The India growth story is enviable. Despite plaguing problems, India has emerged stronger and resilient to the global crisis so far. India is expected to be the world's fastest growing economy by 2018, according to Economist Intelligence Unit (EIU), the research arm of the Economist magazine. India, the second largest growing economy will overtake China as the fastest growing major economy with an average of eight per cent in the...

Is the Indian government bargaining away the rights of millions across the world to essential drugs supplied by India, hailed as the pharmacy of the developing world, in the name of free trade with the European Union (EU)? That's a fear being expressed by civil society groups in the developing world. Commerce minister Anand Sharma vehemently denies such a possibility, claiming that the free trade agreement (FTA) under negotiation with...

Around two decades ago, Lawrence Summers, then World Bank chief economist, outraged many when he argued in an internal memo that the economic logic behind dumping toxic waste in low-wage countries was “impeccable”. His rationale: less developed countries are “under-polluted” and that “foregone earnings from increased morbidity and mortality” would be lesser in countries with lower wages. Cut to now and the thing to ask is: does India too believe...

SEZ have been hurt by the global downturn and contraction in demand for domestic goods and services The commerce ministry has proposed measures to make it easier for developers to exit special economic zones (SEZs) that have been struggling with a contraction in global demand for goods produced at the tax-free enclaves. Specific provisions for the denotification of SEZs have been been put up for public comments till Thursday, after which they...

The recent high-pressure tactics to introduce genetically engineered food crops in India are another rude reminder that Western agribusiness companies have a deeprooted strategy to obtain a stranglehold on India’s food and agriculture system. In a review of recent trends titled ‘Food Without Choice’ (The Tribune, November 1) Prof Pushpa M. Bhargava (who was nominated by the Supreme Court in the Genetic Engineering Approval Committee to protect safety concerns), an internationally...