OPINION / BLOGS
  • Opinion: Why India Economy Faces Ominous New Year In 2018
    Mihir Sharma, Bloomberg
    You'd think the Indian economy had returned to rosy health. It seems to have recovered from two enormous disruptions -- Prime Minister Narendra Modi's decision just over a year ago to withdraw 86 percent of the currency in circulation, and the poorly-planned rollout in the middle of 2017 of a new goods-and-services tax. Exports are no longer declin...
    Opinion
  • Opinion: The Question Is - Why Would Anyone Vote For Rahul Gandhi?
    Mihir Sharma, Bloomberg
    To hold the party together means having to deal with the reality that Rahul Gandhi is in charge. And while Gandhi is certainly not the idiot he's been portrayed as being, he's far from being a natural politician.
    Opinion
  • Opinion: Modi Government Is Getting One Big Reform Right
    Mihir Sharma, Bloomberg
    According to one of India's most respected bankers, it's a once-in-a-lifetime opportunity -- a mammoth sale of distressed assets, some $40 billion in the first round. Much could go wrong, of course, especially given that so many powerful interests have so much money at stake in the process.
    Opinion
  • Opinion: Modi Shouldn't Fall Into The Indira Gandhi Trap
    Mihir Sharma, Bloomberg
    The birth centenary of former Indian Prime Minister Indira Gandhi last week was not marked by any particularly impressive celebrations. Perhaps the moment didn't require commemoration; today's India is still very much the country she shaped, although the party controlled by her family, the Congress, is no longer in power. And India's inability to m...
    Opinion
  • Opinion: After Moody's Rating, Can PM Modi Take Victory Lap?
    Mihir Sharma, Bloomberg
    Moody's decision on Friday to raise its rating of India's sovereign bonds a notch, from Baa3 to Baa2, could elicit one of two reactions. On the one hand, a fair observer could feel that that the decision was way overdue. And, on the other hand, an equally fair observer could raise an eyebrow at the timing. Actually, it's possible to feel both emoti...
    Opinion
  • Opinion: Modi Takes A Big Step Forward Towards Fulfilling A Promise
    Mihir Sharma, Bloomberg
    Given that the Indian economy has been reeling from one shock after another, a bit of good news would be welcome. And some has just arrived: The World Bank has declared that, over the course of a single year, India jumped from No. 130 to No. 100 in its "ease of doing business" ranking.
    Opinion
  • Opinion: Thomas Piketty Makes A Worrying Point About India
    Mihir Sharma, Bloomberg
    Has India, famously tolerant of blatant inequality of wealth and income, reached the point at which its politics will have to respond to an ever widening-gap between rich and poor? Perhaps -- especially if you believe Thomas Piketty.
    Opinion
  • Opinion: Demonetization, Modi's Biggest Move, Is Total Bust: Mihir Sharma
    Mihir Sharma, Bloomberg
    When India's prime minister announced last November that 86 percent of India's currency would be worthless in hours, he presented the decree as a well-thought-out measure to attack cash "hoarded by anti-national and anti-social elements." We were led to believe that honest taxpayers would line up to return their high-value currency notes, but these...
    Opinion
  • Opinion: India's Faceoff With China A Sign Of The Future
    Mihir Sharma, Bloomberg
    In Kashmir, shells and bullets regularly fly back and forth across India's de facto border with Pakistan. Yet, although India's 4,000-kilometer border with China is similarly disputed, not a single shot has been fired in anger there for decades. That may soon change: There are genuine fears in New Delhi that the long period of calm may not last. An...
    Opinion
  • Opinion: China Has Helped India's Cause With Trump
    Mihir Sharma, Bloomberg
    Very little was expected in India from Prime Minister Narendra Modi's visit to the U.S., and for good reason: Modi had gone out of his way to cultivate a personal relationship with Barack Obama, including famously pouring out a cup of tea for him and the cameras when Obama visited India.
    Opinion
  • Opinion: Rollout Of Tax Reform GST Like An Indian Wedding
    Mihir Sharma, Bloomberg
    India stands on the brink of one of its most momentous policy reforms in decades unprepared and uncertain. We're just a few days away from the launch of a new indirect-tax regime, the goods-and-services tax, or GST, and anxiety about its rollout is all-pervasive.
    Opinion
  • Opinion: In RBI's Spat With New Delhi, Reform Is The Victim
    Mihir Sharma, Bloomberg
    During the Reserve Bank of India's press conference last week, one exchange stood out. Asked about a meeting scheduled by the federal Ministry of Finance in New Delhi to discuss the RBI's policy, the governor of India's central bank, Urjit Patel, replied: "The meeting did not take place. All the MPC members declined the request of the finance minis...
    Opinion
  • Opinion: India's No. 2 Again, And PM Modi Should Be Worried
    Mihir Sharma, Bloomberg
    For quite awhile now, it's been rare to hear the name "India" without the giddy qualifier, "the world's fastest-growing large economy." Those seeking to promote India as a destination for investment -- including, perhaps especially, its government -- have driven home the message that India is the "bright spot" in the global economy.
    Opinion
  • Opinion: China's Repeating The West's Mistakes In Pakistan: Mihir Sharma
    Mihir Sharma, Bloomberg
    When President Xi Jinping announced in 2015 that China would pump $46 billion worth of investments into Pakistan, the recipients of his largesse seemed less surprised than one might have expected.
    Opinion
  • Opinion: China's Newest Aircraft Carrier Should Worry India
    Mihir Sharma, Bloomberg
    The launch of China's second aircraft carrier, expected as soon as this week, will be an important and depressing moment for India. The "Type 001A" -- likely to be named the "Shandong" -- will give China an edge for the first time in the carrier race with its Asian rival, a literal two-to-one advantage. After decommissioning the INS Viraat earlier ...
    Opinion

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