An autonomous research institute under the Ministry of Finance

 

Re-imagining MSME lending

14/07/2020

(Co-authored with Amrita Pillai)
 
The government’s initiatives under the stimulus package have been geared towards helping Indian MSMEs maintain liquidity and ensuring greater credit availability. The emergency credit line, subordinate debt provision and the equity infusion measure, apart from the long-awaited reform to the MSME definition, …

The economy of relationships as opposed to the economy of contracts

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14/07/2020

A sophisticated economy is one in which business relationships are defined by formal legal contracts. When extreme events -- such as Covid-19 -- impact upon such an economy, there is a greater disruption. In India, a large part of the economy is held aloft by family relationships or friendship, …

UNMAKING ‘MAKE IN INDIA’

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13/07/2020

(Co-authored with Rajesh Raj S.N. and Kunal Sen)
 
The possibilities of a global economic reorganisation in a post-Covid-19 world has brought the attention of the Indian government back to their flagship ‘Make in India’ programme. Speaking to his council of ministers during the lockdown, Prime Minister …

The myth of India’s import dependence

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03/07/2020

In the wake of the growing military tension on the India-China border, there have been calls for boycott of Chinese products. These have little impact on strategic reality. Equally, the plea that India cannot afford to do without Chinese imports is not a truism.
 
If bilateral …

Challenges of levying taxes on digital services

03/07/2020

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Recently, the United States declared that its trade representative will pursue an investigation under section 301 of the Trade Act, 1974, against Austria, Brazil, the Czech Republic, the European Union, India, Indonesia, Italy, Spain, Turkey and the UK for implementing digital services tax. The investigations come at a time …