Raghuram Rajan recently sent out a dire message about weapons of mass destruction. “When fully unleashed, (these) WMDs… destroy firms, financial institutions, livelihoods and even lives. They inflict pain indiscriminately, striking both the culpable and the innocent,” he warned.
The former Reserve Bank governor was not talking about nukes or chemical agents or bioweapons; his warning was about the dramatic and sweeping set of economic sanctions that the western powers have slapped on Russia following its invasion of Ukraine.
“If used too widely, they could reverse the process of globalisation that has allowed the modern world to prosper,” he said.
It is a warning for India, too. “India was a closed economy once, but our global integration has increased over the last 30 years and is now very high. So the impact on a globally interconnected economic system is going to be severe,” said Pradeep Multani, president of the PHD Chamber of Commerce and Industry.
While the government played down a similar scenario battering the Indian economy, it has not stopped future possibilities being played out where India bears the brunt of a similar economic chokehold, over its nuclear arsenal or maybe Kashmir. “The sanctions by the US and other western countries against Russia have triggered a fresh debate on international trade,” said K.R. Sekar, president of the Bangalore Chamber of Industry and Commerce and partner at Deloitte India.
هذه القصة مأخوذة من طبعة April 10, 2022 من THE WEEK.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة April 10, 2022 من THE WEEK.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
William Dalrymple goes further back
Indian readers have long known William Dalrymple as the chronicler nonpareil of India in the early years of the British raj. His latest book, The Golden Road, is a striking departure, since it takes him to a period from about the third century BC to the 12th-13th centuries CE.
The bleat from the street
What with all the apps delivering straight to one’s doorstep, the supermarkets, the food halls and even the occasional (super-expensive) pop-up thela (cart) offering the woke from field-to-fork option, the good old veggie-market/mandi has fallen off my regular beat.
Courage and conviction
Justice A.M. Ahmadi's biography by his granddaughter brings out behind-the-scenes tension in the Supreme Court as it dealt with the Babri Masjid demolition case
EPIC ENTERPRISE
Gowri Ramnarayan's translation of Ponniyin Selvan brings a fresh perspective to her grandfather's magnum opus
Upgrade your jeans
If you don’t live in the top four-five northern states of India, winter means little else than a pair of jeans. I live in Mumbai, where only mad people wear jeans throughout the year. High temperatures and extreme levels of humidity ensure we go to work in mulmul salwars, cotton pants, or, if you are lucky like me, wear shorts every day.
Garden by the sea
When Kozhikode beach became a fertile ground for ideas with Manorama Hortus
RECRUITERS SPEAK
Industry requirements and selection criteria of management graduates
MORAL COMPASS
The need to infuse ethics into India's MBA landscape
B-SCHOOLS SHOULD UNDERSTAND THAT INDIAN ECONOMY IS GOING TO WITNESS A TREMENDOUS GROWTH
INTERVIEW - Prof DEBASHIS CHATTERJEE, director, Indian Institute of Management, Kozhikode
COURSE CORRECTION
India's best b-schools are navigating tumultuous times. Hurdles include lower salaries offered to their graduates and students misusing AI