Old and new economy businesses have different ways of gaining some form of monopoly in a product or a service value chain. It remains incumbent on the government to regulate this through appropriate and suitable regulatory mechanisms.
Trends indicate that ‘Service-in-India’ is where investor interest really lies. This poses challenges for Modi’s policy makers at multiple levels particularly since technologies are not static, unlike the policies that circumscribe them.
India has often missed the bus in terms of timing its economic moves in the past. It cannot afford to overlook an enhanced commercial engagement with China, even as it courts the United States, Japan, South Korea and other partners from beyond its neighbourhood.
The fiscal deficit, the manufacturing sector and the slowdown in exports. The Budget only scores well on one out of these three challenges.