-Tehelka Edited Excerpts From An Interview NOTED ECONOMIST and Columbia University Professor Jagdish Bhagwati’s pro-free trade stance is well-known. A friend of the prime minister and his batch mate from Cambridge University, Professor Bhagwati feels the UPA’s departure from the stagnation of the past few years is a welcome change, and lauds the decision to allow FDI in multi-brand retail. In an interview to TEHELKA Business Editor Shaili Chopra, Bhagwati says more...

-The Economic Times India's consumer prices climbed 10.56 per cent in December from a year earlier. This will hold the RBI's rate-cutting hand and prove politically painful for the government. The increase in the Consumer Price Index (CPI), over three percentage points more than the increase in the Wholesale Price Index (WPI) number, is due to a spurt in prices in the food and beverage category - mainly vegetables, oils and fat,...

-The Indian Express One of the earliest campaigners against genetically modified crops in Europe has publicly embraced the technology. Tendering an unconditional apology for his anti-GM activism, Mark Lynas has also come out in the open and criticised Indian activists and former environment minister Jairam Ramesh for their approach on the issue, asserting that the debate against GM crops was “over”. As environment minister, Jairam put the release of Bt Brinjal in...

-Economic and Political Weekly The recent debate on the acceptability of foreign direct investment in the retail sector in India has been mostly political. It is necessary to look into the pros and cons of FDI in retail from a purely economic point of view. This article identifi es the safeguards that should be undertaken before allowing giant multinationals to function in the country. Abhirup Sarkar (abhirup@isical.ac.in) is with the Indian Statistical...

-The Hindu The World Conference on International Telecommunication showed that countries are not yet ready to arrive at a consensus on regulation and control of the Internet The World Conference on International Telecommunication (WCIT) that concluded on December 14 saw much heated debate. Some countries wanted to use the International Telecommunication Union (ITU) to gain intergovernmental control of the World Wide Web. Some saw it as an opportunity to democratise the Internet,...