India

TERRORISM could be the best tool or toy the arrogant states could employ to terrorize innocent people. It has become an international norm to emulate the Western and Indian media reporting and make analyses strictly according to their mindsets; any deviation or diversion from the “usual” ways is resisted and badly condemned by their global agents. My views not conforming to Indian or US media modes are, therefore, have not been digested by a few select Hindu friends who other wise read me regularly wherever I manage to get them published. On Mumbai terrorism, some of the criticism made by them is as horrible as the terrorist acts themselves. They are unable to stand my stubbornly refusing to attack Pakistan as the Indian and US media religiously do, or as the Israeli media elaborately decode the “Islamic terrorism” in their own ways. From the expressions these Indians make about my observations on Mumbai Nov26 reveal a possibility that some of them have just escaped from some mental hospital without completing the treatment. I only pity them.

Indians have again proved they are the best chess players and the high precision shooters. Most probably, the Indian strategists and media were keen to trace the terror links freedom fighting Kashmiris and to trap some more “Afzals” under Mumbai terrorism category and delay the freedom movement. Some how, that strategy did not work this time around. And Kashmiris are to that extent safe, though they are harassed every where.

Considering the Muslims as cheap, US-led Western powers and their Eastern allies like Israel and India harp on terrorism to terrorize the Muslims and deny what is their due in the ever-growing development of global economy. Generally, the terrorism acts look formidable and real because of the heavy death tolls and media hype to terrorize the innocent people by making them believe that some private Muslims- terrorists, supported by a few Islamic states, alone are responsible for this ghastly terror affair.

Indian Strategy of unleashing terror on innocent Muslims directly or in a proxy manner has indeed worked very well so far in its favor, because Hindus rule and control Indian system and could easily ruin any one it does not like. India is a known terrorist state with its continuous genocide of innocent Kashmiris in their own lands now under Indian occupation. Although only recently the world has come to know about involvement of Hindus and their organizations as well as military agencies in terrorist activities to defame Islam and kill Muslims, these nefarious activities have been going on for decades since Indian separatists got independence from UK . The terrorist acts in Indian towns are the hidden strategies of Indian majority people to deny any benefits to Muslims and malign neighboring nations on account of terrorists.

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