HOME 2019-07-15T13:20:25+00:00

CONTRACT  WITH  INDIA

…our mission is to make India great by developing and promoting policies based on the principles of limited government, free markets, individual freedom and rights, equality of justice and individual responsibility…

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IN THE PRESS

8thAug, 18

INDIA’S LOST DECADE

Countries pass through stages on the road to economic prosperity. Economist W.W.Rostow postulated five such stages of economic development: the traditional society, pre-take-off, take -off, drive-to-maturity, and period of mass consumption. The year 1991 was a watershed point in India’s economic history. It marked a distinct move away from socialist economic policies and an embracing of economic freedom and free-market policies. As a result, the economy started to grow, slowly [...]

1stAug, 18

INDIA’S ATLAS SHRUGGED

It is estimated that since 2014 about 23,000 millionaires have left India to settle in other countries (Morgan Stanley). The vast majority of them weren't tax evaders or bank looters running away from the law. They were the risk takers, wealth creators and employment generators that built this country's industry. And despite all the falsehood about increasing inequality, these people were the pioneers of the new aspirational India. These were [...]

22ndJul, 18

TIME TO SELL STOCKS?

In an article dated May 31st, 2017, I wrote that the Indian stock market had room to run on the upside and that a 20% increase over the next two years was highly probable. I mentioned two things that would bring an end to this bull run: a declining currency, and disappearing liquidity. Since that writing the market has gone up around 19.5 %, the rupee has dropped to reach an [...]

12thJul, 18

WATERING DOWN EMINENCE

What comes to mind when you hear the word “eminent” ? Most reasonable people would associate eminence with someone that has attained a level of achievement far beyond others through years of hard work, has a proven and demonstrable track-record of excellence and has unquestioned integrity. Think Abdul Kalam, Mother Teresa, Sachin Tendulkar, Lata Mangeshkar, Ravi Shankar. Each of them got to the stature of eminence through years of dedicated [...]

25thJun, 18

NOT HEDGING OIL PRICES IS REALLY DUMB

Governments and bureaucracies were never designed to produce strategic thinking and efficient outcomes. Decision making requires courage, and when the primary objective is self-preservation, courage takes a back seat. As a small-government libertarian I don’t expect much from governments or their bureaucracies, but sometimes even I am shocked at their level of incompetence and irresponsibility. In preparing for a lecture recently I was astounded to read that oil companies in [...]

11thJun, 18

WHAT MODI CAN LEARN FROM TRUMP

The New York Times (NYT) is as rabidly anti-Trump as any other newspaper in the world. So recently (June 1, 2018) when the NYT carried an article claiming that “we ran out of words to describe how good the job numbers are” it was the strongest endorsement of Mr Trump’s economic policy that has created remarkable economic growth and employment in the US. Here are some astounding numbers for the [...]

3rdJun, 18

POOR PLANNING SCREWS UP THE AIR INDIA DEAL

Recently the government put Air India up for sale. Predictably, they made the terms of the deal so onerous that there were no bidders. Not only is this an embarrassment for a government already reeling from complicating and destroying a good tax like GST, but, sadly, it also reduces the market price of a very valuable asset. Remember this in context of the fact that Air India has a vast [...]

31stMay, 18

POLITICS AND INDIA: A DEEP EMOTIONAL CONNECT

India will hold its national elections in the next 12 months. Indians love their politics and emotions are sure to get charged up. The evening news will be full of shouting matches, charges and counter-charges, lies, promises, and the obligatory fake news. There will be political discussions on social groups and disagreements will flare up into personal insults, fights, people leaving the group, old friends being unfriended or blocked--the whole drama. [...]

30thMay, 18

TIME FOR INDIAN VOTERS TO WAKE UP

Governments never learn--only people learn. Voting, therefore, is a right best exercised by people who have taken time to learn about the issues It will soon be election time in India--a season for meaningless rhetoric and false promises. Politicians will outdo each other in making irresponsible statements about a lot of things. A big hot-button issue will be corruption. Politicians will attack each other as corrupt, yet as every Indian [...]

20thMay, 18

INDIA NEEDS LEADERS NOT POLITICIANS

We need leaders not in love with money but in love with justice. Not in love with publicity but in love with humanity. Leaders who can subject their particular egos to the pressing urgencies of the great cause of freedom…..a time like this demands great leaders. — Dr Martin Luther King, Jr. As India gets ready to vote in twelve months, Dr King’s inspiring words from 1956 become even more [...]

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