Dynamic non-alignment

This refers to the article ‘India can no longer remain non-aligned’ (September 13). In this century global politics is in flux, fast-moving and alarmingly dominated by the self-interest of nations. India too has moved from Jawaharlal Nehru’s static non-alignment to Narendra Modi’s dynamic non-alignment in which political moves change quickly tilting the balance between pro-or-anti power blocs quickly but still maintaining an aura of neutrality.

This is a very difficult and intricate game of power politics involving powerful nations and yet India has made its presence felt. This was evident in the conduct of G20, particularly New Delhi declaration which referred to the Ukraine war in a manner that kept Russia, China and US satisfied.

The future politics will be more complex, but we can trust the present government to change its position to suit India’s concerns.

YG Chouksey


Declining retail inflation’

Apropos ‘Retail inflation dropped to 6.8% in Aug as veg, edible oil prices fall’ (September 13), while the vegetable prices led by TOP (tomato, onion and potato) have already moderated in August, cereal prices still continue to be high.

For sure, such a development must have come as some music to the ears of the RBI. So it’s hardly a surprise that analysts see no change in the ‘repo rate’ when the Monetary Policy Committee (MPC) meets next. Also interest rates on bank loans may remain unchanged, a relief for borrowers.

Weather conditions also play a very crucial role in keeping the ball rolling on this front. So let us better ‘wait and watch’ the extant encouraging trends for some more time before both ‘power that be’ and the central bank start feeling so happy thereabout.

SK Gupta

New Delhi

Apropos the news report that ‘Talks on for fintech regulator; framework by fiscal-end’ (September 13), is a welcome development that would help in structured regulation as well as growth of the fintechs.

However, data privacy and data security issues needs to be addressed by fintechs.

Even commercial banks are showing interest to participate in co-lending with fintechs and this is likely to pick up pace, if fintechs follow set standards and best practices.

Having Self-regulatory Organisation would push the fintechs to quickly adopt best practices and lead to an orderly and customer-centric growth of the sector.

Kosaraju Chandramouli


IMEC opportunities

With reference to the BL Explainer ‘India- Middle East Europe Economic Corridor vs BRI’, the corridor will not only bring India and Europe closer but it will also enable cheaper and faster business activities.

Also countries will not fall into China’s debt trap anymore. This corridor will connect rail and port facilities across West Asia. First part of this mega project will connect India with West Asia and the second part will connect West Asia with Europe.

Today a container has to go through the Suez canal, but through this corridor the journey from Mumbai to Europe will be faster.

As much as 40 per cent of total business can be routed through this and which is bound to make trade cheaper, faster and more profitable. Expansion of logistics, infrastructure, communication and green hydrogen pipeline will boost significant employment opportunities and create new supply chains.

Bal Govind