Thinks 421

FT: “The fight to dominate the semiconductor industry is rapidly turning into today’s industrial equivalent of the 19th-century Great Game, when rival powers clashed over Central Asia. Now, as then, the strategy is to secure resources and supply chains, pin down allies and deprive rivals of strategic assets. But the modern game is mostly about boosting intellectual capital, strengthening industrial capacity and pioneering the latest technology.”

Niranjan Rajadhyaksha tells the story of India’s economy, as told by budgets since Independence, and compares data points in 1948, 1972, 1977, 2022. His take: “There is also a lesson to be taken from the past 75 years. India’s economy has broken free of many of its old structural constraints. It now faces new constraints. However, one unchanging fiscal fact is that the Indian state continues to be underfunded. The tax/GDP ratio, net of what the Centre shares with states, has barely moved over the past 30 years. Increasing it, so that the state’s growing infrastructure, development, subsidy and welfare commitments are funded, is a looming challenge.”

Praveen Chakravarty: “As per empirical research published in the Lokniti National Election Study, of every 100 Indians who voted in the 2019 national elections, only 35 were committed voters who were sure of which party to vote for before the campaign began. The remaining 65 voters decided who to vote for just in the last few days or weeks before election day. That is, 65% of Indian voters make their voting decisions very close to polling day. How do these large number of voters decide who to vote for at the last minute? Based on ‘hawa’ – the ‘wind’ factor. As per the same study, nearly 30 of these 65 last-minute voters decide who to vote for based on who they feel or think is winning. ‘Which way the wind is blowing’ is a significant determinant of voting behaviour in India. In other words, a significant 30 of every 100 voters vote for the likely winner and so, it is very important for a political party or a candidate to be perceived as the likely winner in an Indian election.”

Published by

Rajesh Jain

An Entrepreneur based in Mumbai, India.