Separating the Signals from the Noise
MUMBAI, October 18, 2013 — As we see signs of recovery in several economies across the world including India, there is still a great need of monetary, fiscal and structural reforms. This was among the many topics discussed at Asia Society India Centre's private BASIC (Breakfast at Asia Society India Centre) roundtable discussion with Dr. Anupam Khanna, Chief Economist of NASSCOM. The participants engaged in a broad-ranging discussion, beginning with a brief overview of some of the global economic challenges. Khanna noted that there has been a reassessment of emerging markets and highlighted the improvement in the EU and US economies. Khanna also questioned the sustainability of a consumption tax, particularly in Japan. He noted that the Indian Rupee problem is a symptom of a larger problem, rather than being a cause. On the Indian economy, Khanna believes that India doesn't have a policy framework and suggested that India can learn much from China's manufacturing sector.
Khanna highlighted the intensity of the Indian IT industry and emphasised that India needs more strategic planning. Khanna also warned that inflation management is a cause for concern. He also pointed out that the Indian government should be providing higher standards of healthcare.