The philosophy of self-aggrandisement defies social logic. Seven leading banks in the United States of America had last year incurred an aggregate loss of $82 billion; the chief executive officers of these banks nonetheless claimed and collected annual bonus to the extent of $38 billion. The economy might lie in ruins; that did not distract sharks from zooming in on their prey. Our corporate sector has shaped itself in the...

Energy security is a major objective of all countries. Some are proactive and aggressive in this pursuit, like China; others like India are slow and procrastinate on major decisions and allow hope to overtake realistic assessments. This makes energy security in the foreseeable future an uncertain goal for India. Any discussion of energy security must keep in mind the Indian realities. Although in overall terms of commercial energy use to...

In Maharashtra, where issues hurl themselves at you, the Opposition failed to mount a strong campaign on a single one of them. The front rows of the Mumbai-Nagpur flight are usually the province of the political class: MLAs to MPs, ministers and fixers. This time, though, quite a few of the occupants were celebrities: television and film stars, major and minor, middling and mediocre. It wasn’t the T-20 cricket match in...

Concerted efforts have been made to give a new lease of life to the Doha Round of WTO negotiations. The question before us is: what is the most relevant role which this revived round of trade talks can play? If we take an overview of the entire international trade scene and the changes that have taken place ever since the WTO was created (including the negotiations which preceded the WTO’s...

On the day when the commercial release of Bt Brinjal was recommended by the Genetic Engineering Approval Committee, the Indian Agricultural Research Institute (IARI) denied that Pusa Basmati 1121 rice (exported to the Middle East) was genetically modified as reported in a section of the Iranian Press. Obviously, the genetically modified rice has no export market, and attempts to brand Pusa 1121 as such were done on trade considerations to...