Good And Getting Better

Maybe he heard me and several more like me. In my previous blog I had stated that the Aam Aadmi Party (AAP) led by Arvind Kejriwal would need to focus on what will it do for Delhi State rather than pointing fingers at competitors. AAP came out with a manifesto - BJP did not. In fact, BJP seems to be running into reverse gear in this game. The appointment of Kiran Bedi as its choice for Chief Minister did not go down too well within its ranks. In my mind, she is the perfect person to lead BJP in a battle such as this with her deep knowledge of the workings of the City State and the backroom strategy of AAP itself. She is destined to loose however. Her new adopted party will be the reason for it and not AAP. Maybe it's her karma of abandoning the very people who helped her climb that is paying back now. The second strategic error of BJP is to use the former AAPpies (if I can call the dissidents by that name) to discredit AAP rather than fighting to demolish AAP's manifesto with something even more worthwhile. The news pundits are predicting a walkover for AAP and should a presumed victory not corrupt the think tank within AAP then the soothsayers will have spoken correctly. AAP is lucky that it's getting a second chance at Governance and will hopefully respect the mandate if given. It will be good for Delhi too as it is just a State for the sake of it. The very fact that BJP says that if it wins, Delhi will be governed under the watchful eye of Mr. Modi is a statement that goes against it - that it is the Center and not the State Government that will run it. If AAP does not let the people of Delhi down; then the 2019 Lok Sabha elections will be a David vs Goliath face off between AAP and the BJP. Good for AAP now and hopefully better in the times to come.

Speaking of which; in the battle of unhealthy (junk food) our own "desi" brand called "Haldiram" has beaten bigger international brands like Dominos and McDonalds to qualify as the No. 1 Snack Food brand in India. I cannot think of a long foreign trip without carrying a couple of packets of the this flavourful junk to satisfy the Indianess in me. This news comes on the heel of the "Royal Enfield" overtaking "Harley Davidson" in International sales. Such news certainly raises the confidence level in the business community that home grown brands can find respect even in the face of international competition. That's good news for the "Make in India" initiative and hopefully more and better news about Indian sucesses in the times to come.

With the international scenario stabilizing a bit in terms of Greece and Oil (LOL) our own Central banker looks a bit less harassed. The Reserve Bank wanting to contain the Rupee at a 60+ to a dollar level has just relaxed the outward remittance of US$ under the LRS from 125K a year to 250K a year per person. Guess with the world wise investors pointing towards India as the market to invest in; there is not much worry of our own money going elsewhere. The Reserve Bank is reserved on the idea of letting the guard down totally and is still playing a wait and watch game as far as interest rate is concerned; and rightly so. Without the correct policies in place, reducing interest rates makes no sense and the RBI Gov. is making sure that the Finance Minister of India comes out with the correct economic fixes in his "real" maiden budget later this month. The previous one was full of pain - hopefully this one will be full of policies; those that will not be tinkered with on an adhoc basis. There is a feel good factor in the air and I am hoping that it will translate into something better on the domestic economic front.

Finally; India got support from both Russia and China for a permanent seat in the United Nation's Security Council. One would have thought that the friendly overtures towards India by the US President on his recent visit as the Chief Guest on Republic Day would have pissed off both Russia and China. It is significant then that all 3 nations have risen over the past political and economic differences and realized the growing interdependence they have on each other on a host of issues.   India needs the US as a friend and ally; and for the US - India is a market for selling its technology and military hardware. Will it be able to provide it to India without all the hard controls that it usually attaches with such sale? For many; the agreements reached with the US President on nuclear energy still need to be tested as he now has a very limited term and might in the Senate to see the initiatives through. But for now, India has a much larger trade, economic and security agenda with China and Russia as each of them with India. If there is something about the Modi team that I would applaud; then it has to be the steps and measures taken by it on the international front in making India look good in the international market place and the optics from here on will only be better.