Representative image Impostor syndrome seems to be more common than actually thought, though at a collective level. People may often feel that the groups they are affiliated with may be underperforming in comparison to other groups. Although this self-critical approach may work in certain cases, it may also overlook the positives, and decrease the morale of those affiliated with the group. Many in India seem to have a collective/national-level impostor syndrome. While the Indian economy is much better placed than its peers in the emerging markets, and other economies, the government is being criticised on the economic front. The criticism comes when the fundamentals of the Indian economy are robust, despite the exogenous shocks caused by the COVID-19 pandemic, supply chain disruptions, monetary policy tightening by the US Federal Reserve, the Ukraine-Russia conflict, and inflated crude oil prices. India's macroeconomic health remains robust despite external pressures, and ongoing … [Read more...] about Bibek Debroy writes: India’s economy is better placed than its peers, other economies around the world
India wheat exports
Representative Image In the August Monetary Policy Committee (MPC) meeting, RBI Governor Shaktikanta Das said that the Indian Rupee (INR) has fared “much better than several reserve currencies as well as many of its EME and Asian peers”. The Governor also added that the INR has depreciated “more on account of the appreciation of US dollar rather than weakness in macroeconomic fundamentals of the Indian economy”. Of late, there has been a lot of discussion around the INR. Towards the end of July, the rupee touched 80 against a US dollar , leading to discussions that it is a sign of a weakening Indian economy. But, is this the case? First, exchange rate increasing or decreasing against a foreign currency is not a sign of weakness or strength. In fact depreciation of the currency is often cited as a positive development for the domestic economy. If a currency depreciates against a foreign currency, the exports become cheaper with respect to the other country, and imports … [Read more...] about USD vs INR | India’s macroeconomic fundamentals are strong
Cuts of meat are seen for sale at a butcher shop in Manhattan, New York City, U.S., August 8, 2022. REUTERS/Andrew Kelly CHICAGO – U.S. consumers grappling with soaring inflation face more pain from high beef prices as ranchers are reducing their cattle herds due to drought and lofty feed costs, a decision that will tighten livestock supplies for years, economists said. The decline in cattle numbers, combined with stiff costs for other production expenses, illustrate why a recent fall in grain prices to levels not seen since Russia’s invasion of major corn and wheat exporter Ukraine may not immediately translate into lower food prices at the grocery store. Feed is the largest cost component of raising a cow for beef, so lower grain prices often help to reduce meat prices. But meat companies like Tyson Foods Inc, which reported weaker-than-expected earnings on Monday, must pay top dollar for animals when there are fewer to slaughter. Processors are also paying more for labor, … [Read more...] about Shrinking U.S. cattle herd signals more pain from high beef prices
Representative Image. (PC-AFP) The Chinese military, for the last week, has carried out military exercises involving missile strikes, warplanes, and ship movements crossing the midline of the Taiwan Strait. As a response, Taiwan's military also began a live-fire artillery drill simulating a defense of the island against an attack after days of massive Chinese military exercises. All the while, international cargo traffic in the Strait of Taiwan has been hit and ships are looking at alternate routes. "The number of shipping vessels operating in the Taiwan Strait has dropped from around 250 a day to just 15-20 ships a day, after the Chinese military blocked six zones in the Strait," a trader based out of Singapore told Moneycontrol. He added that many shipping lines were even cutting short scheduled loadings for importers across Asia. Close The Chinese government has been firing missiles across the Taiwan Strait in protest of a visit by US House … [Read more...] about MC Explains: How Chinese military drills around Taiwan will disrupt global shipping
Representative image The Reserve Bank of India announced measures to ease forex inflows. This explainer helps us understand the measures and objectives behind them. What are forex inflows and why are they needed? One of the major factors of a country’s growth is higher savings. Savings are channelised into investments, which help drive the growth of an economy. If the domestic savings rate is low or the investment rate is higher than the savings rate, foreign exchange savings can be used to bridge the gap. Foreign exchange savings are nothing but net inflows of foreign capital. The Indian economy was liberalised in 1991 and efforts were made to attract forex inflows. There are various categories of forex such as Foreign Direct Investment (FDI), Foreign Portfolio Investment (FPI), NRI deposits, and External Commercial Borrowings (ECB). The government and the Reserve Bank of India welcome equity flows such as FDI and FPI, but are cautious about debt inflows because heavy … [Read more...] about MC Explains | Will steps to liberalise forex inflows help the rupee?
S.D. Shibulal, chief executive officer of Infosys, speaks during the announcement of the company's quarterly financial results at their campus in the southern Indian city of Bangalore April 15, 2014. Staff left India's second largest IT services exporter Infosys Ltd at an unprecedented pace in the last quarter, worrying its management and raising investors' concerns about its ability to win lucrative contracts even as it posted a higher-than-expected net profit for the period. REUTERS/Stringer (INDIA - Tags: BUSINESS) - GM1EA4F1MK501 India's second-largest IT services company Infosys is "comfortable" with the higher revenue growth guidance of 14-16 per cent it gave for the full fiscal, as global IT spends are in "good shape" and digital focus of clients is "quite strong", CEO Salil Parekh said on Tuesday. Infosys' top boss told PTI in an interview that the company sees continued strength in both US and European markets, although it is keeping a close watch on the … [Read more...] about IT spends in good shape; see continued strength in US, European markets: Infosys CEO